APR Secures KRW 1 Trillion in Pre-IPO Investment
Attracted pre-IPO investment from CJ ONSTYLE
Acknowledged as a unicorn company by a major corporation
Expected to secure additional investment for its beauty device, which is drawing increasing attention in the industry, and establish industrial synergy between companies
Will strive to dominate the future beauty market and achieve greater enterprise value
SEOUL, SOUTH KOREA--(Korea Newswire) June 22, 2023 -- APR Corp. (APR), a global beauty tech company, was valued at an enterprise value of about KRW 1 trillion by CJ ONSTYLE.
APR (CEO: Byunghoon “Victor” Kim) announced that it has attracted a pre-IPO investment of KRW 1 trillion from CJ ONSTYLE (CEO: Sanghyun Yoon). This investment, which was solely executed by CJ ONSTYLE, is the second investment the company has attracted this year following the pre-IPO investment in March in which NH-Soo Investment Innovative Growth M&A Fund, SJ Partners, and Industrial Bank of Korea participated.
CJ ONSTYLE’s investment is based on the recognition of APR’s market power, which was demonstrated through the sales performance of medicube AGE-R, a beauty device brand of APR, and its continuous launch of new products. medicube AGE-R has established itself as a leading home beauty care brand about two years and two months since its launch by recording a cumulative sales volume of one million in the domestic and overseas markets.
APR aims to create synergy by combining the powerful distribution network and expertise of CJ ONSTYLE with its technology. medicube AGE-R is growing as a differentiated beauty brand with its product lineup expanded from the existing products for face care to those for the whole body.
The industry evaluates that APR has joined the ranks of “unicorn companies” by achieving recognition of its enterprise value of KRW 1 trillion through investment. The title of unicorn company is given to a business that has achieved an enterprise value of KRW 1 trillion prior to market listing based on the announcement of CB Insights or the Ministry of SMEs and Startups. Although not listed in these announcements, APR is worthy of evaluation as a unicorn company based on its investment accomplishments and growth potential, according to the industry.
“With our growth potential acknowledged, we were able to have our enterprise value recognized as KRW 1 trillion following the pre-IPO of KRW 700 billion in March this year,” said an APR official. “We will dominate the future beauty market by intensively fostering our beauty device planning, development, and production capabilities, and dedicate the utmost effort to achieving a higher enterprise value.”
APR is preparing for market listing with a goal of preliminary review document submission within the year. The major underwriter is Shinhan Securities.
About APR Corp.
APR Corp. is a global beauty technology company founded in 2014. The company aims to provide products and services which improve customers’ daily lives, as its mission, ‘Advance People’s Real life’. APR owns multiple beauty and fashion brands such as medicube, AGE-R, NERDY(whoisnerdy), Aprilskin, FORMENT, Glam.D Bio, and Photogray.
This is a news release distributed by Korea Newswire on behalf of this company.