Aging is a privilege, but I work really hard to make sure that my skin doesn’t show off that privilege.
I spend an absurd amount of money on skincare products. But it’s just a tiny contribution toward the $26 billion in sales projected this year for the skincare industry.
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I have my favorites among the legacy brands sold in drugstores and department stores, but I’m often swayed by newer brands I see on Instagram. Every day, I scroll through a parade of serums, creams, and more that promise to firm, lift, tighten, and moisturize my skin.
I click “buy” more than I care to admit, especially if there’s scientific evidence that it works (and even if the science goes over my head).
The ever-growing popularity of #SkinTok has prompted some legacy brands to work a bit harder to stand out among the sea of skincare competitors, especially when it comes to capturing the attention of Gen Z, which craves clean beauty products.
Related: Ulta Beauty issues stern warning as consumers switch gears
According to a report by Revieve, an AI-powered beauty and wellness tech company, 56% of Gen Z want fragrance-free beauty, and 33% want to ditch the parabens. Vegan beauty and skincare options? Yes, please.
Legacy skincare is listening. One of my all-time favorite brands just made a major move to ensure that the younger generation is “worth it” by increasing its portfolio of science-backed skincare.
Image source: Shutterstock
L’Oréal adds Medik8 to its beauty brand portfolio
Legacy beauty brand L’Oréal (LRLCY) has announced that it signed an agreement for the acquisition of a majority stake in Medik8, a British skincare brand. The deal was for an undisclosed sum, although reports suggest the deal is valued at around $1.1 billion.
European mid-market private equity firm Inflexion will stay on as a minority stakeholder.
Medik8 sales were in the ballpark of $70 to $80 million in 2024, as reported by Business of Fashion, even without a presence in Sephora or Ulta. The brand will be joining the Luxe Division at L’Oréal, which currently houses premium skincare brands including Kiehl’s, Youth to the People, and Aesop.
“We are delighted to welcome Medik8 to the L’Oréal family. As a premium skincare range, with high levels of proven efficacy at an accessible price point, Medik8 perfectly complements our existing skincare portfolio,” said L’Oréal Luxe President Cyril Chapuy in a statement.
“We share a strong belief in Medik8’s global potential and are excited to embark on this journey together, to build a powerful and impactful brand presence worldwide,” he added.
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Medik8, founded by scientist Elliot Isaacs, is backed by scientific research and innovation. Its premium skincare products include the best-selling Crystal Retinal Serum and its Liquid Peptides Advanced MP Face Serum (the latter was currently sold out on the Medik8 site at the time of this writing).
Nearly all its products are developed and manufactured in the ISO-certified Innovation Center just outside of London.
L’Oréal taps into a wider, skincare-obsessed audience
Certain generations need no introduction to L’Oréal. The famous L’Oréal Paris tagline “Because you’re worth it” likely echoes in many Boomers’, Gen Xers’, and Millennials’ brains.
But Gen Z? Unless it’s on Instagram or #SkinTok, where products are being hawked by favorite celebrities and influencers with a direct link to buy, even legacy cosmetic brands can find themselves lost amid a sea of products.
That’s where science-backed Medik8 comes in.
Aside from getting the nod by dermatologists and beauty editors, celebrities like Hailey Bieber and Rosie Huntingon-Whiteley are known to use Medik8 products as part of their skincare routines — specifically, the Medik8’s R-Retinoate Cream.
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Although Bieber is the founder and creative director of Rhode — the company recently purchased by E.l.f. Cosmetics — she is a Medik8 fan. And she has over 55 million followers on Instagram and nearly 16 million on TikTok, many of whom are likely eager to replicate her glowing complexion.
It’s worth noting that Bieber’s social media stats alone eclipse the follower counts of both L’Oréal and Medik8 many times over.
“This is an exciting day for Medik8,” said Medik8 CEO Simon Coble. “I am delighted to be joining forces with a company which shares our vision for the brand’s future growth and whose core values align with our deep commitment to science, innovation and above all, results without compromise. I look forward to the next stage in Medik8’s journey, as we work together to bring our innovative products to a wider audience.”
L’Oréal’s acquisition of Medik8 will likely be completed in the next few months, pending regulatory approvals and other conditions.
Related: Sephora unveils new brand partnership Gen Z will love
