Brand aggregator BeautySelection acquires Dentio and GreyGround to accelerate brand expansion
BeautySelection, a South Korea-based brand aggregator, announced today that it has completed the acquisition of Labdoku’s dental care brand Dentio and beauty brand Greyground. The purchase price is undisclosed.
Through this acquisition, Beauty Selection plans to develop into a full-fledged comprehensive lifestyle commerce beyond the existing beauty and Dietary supplements market.
On February 13, BeautySelection officially transferred the business rights including major production and contracts for two of Labdoku’s brands after smooth discussions with Labdoku. As a result, Beauty Selection now operates a total of 10 brands in the fields of beauty, dietary supplement, fashion, dental, and perfume.
Dentio, launched in 2019, was ranked as the 4th most popular brand on NAVER Shopping based on its product power, including making its representative product ‘Sokgagl’ a uniquely named keyword in the dental market, and exceeded KRW 3 billion in annual sales in 2020. Since then, it has grown into a comprehensive dental brand by introducing various products for oral health.
GreyGround, which launched around the same time, offers a variety of perfume products that express the sensibility of travel destinations through collaborations with perfumers and pen artists. In 2020, the brand was featured on Olive Young, Korea’s No. 1 health and beauty (H&B) channel, and was ranked as the No. 1 perfume in Korea and abroad.
“BeautySelection’s know-how in the influencer commerce channel and its experience in steadily growing acquired brands made us the preferred negotiating partner,” said Jeon Ju-hong, CEO of Labdocu.
Jae-bin Park, CEO of BeautySelection, said, “In order to value up the two acquired brands, we are planning to upgrade product power through rebranding and launching premium lines, enter influencer commerce channels, and expand into global markets.” “Especially for global expansion, we are actively discussing entering H&B channels on an international scale, such as Loft in Japan and L’etoile in Russia.”
Meanwhile, BeautySelection, a brand aggregator, has a history of steady growth by acquiring fashion brands with annual sales of 10 billion won in April last year. In addition, based on its 200% annual growth rate in the hotly contested commerce market and its strength in operating influencer channels, it successfully attracted a total of 13 billion won in Series A funding from leading venture capital (VC) firms including Altos Ventures in August last year.
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