THE WHAT? L’Oréal has partnered with hotel brand Hotel Shilla and Korean private equity company Anchor Equity Partners to launch a new luxury beauty brand. 

THE DETAILS L’Oréal is aid to be aiming to harness Asian wisdom in a contemporary way by fusing natural ingredients and functional efficacy, according to Aju Daily.

The three-way investment will be split almost equally, with financial terms of the deal not disclosed. 

THE WHY? The collaboration is the latest South Korean business partnership for L’Oréal, which is said to be looking to maintain its brand power in Asia.  

L’Oréal said, “This novel three-party partnership will bring together a unique combination of L’Oréal’s beauty expertise, supported by Shilla’s luxury retail channel and underpinned by Anchor’s robust financial and business model.”