Launched in 2004 as the fashion brand Stylenanda, the Korean firm has grown into a major retailer spearheaded by its makeup brand, 3CE, which now accounts for more than 70 percent of its business, according to L'Oreal.

With a turnover of 127 million euros ($152 million) last year, Nanda runs businesses in South Korea and a number of overseas markets, including Japan, Hong Kong, Singapore, Malaysia and Thailand.

Nanda will be operated separately from L'Oreal Korea's existing four business divisions in order to maintain its originality, it said. The online mall's founder Kim So-hee will join the team as the chief creative executive, L'Oreal added. (Yonhap)