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The Goldman Sachs-backed make-up producer, wholesaler and retailer has appointed a lead bookrunner in addition to underwriters in preparation to listing on the Kospi bourse subsequent 12 months, sources instructed Pulse Information.
Based in 2003, GP Membership branched out from distributing gaming consoles to promoting magnificence merchandise in 2013 and now sells to wholesalers in markets like China. In 2018, robust demand from the mainland despatched gross sales surging to 554.3 billion received ($478.2 million); the corporate in 2019 achieved unicorn standing after Goldman Sachs invested 75 billion received ($64.9 million) in a deal that valued it at $1.32 billion.
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Their 10-step routines, snail serums and sheet masks took the world by storm 10 years in the past. Now, Korean magnificence manufacturers are going through a fiercely aggressive market and must suppose exterior the field.
https://www.businessoffashion.com/news/global-markets/k-beauty-unicorn-gp-club-eyes-2022-ipo | Okay-Magnificence Unicorn GP Membership Eyes 2022 IPO