Hamburg/Germany and Seoul/Korea, December 9,
2019 – Beiersdorf has acquired a
significant stake in Seoul-based LYCL Inc., thus becoming the second largest
shareholder of the rapidly growing skin care and tech start-up. This investment
out of Beiersdorf’s venture fund is a natural fit with the C.A.R.E.+ strategy
to win in skin care and drive consumer centricity through digitalization. Moreover,
it further strengthens Beiersdorf’s footprint in Korea and the region.
“We see great potential in
LYCL’s disruptive business model and its high degree of digital consumer
connection,” Dessi Temperley, Chief Financial Officer of Beiersdorf said. With
its two beauty platforms, LYCL already has access to more than 1.2 million
consumers. Based on their insights, the company has implemented a disruptive
data-driven innovation process to develop and market skin care products under
the “unpa.Cosmetics” brand. “The digital innovation capabilities and strong
consumer centricity of LYCL have resulted in triple-digit
growth rates over recent years, and
we believe the business model is geographically scalable,” Temperley added.
Endrik Hasemann, General Manager Beiersdorf South
Korea, sees the investment into LYCL also as a proof of concept: “The decision
to launch the NIVEA accelerator in Korea as part of our global venturing
activities was made based on the belief that the Korean ecosystem is a
frontrunner regarding beauty and tech trends. We strongly believe in the future
success of LYCL, and we are looking forward to driving excellent consumer
experiences and skin care innovations to the next level together.”