French beauty powerhouse L’Oréal Group has partnered with Korean hotel-to-travel-retail company Hotel Shilla and Anchor Equity Partners to launch a newly created luxury beauty brand called, Shihyo.
The brand is being introduced through Loshian, a three-party joint venture. This is the first time L’Oréal has launched a new beauty brand through a joint venture.
Shihyo, which means ‘the wisdom of time’, is a newly created skincare beauty brand inspired by the Asian wisdom of the 24 seasons. Shihyo embodies the healthy energy of nature, powered by herbal sciences, L’Oréal said.
The new brand is based on the naturality of 24 herbal ingredients harvested at the peak of each season, combined with proven efficacy based on scientific research and innovation. All formulas include a signature ingredient called ShiHyo24, a patented, nutrient-rich concentrate of the 24 herbal ingredients infused with fermented rice water and ginseng water.
Shihyo offers 24 different types of ampoules featuring 24 herbal ingredients, along with other skincare products such as facial cleanser, essence, and cream, as well as scalp care products including shampoo and conditioner.
“Shihyo leverages L’Oréal’s longstanding beauty expertise, Hotel Shilla’s luxury retail channels, and Anchor’s robust financial business model,” said L’Oréal North Asia.
The company said that Shihyo’s first flagship store, the ‘Seoul Garden’ will open in coming months at The Shilla Seoul – the Korean company’s flagship hotel adjacent to the Shilla Duty Free’s main downtown store.
Asked whether the brand will be launched into travel retail, a L’Oréal North Asia spokesperson told The Moodie Davitt Report: “With the brand launch, we will first be focusing on providing a fully immersive brand experience through our flagship store in Korea and expanding to Asia leveraging L’Oréal Group’s expertise in beauty and Hotel Shilla’s expertise in retail. At this time, we don’t have any details to share regarding its availability in the travel retail market.”
The ambition is to engage with consumers through offering an immersive experience with an extensive luxury beauty product range. L’Oréal North Asia Zone is the second-largest region within the French beauty group, accounting for 30.5 percent of global sales in 2021.
L’Oréal Luxe president, Cyril Chapuy said, “L’Oréal Luxe is very pleased to announce the launch of Shihyo through a partnership with Hotel Shilla and Anchor Equity Partners. 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.”
Hotel Shilla President In-Gyu Han said, “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.
“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.”
Source: The Moodie Davitt Report