THE WHAT? South Korean ‘beauty tech’ company APR Corp has received a US$60 million financial injection via a pre-initial public offering investment following a company valuation of around 700 billion won, according to a report by Aju Daily.
THE DETAILS The company has brands in the cosmetics sector such as Medicube, Aprilskin and AGE-R, as well as fashion and entertainment industries.
THE WHY? With beauty tech becoming increasingly incorporated into consumer’s everyday lives, the industry is thriving.
APR is set to drive its investment in its beauty device businesses to bolster its development capacity, looking to implement a ‘vertical process’ supply system.
The company said in a statement: “Through this investment, APR will set a footstone to become a unique company with strong capabilities in innovative beauty device development and product supply.”
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