French cosmetics giant L’Oréal is set to acquire a majority stake in British skincare brand Medic8. UK-based private equity firm Inflexion is handling the sale. L’Oréal and Inflexion announced the deal in separate statements on Monday, but terms of the deal were not disclosed.

Reuters reported that the deal valued Medic8 at an enterprise value of around 1 billion euros, according to a source familiar with the matter.

L’Oréal said in a statement that the acquisition would strengthen its luxury portfolio. Medic8 is a brand with a proven track record and potential to grow in the global market.

L’Oréal’s luxury sales growth slowed to 2.7 percent last year due to high inflation, as many consumers turned to more affordable brands. However, luxury sales were the slowest growth in any other category, although L’Oréal still trails rival LVMH in this area.

L'Oreal's current owner, Françoise Bettencourt Meyers, is one of the world's richest people. She is ranked 20th on Forbes' 2025 list of billionaires. Her net worth was $81.6 billion, according to the list released on April 25, which had risen to nearly $90 billion by early June. She is the granddaughter of L'Oreal founder Eugene Schueller.

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