L’Oréal and Hotel Shilla unveil Shihyo, their new luxury k-beauty brand
L’Oréal Group is launching a new luxury beauty brand, Shihyo, in collaboration with Hotel Shilla and Anchor Equity Partners. The brand is based on the naturality of 24 herbal ingredients.
L’Oréal North Asia has launched their new luxury beauty brand Shihyo, through a third-party joint venture called Loshian, in collaboration with Hotel Shilla and Anchor Equity Partners. This is the first time the French beauty conglomerate launches a brand through a joint venture.
“L’Oréal Luxe is very pleased to announce the launch of Shihyo through a partnership with Hotel Shilla and Anchor Equity Partners,” said Cyril Chapuy, L’Oréal Luxe president.
Shihyo, which stands for “the wisdom of time”, is based around “the naturality of 24 herbal ingredients” inspired by the traditional asian calendar and its 24 seasons. The 24 ingredients are harvested at the peak of each season and combined with scientific research. The brand is said to embody the healthy energy of nature. All formulas include the signature ingredient “ShiHyo24”, a patented nutrient-rich concentrate of 24 herbal ingredients infused with fermented rice and ginseng water.
“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” said Hotel Shilla President Han In-Gyu.
The luxury beauty range offers 24 different types of ampoules featuring each of the ingredients, alongside other skincare products such as hair products, facial cleansers, essence and cream.
“Rooted in an exceptional traditional wisdom and knowledge of naturality, Shihyo represents the epitome of Asian luxury beauty,” according to Cyril Chapuy, president of L’Oreal Luxe.
Seoul Garden, the brand’s first flagship store is set to open its doors at The Shilla Seoul Hotel in South Korea in the coming months.
With this new brand, L’Oréal confirms its will to expand further more in the North Asian market to become a major influencer of cosmetic trends. The ambition is to engage with consumers through offering an immersive experience with an extensive luxury beauty product range. L’Oréal North Asia Zone is the second-largest region within the French beauty group, accounting for 30.5 percent of global sales in 2021.
However the task is not easy for the french conglomerate as south-korean consumers are more sensitive to a product’s efficacy than its naturality.
In order to do so, L’Oréal joined two other luxury experts, Hotel Shilla and Anchor Equity Partners. Anchor Equity Partners is a private equity firm focused on consolidation and growth opportunities in Korea and North Asia whereas Hotel Shilla is an operator of luxury hotels and duty-free shops.
“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,” said Sanggyun Ahn, managing partner of Anchor Equity Partners.
“Shihyo leverages L’Oréal’s longstanding beauty expertise, Hotel Shilla’s luxury retail channels, and Anchor’s robust financial business model,” said L’Oréal North Asia.
“With the brand launch, we will first be focusing on providing a fully immersive brand experience through our flagship store in Korea and expanding to Asia leveraging L’Oréal Group’s expertise in beauty and Hotel Shilla’s expertise in retail. At this time, we don’t have any details to share regarding its availability in the travel retail market” answered a L’Oréal North Asia spokesperson when asked whether the brand will be launched into travel retail.
Sources
Shihyo : nouvelle gamme de luxe pour L'Oréal | Infonet
L’Oréal lance une nouvelle marque de cosmétiques de luxe en Asie du Nord. (journalduluxe.fr)
L’Oréal Unveils Luxury Beauty Brand Shihyo | Beauty Packaging
L’Oréal mise sur la K-Beauty avec SHIHYO, une nouvelle marque de luxe - Premium Beauty News
Meet Shihyo, L'Oréal's Upcoming K-Beauty Brand | TheBeauLife
Skin-Caring Herbal Ampoules : Shihyo (trendhunter.com)
L'Oreal launches luxury beauty brand Shihyo with Hotel Shilla - Inside Retail
L’Oréal Launches Shihyo, A Luxury Beauty Brand | HAPPI
L’Oréal Group launches new luxury brand through third-party JV, a first for the group – CPP-LUXURY
L’Oréal Group, Hotel Shilla and Anchor Equity Partners launch Shihyo - Retail in Asia
L’Oréal enters joint venture to launch new beauty brand (dfnionline.com)
L’Oréal Group launches new luxury brand Shihyo through third-party joint venture (fashionunited.uk)
