SEOUL, Nov. 21 (Korea Bizwire) — French cosmetics giant L’Oreal SA said Monday it has launched a new skin care brand called Shihyo, with Hotel Shilla Co. and Anchor Equity Partners.
The announcement comes after the trio announced in June they would co-invest in the launch of a new luxury beauty brand.
Shihyo, which means “wisdom of time,” was inspired by the 24 solar terms in the traditional Asian calendar, it said.
The brand offers a range of products from moisturizers to facial cleansers and shampoo.
It’s characterized by an ingredient called Shihyo 24, which is a blend of extracts from 24 natural ingredients, such as ginseng and rice water, representing each solar term, the company explained.
Products from Shihyo will be made available in the next few months at Hotel Shilla, the beauty conglomerate said.
Anchor Equity Partners is a private equity firm focusing on investment opportunities in Asia. It owns a stake in the e-grocery store Market Kurly and Dunamu, a Korean cryptocurrency exchange.
Hotel Shilla is a luxury hotel chain in Korea and the parent company of The Shilla Duty Free.