Seoul, Nov. 21 (BNA): French cosmetics company L’Oreal announced on Monday that it has launched a new skin care brand called Shihyo, in collaboration with Hotel Shilla and Anchor Equity Partners.
The announcement comes after the trio announced in June that they would co-invest in the launch of a new luxury beauty brand.
South Korean news agency Yonhap said Shihyo, which means “wisdom of time,” was inspired by the 24 solar terms in the traditional Asian calendar.
The brand offers a range of products from moisturizers to facial cleansers and shampoos. It features an ingredient called Shihyo 24, the company explained, which is a blend of extracts from 24 natural ingredients, like ginseng and rice water, representing every solar term.
The beauty giant said Shihyo products will be available in the next few months at Hotel Shilla.
Anchor Equity Partners is a private equity firm focused on investment opportunities in Asia. She owns stakes in online grocery store Market Kurly and Dunamu, a Korean cryptocurrency exchange.
Shilla Hotel is a luxury hotel chain in Korea and the parent company of Shilla Duty Free.
HF