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Commerce

Stacking prestige division, Shiseido purchases Dr. Dennis Gross Skincare

December 26, 2023

The acquisition of Dr. Dennis Gross Skincare is said to complement Shideido’s portfolio of prestige and luxury brands. Image credit: Shiseido Founded by a licensed dermatologist, the pharmaceutical-grade product line will join Shideido’s portfolio of luxury brands. Image credit: Shiseido

 

By Luxury Daily News Service

Japanese beauty group Shiseido is enhancing its prestige portfolio.

Executed by Shiseido Americas Corporation, a subsidiary of parent Shiseido Company, executives have agreed to acquire New York-based brand Dr. Dennis Gross Skincare through the purchase of DDG Skincare Holdings LLC. The pharmaceutical-grade product line furthers Shiseido’s corporate mission of spreading “beauty innovations for a better world,” according to the group.

“This transaction is well-aligned with Shiseido’s 2030 goal of becoming a personal beauty wellness company that supports people in realizing unique beauty and wellness throughout their lives,” said Masahiko Uotani, chairman and CEO of Shiseido, in a statement.

“Dr. Dennis Gross Skincare is the perfect complement to our global portfolio of prestige brands as their core values are aligned with ours in terms of their scientific and innovative approach to beauty and our people-first culture,” Mr. Uotani said. “We are thrilled to welcome the Dr. Dennis Gross Skincare team to the Shiseido family, and I am confident Dr. Dennis Gross Skincare will accelerate our growth in the Americas, a region that has experienced strong business performance, thanks to our portfolio of exceptional brands.”

New addition
Shiseido is taking steps to strengthen its portfolio of prestige and luxury labels while accelerating efforts to expand its core skincare offerings beyond luxury beauty label Clé de Peau Beauté.

The plan to take up a stake in the U.S.-based brand — stockists include stores such as LVMH-owned beauty retailer Sephora, as well as spas locations nationwide — was initially announced on Dec. 22.

More than 20 years ago, Dr. Dennis Gross, who still serves as CEO, launched his eponymous brand with his wife Carrie Gross. The range focuses on pharmaceutical-grade solutions and advanced formulations.

Today, leaders expect Shiseido's buyout to help the skincare brand reach its strategic growth targets through expansion into new markets. The deal is expected to close in the first quarter of 2024 following regulatory approvals.

Dr. Gross and his wife have run the company together since its inception. Image credit: Shiseido Dr. Gross and his wife have run the company together since its inception. Image credit: Shiseido

“We launched Dr. Dennis Gross Skincare in 2000 with the mission of making a difference in the lives of all people everywhere by helping them achieve healthier skin,” said Dr. Gross and Ms. Gross, in a statement.

“We’ve built an incredible brand with a deep clinical foundation and loyal consumer base, and we are thrilled to have found a partner that shares our values,” he said. “With its long and rich heritage blending beauty with science, Shiseido is the ideal home for Dr. Dennis Gross Skincare, and we look forward to partnering with the Shiseido team as we continue developing innovative products and skincare solutions that deliver visible results.”

Luxury M&As in this segment are expected to ramp up in the months to come, according to experts.

Recent reports from global consulting management firm Kearney reveal that among all beauty and personal care (BPC) categories, skincare is widely viewed by executives as the most relevant and likely to grow in the lead-up to 2025. BPC transactions valued at over $1 billion and under $100 million are predicted to increase in frequency, with acquisitions valued in between those two financial segments decreasing over the next two years (see story).

 
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