L’Oréal Launching Luxury K-Beauty Brand Shihyo
SHANGHAI — L’Oréal is launching a luxury K-beauty brand, called Shihyo.
Created in collaboration with South Korea’s Hotel Shilla chain and Hong Kong-based Anchor Equity Partners, the skin care brand will be introduced in Korea via a third-party joint venture, called Loshian.
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Shihyo, which means “the wisdom of time” in Korean, takes inspiration from the 24 seasons of the traditional lunisolar calendar. “Shihyo embodies the healthy energy of nature, powered by herbal sciences,” L’Oréal said in a statement.
Shihyo features 24 ampoules with 24 herbal ingredients harvested at the peak of each season. The range includes facial cleanser, essence, cream, shampoo and conditioner.
All Shihyo product formulas have a patented ingredient called ShiHyo24, which infuses 24 herbal ingredients with fermented rice water and ginseng water. The nutrition-rich formulation is based on scientific research and innovation with proven efficacy, according to the brand.
The ingredients are directly sourced from local farmers in South Korea, according to In-Gyu Han, chief operating officer of Hotel Shilla, in the statement.
“Rooted in an exceptional traditional wisdom and knowledge of naturality, Shihyo represents the epitome of Asian luxury beauty. Empowered by science, Shihyo delivers the highest skin-care quality thanks to its signature patented ingredient, offering the most elevated luxury beauty experience,” said Cyril Chapuy, president of L’Oréal Luxe.
“We have full confidence that Shihyo will meet the discerning consumers’ needs with new luxury beauty routines,” said Sanggyun Ahn, managing partner of Anchor Equity Partners.
The brand was unveiled during Shanghai’s CIIE expo in early November.
Shihyo will focus on the North Asian market with a flagship, called “Seoul Garden,” opening “in the coming months” at the Shilla Seoul Hotel in Korea. A launch in China is scheduled for 2023.
L’Oréal dove into K-beauty in 2018, with the acquisition of Nanda Co. Ltd., the South Korean lifestyle makeup and fashion fashion company that includes the popular Stylenanda color cosmetics brand.
The L’Oréal North Asia Zone is the French beauty giant’s second-largest region sales-wise, after Europe. North Asia accounted for more than 28 percent of the group’s global sales in the nine months ending Sept. 30. Sales there grew 11.3 percent in reported terms and 0.3 percent on a like-for-like basis to 2.41 billion euros in the third quarter.
