Shanghai, China – In collaboration with Hotel Shilla and private equity firm Anchor Equity Partners, L’Oréal Groupe announced the launch of its new luxury beauty brand ‘SHIHYO’, through Loshian, a third-party joint venture.
This marks the first time L’Oréal is launching a new beauty brand through a joint venture.
SHIHYO is a newly created skincare brand inspired by the Asian wisdom of the 24 seasons, embodying the healthy energy of nature powered by herbal sciences. The brand’s first flagship store, the ‘Seoul Garden’, will open in the coming months at The Shilla Seoul Hotel in Korea.
“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, president of L’Oréal Luxe.
He added, “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, also commented, “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.”
Han further explained, “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, also 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.”
L’Oréal has also previously extended its partnership with digital-first agency Lion & Lion to introduce its science-forward skincare brand La Roche Posay to the Indonesian market.