South Korea’s beauty scene is changing fast. Goodai Global Inc., a fast-growing beauty company, just secured a massive ₩800 billion ($600 million) investment from six top private equity and venture capital firms. This move will help the company acquire two well-known brands—Round Lab and Skinfood—for ₩750 billion, taking its expansion strategy to the next level.
IMM Private Equity Leads the Funding
IMM Private Equity is leading the round. The firm is completing due diligence before investing ₩280 billion in convertible bonds (CBs). The deal is expected to wrap up by the end of August 2025. IMM’s interest highlights growing investor appetite for Korea’s indie beauty industry.
Along with IMM, JKL Partners and Premier Partners plan to invest ₩120 billion each, also through CBs. The rest of the funding will come from Kiwoom Private Equity and Company K Partners, a well-known venture capital firm.
Together, these firms believe Goodai has the right mix of market vision, brand strength, and growth potential.
From Startup to Strategic Acquirer
Goodai started in 2016 as a marketer and distributor of Korean beauty products. It focused on indie beauty brands and trend-based marketing. However, the company changed its game in 2019, shifting from distribution to acquisitions.
Inspired by L’Oréal’s global expansion strategy, Goodai started buying promising Korean brands. Its goal was to build a full-spectrum beauty powerhouse—covering skincare, color cosmetics, and even manufacturing.
Unlike traditional beauty companies, Goodai doesn’t create everything in-house. Instead, it identifies brands with loyal fanbases and growth momentum, then scales them up using shared operations and marketing resources.
Brands Already Under the Goodai Umbrella
Over the last five years, Goodai has acquired several popular names:
- Beauty of Joseon: A heritage skincare brand using traditional Korean ingredients.
- TIRTIR: Known for its glowing base products and minimal aesthetic.
- House of Hur: A rising makeup label with strong appeal among Gen Z users.
- Laka Cosmetics: Korea’s first gender-neutral makeup brand.
- Craver Corporation: A wholesale and marketing firm that supports B2B beauty operations.
These brands helped Goodai grow its footprint quickly. The company now has strong online sales, a recognizable brand portfolio, and a loyal customer base in Korea and abroad.
Two Big Acquisitions Ahead
Goodai now has its eyes on two major targets. These deals could elevate the company to a top-tier player in Korean beauty:
- Round Lab (Seorin Company): Round Lab’s Dokdo Toner enjoys cult status. It’s one of Korea’s most trusted skincare products. Goodai plans to buy the parent company, Seorin, for about ₩600 billion. If the deal closes, Round Lab could become the crown jewel in Goodai’s portfolio.
- Skinfood: Founded in the early 2000s, Skinfood was one of Korea’s original indie brands. Though it struggled in recent years, its brand name still carries weight. Goodai is working with The Hahm Partners, a Seoul-based investment firm, to revive and acquire the brand.
Both acquisitions reflect Goodai’s focus on scaling established brands rather than building new ones from scratch.
Major Jump in Earnings Expected
These new deals will bring financial firepower. Goodai expects its EBITDA to triple from ₩130 billion in 2024 to ₩450 billion in 2025. This sharp rise in core profits will likely push the company’s valuation much higher. It also strengthens Goodai’s case for a potential IPO or a future global partnership.
The EBITDA forecast also shows that the acquisitions aren’t just for show—they bring real revenue and cost synergies.
Why Private Equity Loves This Deal
The six firms backing Goodai are not newcomers. IMM, JKL, and Premier Partners have long tracked consumer and retail growth in Asia. Their decision to invest through convertible bonds reflects confidence in Goodai’s execution while managing risk.
CBs give these firms the flexibility to convert their debt into equity later, allowing them to benefit from future valuation gains. Meanwhile, Goodai gets the funds it needs without giving away ownership too soon.
This structure works well for high-growth companies that aim to scale rapidly while keeping long-term control.
A Strategy Inspired by L’Oréal
Goodai openly models itself after L’Oréal, the French cosmetics giant. But it adapts that strategy for Korea’s unique market. Instead of building its own brands, Goodai buys, integrates, and scales.
It selects brands that already perform well in niche segments, then grows them using its shared marketing team, e-commerce expertise, and retail network. This model allows Goodai to grow fast without diluting brand identity.
The Road Ahead: Global Reach and Innovation
With the latest funding and new brands in place, Goodai plans to go global. The company will target North America and Southeast Asia, two regions with high demand for Korean beauty products.
It also wants to explore offline retail channels, such as brand stores and pop-up experiences. This will help it engage directly with consumers and build stronger brand recall.
In addition, Goodai aims to invest in R&D and AI tools. The goal is to create personalized skincare solutions, enhance product testing, and stay ahead of shifting beauty trends.
These plans show that Goodai isn’t just buying brands. It is building a future-ready beauty platform.
Industry Impact and Long-Term Potential
Goodai’s aggressive acquisition model could change the way indie beauty brands scale in Asia. If successful, it might set a new template—especially for companies looking to grow beyond the Korean market.
The PE firms investing in Goodai see long-term value in this approach. They believe that consumers want brands with authenticity, but also need companies that can innovate, produce, and distribute at scale.
By acting as a central hub for such brands, Goodai fills a key gap in the market.
Conclusion
Goodai Global Inc. is no longer just a young beauty company. With ₩800 billion in fresh capital, it is now a major player ready to shake up the beauty world. Backed by top private equity and VC firms, and fueled by a clear strategy, Goodai is building a modern L’Oréal for the digital era.
As the company adds Round Lab and Skinfood to its growing lineup, it positions itself as a leading force in K-beauty—one that understands both heritage and trend, and turns both into global opportunity.
If it keeps executing with speed and precision, Goodai could soon become Asia’s most influential beauty empire.
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