Tect Group Inc. has attracted seed investment from Base Ventures and Kakao Ventures. The investment amount was not disclosed.
The Tek Group will focus on North America and Japan, and based on the concept that “skin doesn’t always want the same thing,” it plans to provide a differentiated brand in the personal and emotional global skincare market. Combining the agile organizational culture of IT startups with beauty and fashion brand strategies, the Tek Group has strengths in developing hero products and accelerating brand growth. Starting with the North American market in particular, it plans to present a new paradigm to the global skincare market through a community-based agile marketing strategy.
The Tect Group is formed around CEO Myung-gyu Kim, who founded a B2C IT startup and was in charge of the online business of the fashion brand Pottery. The team is comprised of talents optimized for building differentiated brands and agile marketing, and currently includes experts from various industries such as Toss, On the Look, Tamburins, Low Classic, and Narka.
Base Ventures’ Senior Team Leader Yang Hyeong-jun stated the reason for the investment, saying, “CEO Kim Myeong-gyu was the CEO of a company that Base invested in early in 2019, and we expect that he will achieve excellent results globally based on his outstanding execution and leadership.” Kakao Ventures’ Senior Reviewer Ahn Hye-won evaluated, “Tekt Group is a team that can lead rapid growth in the K-beauty market with an agile approach unique to IT.”
Kim Myung-kyu, CEO of Tektgroup, said, “We will go beyond K-beauty, which was a functional product, to establish ourselves as a global brand and present a new brand growth model through agile marketing.” He also expressed his ambition to “take responsibility for every moment of the day needed for more than 100 million people to age healthily and beautifully, and leap forward as the next-generation Estée Lauder Company.”
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