Premium aesthetic company Best Innovation Co., Ltd. (CEO Chae Yun-seok) announced on the 15th that it had attracted seed investment worth 23 billion won.
This investment was led by Mirae Asset Venture Investment, with participation from ▲Korea Investment Value Asset Management ▲Midas PE ▲Murex Partners ▲Kolon Investment ▲Mure Woods Ventures ▲Ulysses Capital, etc.
Best Innovation, established in 2019, is an H&B company that distributes skincare brand KOPHER and health food brand ANDO domestically and internationally. KOPHER is showing rapid growth with sales in the first half of 2024 growing 84% year-on-year, a high rating of 4.8 points (out of 5) or higher on the brand's official smart store, high profitability, and abundant cash flow generation.
Koper is a premium aesthetic brand that emphasizes high quality and high efficacy, and it offers a variety of products, including skin care, sun care, body care, and hair care. With this unique premium image, it is actively targeting the young and middle-aged age group in their 30s and above, who have purchasing power, as a masstige brand (a new word combining mass and luxury) in the global beauty market.
Through this investment, Best Innovation plans to ▲fully expand into overseas markets this year, including Japan, the US, the Middle East, and Indonesia ▲launch beauty devices ▲launch a global video content beauty platform ▲expand the target group to the 2030 generation and carry out design renewal projects.
In particular, the global video content beauty platform is structured to attract users to its own mall by utilizing YouTube, and it plans to focus on synergy effects by simultaneously running both beauty video content and beauty commerce programs.
A Mirae Asset Venture Investment official said, “Last year, indie brands and mid- to low-priced brands contributed greatly to the growth of K-beauty and achieved the highest export amount ever,” adding, “We hope that Best Innovation will write a new K-beauty success formula in the global market based on the achievements it has built up in the premium market.”
Chae Yoon-seok, CEO of Best Innovation, said, “We have achieved remarkable results during this cold investment season,” and added, “We will work hard to expand our main business of beauty, expand new businesses, and advance into the global market to achieve exports of 30 million dollars by 2025 and elevate the K-beauty ecosystem as well as our corporate value.”
Meanwhile, Koper launched a variety of functional lines, including whitening and lifting, on the Japanese e-commerce platform Qoo10 in September 2023, and ranked first in the beauty category. It later also ranked first on Rakuten. In April of last year, it entered the North American market and is accelerating its expansion into the global market, including entering Amazon in the United States.
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