Estée Lauder Invests in Trendy South Korean Skin Care Company

With a number of South Korean beauty brand manufacturers taking the lead in developing innovative products, The Estée Lauder Companies Inc. has taken a direct approach to acquiring some of the cutting edge technology, and expanding it internationally. The New York-based company has signed an agreement to purchase an interest in Have & Be Co. Ltd., the South Korean company behind skin care brands Dr. Jart+ and Do The Right Thing. Terms of the investment were not disclosed. The deal is expected to close in December 2015.

Launched online in 2005 by ChinWook Lee, Dr. Jart+ has been a pioneer in the development and rapid proliferation of BB creams across the globe. Do The Right Thing is a men’s-focused skin care brand that fuses Korean innovation with what it calls “a bold New York style.”