L’Oréal has acquired a majority stake in skincare brand, Medik8 for an undisclosed amount.
The acquisition further strengthens L’Oréal’s position in science-driven skincare, while Medik8 will be able to leverage the group’s expertise to scale globally.
"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," said L’Oréal Luxe president, Cyril Chapuy in a statement.
"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."
For Medik8, the acquisition represents a pivotal growth moment. Vogue Business said the British brand, which has maintained a lean operating machine to date by manufacturing products in-house, last reported a pre-tax profit of £15.6 million on revenues of £45.3 million in the year to September 2023, per filings with UK Companies House.
"Medik8 was born to prove that skincare can deliver results without compromise – rooted in science, obsessed with customer experience, and driven by sustainability," said founder, Elliot Isaacs.
"I’m delighted that Medik8 has now found its long-term home at L’Oréal – a partner that fundamentally embraces our vision and gives us the platform to deliver it on a truly global scale."
Isaacs will stay on as founder and serve on the board. The current management team will also remain in place, led by CEO, Simon Coble.
You can shop Medik8 in Australia direct here and via Adore Beauty here.
Image credit: Medik8
