Become a Vogue Business Member to receive unlimited access to Member-only beauty reporting and insights, our Beauty and TikTok Trend Trackers, Member-only newsletters and exclusive event invitations.
L’Oréal has acquired a majority stake in British skincare brand Medik8 for an undisclosed amount, strengthening its powerhouse dermocosmetics portfolio.
The move underscores the group’s ambition to dominate the science-driven skincare segment and signals renewed momentum in strategic beauty M&A after a notably quiet 12 to 18 months. As part of the deal, European mid-market private equity firm, Inflexion, will remain a minority stakeholder.
“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 Cyril Chapuy, president of L’Oréal Luxe, 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.”
L’Oréal’s thriving dermocosmetics division already includes category leaders like La Roche-Posay, Cerave, Vichy and Skinceuticals (dermocosmetics is defined as skincare products developed with dermatological expertise, often sitting between cosmetic and pharmaceutical). This portfolio has become one of the company’s engines of growth, capitalising on the wave of consumer demand for clinically backed, performance-driven skincare. The category generated €7 billion in revenue in 2024, up 9.8 per cent year-on-year, led by La Roche Posay and Cerave (its overall revenue was up 5.6 per cent to €43.48 billion).
In 2024, the group acquired a 10 per cent stake in Swiss pharma and dermatology company Galderma. “It [the Galderma investment] allows us to explore partnering in the fast-growing aesthetics market, a key adjacency to our own pure beauty play,” said L’Oréal Group CEO Nicolas Hieronimus at the 2024 annual AGM meeting.
The company has taken several other steps to solidify its position in this segment. In February this year, it acquired stakes in a network of medical aesthetic clinics in China and North America (the company names remain undisclosed), giving the group front-row insight into one of the world’s most experimental and fast-moving markets for cosmetic procedures. Then, in March 2025, L’Oréal announced a €20 million ‘Act for Dermatology’ initiative in partnership with the World Health Organization, aimed at improving global access to skin health education and research over five years.
Analysts say the timing of the Medik8 deal is significant, not only for L’Oréal Group’s strategic roadmap but for the broader M&A market, which has seen relatively few large-scale transactions since the 2019-2022 boom. “Dermacosmetics is a fast-growing skincare segment that investors should pay attention to,” says Celine Pannuti, head of the European staples and beverages team at JPMorgan Chase. “The market has strong growth prospects as consumers are more knowledgeable about ingredients and are seeking performance skincare, sometimes also in relation to aesthetic procedures.”
Both brands stand to benefit from the deal. “The acquisition strengthens L’Oréal’s position in science-driven skincare by integrating Medik8’s specialised talent and innovation culture, while offering the combined organisation a deeper pool of expertise, greater agility and enhanced appeal to top-tier professionals,” says Yvonne Pengue, founder and managing director at global luxury executive search firm and management consulting firm Spot on Minds. Sam Kaplan, partner at venture capital fund Five Seasons Ventures, agrees. “Strategics are focusing more and more on clinically-backed, science-based brands that bring material IP and proven results to their portfolios. L’Oréal has been at the forefront of this movement, and this acquisition continues to build that moat versus their competitors.”
For Medik8, the acquisition represents a pivotal growth moment. The British brand, which has maintained a lean operating machine to date by manufacturing products in-house, last reported a pre-tax profit of £15.6 million on revenues of £45.3 million in the year to September 2023, per filings with UK Companies House.
“Medik8 was born to prove that skincare can deliver results without compromise — rooted in science, obsessed with customer experience, and driven by sustainability,” said founder Elliot Isaacs in a statement. “I’m delighted that Medik8 has now found its long-term home at L’Oréal — a partner that fundamentally embraces our vision and gives us the platform to deliver it on a truly global scale.” Isaacs will stay on as founder and serve on the board. The current management team will also remain in place, led by CEO Simon Coble.
Medik8 will now be able to leverage L’Oréal’s expertise in formula innovation, product development and global distribution to further scale the business, says Marissa Lepor, managing director and head of beauty and personal care at investment banking firm The Sage Group. New market expansion will also work in Medik8’s favour. “Medik8 is primarily sold in English-speaking territories (US, UK, Australia) and L’Oréal’s acquisition will allow the brand to quickly expand geographically and build a stronger presence in other high spend, high growth markets like the Middle East,” adds Kaplan.
What should we expect from Medik8 under L’Oréal’s umbrella? “Access to L’Oréal’s labs will explode new product development opportunities and could see Medik8 enter adjacent categories, such as scalp care,” predicts Kaplan.
“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,” concluded Coble.
Comments, questions or feedback? Email us at feedback@voguebusiness.com.
