Shiseido to acquire Dr Dennis Gross Skincare
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Business |Beauty
The Shiseido Americas Corporation, a subsidiary of the beauty conglomerate Shiseido Company, is acquiring Dr Dennis Gross’ parent company DDG Skincare Holdings, to diversify its portfolio and drive growth in its Americas business.
The US-based DDG, headquartered in New York, offers dermatologist-led, science-based prestige skincare brand Dr Dennis Gross Skincare, founded by former skin cancer researcher and practising dermatologist Dr Dennis Gross along with his wife Carrie Gross.
Known for its cult Alpha Beta Daily Peels, Shiseido said that the Dr Dennis Gross acquisition would add “a highly complementary brand” to its existing prestige skincare portfolio, which includes Shiseido, Clé de Peau Beauté and Drunk Elephant, while also addressing a growing interest from consumers surrounding “skin health”.
In addition, Shiseido notes that the acquisition of a high-growth, profit-accretive skincare brand will “contribute to the ongoing expansion of the Americas business,” which is a strategically important region for the beauty conglomerate as it looks to diversify its geographical footprint.
Masahiko Uotani, chairman and chief executive of Shiseido, said in a statement: “This transaction is well-aligned with Shiseido’s 2030 goal of becoming a personal beauty wellness company that supports people in realising unique beauty and wellness throughout their lives. 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.
“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.”
The transaction is subject to customary regulatory approvals and closing conditions and is expected to close in Q1 of 2024.