Leading private equity firm SKS Capital invests in South Korea’s Grace
The deal will enable the expansion of Korea’s largest distributor of beauty brands in Asian markets
TAIPEI, April 24, 2023 /PRNewswire/ — Leading venture capital and private equity firm, SKS Capital, is announcing its strategic investment in Grace, Korea’s largest aggregator of international Health and Beauty brands. SKS Capital is the lead investor in Series B funding with USD 5 million.
The capital will be used to expand Grace’s business operations and pursue growth opportunities in the region, focusing on scaling operations, hiring personnel, and developing new service offerings.
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.”
Grace is the largest supplier of Olive Young, Korea’s largest health and beauty retailer, and supplies to online channels and over 50,000+ offline point of sales in Korea. Grace has been growing its business by partnering and exporting Korean brands to over 60 countries via B2B and D2C channels. Korean beauty brands are becoming increasingly popular among Asian consumers, as many are drawn to the innovation and quality.
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.
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.”
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.
This deal is part the continuous strategic investment in the beauty and personal care sector by SKS Capital, with headquarters in Shanghai and Taipei. “Our main focus is to source potential investments in the APAC region, and to introduce the company to new markets to drive business advancement,” added Chen.
About SKS Capital
SKS Capital, founded in 2017, is one of the first modern venture capital and private equity firms in Asia specializing in the consumer, covering: beauty & health D2C brands, F&B, distribution channels, e-commerce, beauty supply chain, and consumer enabling technologies. Learn more at https://skscapital.co/
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