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Featured24 Apr 2023 10:01

SKS Capital leads Series B funding for Grace, Korea’s largest health and beauty aggregator

by Team AsiaTechDaily
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SKS Capital, a venture capital and private equity firm based in Shanghai and Taipei, has announced its strategic investment of $5 million in Grace, Korea’s largest aggregator of international health and beauty brands.

SKS Capital is the lead investor in Series B funding, and the capital raised will be used to expand Grace’s business operations and pursue growth opportunities in Southeast Asia, according to the announcement.

Grace, the largest supplier of Olive Young, Korea’s largest health and beauty retailer, supplies to online channels and over 50,000 offline points of sale in Korea.

The company has been growing its business by partnering and exporting Korean brands to over 60 countries via B2B and D2C channels. With the investment from SKS Capital, Grace will be able to transform into a major player in Southeast Asia.

According to Grand View Research, the Asia-Pacific beauty market is expected to grow at a compound annual growth rate (CAGR) of 8.2% from 2020 to 2027. SKS Capital aims to source potential investments in the APAC region and introduce the company to new markets to drive business advancement.

SKS Capital founder Jack Chen said, “Grace has always been successful because of their use of data and riding the K-beauty wave. Now combining our capital and resources on the ground in Southeast Asia, we will be able to help Grace grow and succeed even further.”

Grace founder Abraham Cho said, “The brand aggregator strategy has been to diversify our product offerings and to rely on the recession-resistant health and beauty industry. With SKS’ expertise in marketing, distribution, and logistics, Grace will be able to transform into a major player in Southeast Asia.”

SKS Capital will support Grace’s expansion by bridging connections in Southeast Asia, where SKS has a strong presence in the beauty ecosystem, including supply chain, logistics, distributors, licensees, e-commerce, retailers, and connections with celebrities.

This deal is part of SKS Capital’s continuous strategic investment in the beauty and personal care sector. The firm specializes in the consumer industry, covering beauty and health D2C brands, F&B, distribution channels, e-commerce, beauty supply chain, and consumer enabling technologies.

Tags: GraceSKS Capital

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