L’Oréal Reportedly Planning €1 Billion Acquisition of Medik8

Rumors are circulating about L’Oréal potentially acquiring the UK skin care brand Medik8 for approximately €1 billion. According to a report by The Financial Times, the acquisition deal is allegedly close to being finalized, though the timeline might change. Rumors about this acquisition started in May, and it would strengthen L’Oréal’s presence in the dermocosmetics sector.

Medik8, a premium skin care brand founded in 2009 by Elliot Isaacs, focuses on vitamin A products, particularly retinal, an alternative to retinol. Their popular line, Crystal Retinal, makes up 82% of their retinoid unit sales. Medik8’s global revenues are expected to reach around $115 million this year, with sales growth of 50% projected for 2024.

Cosmetics Business has sought comments from both Medik8 and L’Oréal regarding the rumored deal.