Personal care giant L’Oreal has announced that it has signed an agreement to acquire a majority stake in the UK skincare brand Medik8 to strengthen its Luxe portfolio.
Founded in 2009 by Elliot Isaacs, Medik8 offers a range of products including serums, moisturisers, cleansers and toners. The company markets its products through direct-to-consumer (DRC) channels, professional clinics, pharmacies and retailers such as Space NK and Harrods, and manufactures them at a dedicated research and production facility in Buckinghamshire.
As part of the transaction, Inflexion will continue as a minority shareholder, and both the founder and management committee will stay on.
Commenting on the move, L’Oreal Luxe president Cyril Chapuy said: “We are delighted to welcome Medik8 to the L’Oréal family. As a premium skincare range, with high levels of proven efficacy at an accessible price point, Medik8 perfectly complements our existing skincare portfolio. We share a strong belief in Medik8’s global potential and are excited to embark on this journey together, to build a powerful and impactful brand presence worldwide”.
Medik8 CEO Simon Coble added: “I am delighted to be joining forces with a company which shares our vision for the brand’s future growth and whose core values align with our deep commitment to science, innovation and above all, results without compromise. I look forward to the next stage in Medik8’s journey, as we work together to bring our innovative products to a wider audience”.
The transaction is expected to be completed in the next few months, subject to regulatory approvals.
Source: L’Oreal / Medik8
