The Estée Lauder Companies has acquired Have & Be Co. Ltd., the company that owns global skincare brand Dr. Jart+ and men’s grooming brand Do The Right Thing. This new found partnership between Estée Lauder and Dr. Jart+ will helped further strengthen Estée’s leadership position within the skincare segment of the beauty industry and will help expand its reach in Asia/Pacific, North America and the UK. Estée Lauder expects net sales to increase by $500 million as a result of the acquisition.
“We have built an incredible, long-term partnership with ChinWook Lee and his terrific team over the last four years, and we are so pleased to officially welcome this fast-growing and globally beloved brand into our portfolio,” said Fabrizio Freda, president and CEO of The Estée Lauder Companies. “As the Company’s first acquisition of an Asia-based beauty brand, Dr. Jart+’s focus on creating high-quality skin care products that fuse dermatological science, incredible innovation capabilities and artistic expression make it a terrific, strategic addition to our diverse portfolio of prestige beauty brands. We look forward to continued global growth in the years to come.”
“The Estée Lauder Companies is the ideal home for our brands,” said Lee, founder and CEO of. Have & Be Co. “Since the beginning of our partnership four years ago, the Company has shared our mission to provide the very best skin care and beauty products to consumers around the world. We are excited for the opportunity to continue this partnership as we continue to innovate and grow our brands globally.”
“The entrepreneurial spirit and creativity of Dr. Jart+ is a perfect fit for The Estée Lauder Companies,” said William P. Lauder, executive chairman of The Estée Lauder Companies. “As consumers increasingly focus on skin care and the category continues its rapid global growth, the influence of cutting-edge, scientifically-driven brands like Dr. Jart+ is undeniable. We are delighted to welcome ChinWook Lee and his entire team to our family.”