L'Oreal Groupe, together with Hotel Shilla and Anchor Equity Partners, launches SHIHYO, a newly created luxury beauty brand
Shanghai, Nov 21, 2022 - (ACN Newswire) - L'Oréal Groupe, together with Hotel Shilla and Anchor Equity Partners, is launching a newly created luxury beauty brand ‘SHIHYO' through Loshian, a third-party joint venture. This is the first time L'Oréal is launching a new beauty brand through a joint venture.
SHIHYO, which means "the wisdom of time," is a newly created skincare beauty brand inspired by the Asian wisdom of the 24 seasons. SHIHYO embodies the healthy energy of nature, powered by herbal sciences.
The new brand is based on the naturality of 24 herbal ingredients harvested at the peak of each season, combined with proven efficacy based on scientific research and innovation. All formulas include the signature ingredient called ShiHyo24, a patented, nutrient-rich concentrate of the 24 herbal ingredients infused with fermented rice water and ginseng water.
SHIHYO offers 24 different types of ampoules featuring 24 herbal ingredients, along with other skincare products such as facial cleanser, essence, and cream, as well as scalp care products such as shampoo and conditioner.
SHIHYO leverages L'Oréal's longstanding beauty expertise, Hotel Shilla's luxury retail channels, and Anchor's robust financial business model. SHIHYO's 1st flagship store, the "Seoul Garden," will open in the coming months at The Shilla Seoul Hotel in Korea, with the ambition of engaging with consumers and offering an immersive experience with an extensive luxury beauty product range.
Cyril Chapuy, President of L'Oréal Luxe, said, "L'Oréal LUXE is very pleased to announce the launch of SHIHYO through a partnership with Hotel Shilla and Anchor Equity Partners. 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 skincare quality thanks to its signature patented ingredient, offering the most elevated luxury beauty experience."
In-Gyu Han, COO of Hotel Shilla, said, "SHIHYO is a luxury beauty brand that brings out the best of naturality and efficacy with seasonal ingredients directly sourced from local farmers in Korea. With our rich retail expertise married with L'Oréal's strong brand building capabilities, we believe SHIHYO will elevate the desire for natural, luxury beauty in Asia."
Sanggyun Ahn, Managing Partner of Anchor Equity Partners, said, "We are glad to join this partnership to support the growth of the most unique brand in Asia and globally. We have full confidence that SHIHYO will meet the discerning consumers' needs with new luxury beauty routines."
About L'Oréal Groupe
For over 110 years, L'Oréal, the world's leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 international brands and ambitious sustainability commitments in our ‘L'Oréal for the Future' programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.
With 85,400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2021 the Group generated sales amounting to 32.28 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 3,000 tech professionals, L'Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse. More information on https://www.loreal.com/en/mediaroom
About L'Oréal North Asia Zone
L'Oréal North Asia Zone was established in 2021 as L'Oréal Groupe regrouped the geographical scope of its zones to give greater coherence to consumer behaviour and to create synergy within the region. The North Asia Zone comprises of five geographically and culturally connected markets of Mainland China, Hong Kong, Taiwan, Japan and South Korea.
L'Oréal North Asia Zone is the second largest region within the Group, accounting for 30.5% of the Group's global sales in 2021. Situated in the most beauty intense region with more than one-third of the world's total beauty consumers, L'Oréal North Asia shapes the future of beauty with its innovation centers in Shanghai, Tokyo and Seoul, while investing in beauty tech transformation as one of the three beauty tech hubs globally. Here, our mission is to strategize, create and activate a powerful ecosystem around the North Asia Beauty Triangle as a competitive edge to unleash sustainable growth for all and inspire the world.