Shiseido has announced that it has signed a definitive agreement to acquire New York derma cosmetics brand Dr. Dennis Gross Skincare.
The acquisition expands Shiseido’s prestige skincare portfolio, which includes Shiseido as well as Clé de Peau Beauté and Drunk Elephant. In a release announcing the deal, Masahiko Uotani, chairman and chief executive of Shiseido, said the brand’s “scientific and innovative approach to beauty” aligned with Shiseido’s portfolio. He also emphasised the importance of the brand to drive sales growth in the Americas, which accounted for 11.3 percent of Shiseido Company’s global sales for the first nine months of 2023. The acquisition is expected to help the company diversify geographically.
Founded by dermatologist Dr Dennis Gross and his wife Carrie Gross in 2000, the brand popularised the at-home facial peel via its Alpha Beta Daily Peel. Dr. Dennis Gross Skincare’s position as a high-growth, profit accretive skin care brand in the Americas is likewise anticipated to contribute to Shiseido’s ongoing expansion in the territory.
In turn, Shiseido’s skin care heritage, global reach and R＆D capabilities will support Dr. Dennis Gross Skincare to accelerate its next phase of growth, said the conglomerate.