The Estée Lauder Companies Inc. has announced it will acquire the outstanding two-thirds of shares in Have & Be Co., the company behind Dr. Jart+ and Do The Right Thing, in December 2019. This is Estée Lauder's first acquisition of an Asia-based company and represents an expansion of its minority investment in Have & Be Co. in December 2015. Have & Be Co. is valued at about $1.7 billion. Since the initial investment, Dr. Jart+'s growth has been significant, per the companies, and the brand is expected to reach more than $500 million in net sales for 2019. Dr. Jart+, which was founded in 2005 by CEO ChinWook Lee, is a skin care brand that combines dermatological science and art–symbolized through its full name, Doctor Joins Art. It is available in more than 35 countries and offers a wide range of moisturizers, masks, cleansers and more. Estée Lauder hopes its acquisition will grow consumer reach in Asia/Pacific, North America, the United Kingdom and travel retail.