International vacationers store for cosmetics at an Olive Younger retailer at Incheon Worldwide Airport, Dec. 16. Yonhap
A rising variety of home cosmetics producers and distributors are gearing up for preliminary public choices (IPOs) this 12 months as the worldwide reputation of Korean magnificence merchandise continues to gasoline enterprise enlargement, in line with funding banking business officers, Sunday.
Goodai World, which operates a number of Ok-beauty manufacturers together with Great thing about Joseon, is about to wrap up bidding on Wednesday to pick its IPO underwriters. The corporate launched IPO preparations final month by distributing requests for proposals to securities companies at dwelling and overseas. It plans to finalize a shortlist on Jan. 21, adopted by aggressive displays on Jan. 26 and 27 to kind its underwriting lineup.
Based in 2015, Goodai World has positioned itself as “Korea’s L’Oreal,” increasing its scale by buying native indie manufacturers that had already gained traction in abroad markets.
Its key manufacturers embrace Great thing about Joseon, which gained international recognition via its sunscreen merchandise, in addition to Tirtir and Skinfood, each of which discovered early success in Japan.
“Manufacturers beneath Goodai World’s wing have been constructing consciousness primarily via on-line platforms, a momentum that’s now driving their enlargement into offline channels overseas,” Cho So-jung, an analyst at Kiwoom Securities, mentioned. “Goodai World is predicted to evolve into a worldwide magnificence firm with strong stability and powerful progress potential within the years forward.”
On the again of its aggressive enterprise enlargement, the corporate attracted substantial funding final August via the issuance of convertible bonds totaling round 800 billion gained ($548 million). The deal reportedly included a clause requiring the corporate to finish an IPO by 2028, main market watchers to venture that the agency might go public as early as subsequent 12 months.
In the meantime, Benow, a cosmetics producer, appointed Samsung Securities as its IPO underwriter in September 2024 and is planning a inventory market debut later this 12 months.
The corporate operates a number of magnificence manufacturers, together with Numbuzin and Fwee, and has stepped up its abroad enlargement by establishing subsidiaries in Japan in 2023 and america in 2024.
Korean magnificence distributors, together with Grace and Asia BNC, are additionally transferring forward with plans to go public.
APR, which went public in February 2024 on the nation’s predominant bourse, the KOSPI, is highlighted inside the magnificence sector as a benchmark case of a profitable inventory market itemizing.
Supported by fast progress in abroad gross sales, the corporate overtook Amorepacific final 12 months to say the highest spot amongst Korean magnificence companies by market capitalization. As of the closing worth final Friday, APR’s market worth stood at about 8.6 trillion gained, surpassing Amorepacific’s roughly 7 trillion gained.
Ok-beauty IPO exercise remained brisk in 2025. Dalba World debuted on the KOSPI in Might, whereas Aromatica entered the Kosdaq market in November.
