Korean Beauty Brand 'The Blessed Moon' Secures Series A Funding
Company value reaches 22.5 billion won, growing over 3 times and strengthening its position in the global market The Blessed Moon (CEO Moon Eun-bin), a Korean beauty brand, announced on February 14 2024, that it has successfully secured Series A funding, raising a total of 2.5 billion won and achieving a company valuation of 22.5 billion won, marking more than triple growth in just a year and a half. Three investment firms participated in this round: Korea Investment Partners, Seoul Investment Partners, and Dongmoon Partners. Previously, in December 2022, The Blessed Moon secured initial funding of 1 billion won in a pre-Series A round, with a company valuation of 6 billion won. Since then, the brand has rapidly increased its value based on continuous growth and successful performance in the global market. Differentiated Strategy and Global Influence The Blessed Moon has taken a distinctive approach compared to typical K-beauty brands. As a total beauty brand encompassing both color cosmetics and skincare, it has garnered significant attention in global markets including North America and Europe. The brand has established a strong digital content-based presence, amassing 670,000 followers on Instagram and 920,000 on TikTok. The brand's uniqueness is also evident in its social responsibility initiatives, which form a core part of its identity. For instance, The Blessed Moon began philanthropic activities even before generating revenue, establishing schools in countries like India, Malawi, and Rwanda. While initially causing concern among investors, these efforts ultimately became a factor in attracting global interest, leading to exclusive contracts with major European countries including Spain, Germany, Italy, and France Focus on Sustainable Structure Rather Than Rapid Expansion The funds secured from this investment will be used for organizational reinforcement and structuring, rather than typical marketing or production costs. As part of this effort, The Blessed Moon has relocated its headquarters to a standalone office in Yeoksam and strengthened its executive team, including the recruitment of former Extreme CMO Park Se-hwan and professional manager Kim Sun-jung as CFO, focusing on building a systematic structure. CEO Moon Eun-bin stated, "While rapid expansion is important, we determined that strengthening our internal structure was necessary for sustainable growth. This investment was not just about growth, but a preparation process to continue our explosive success". Achievements in Domestic and International Markets The Blessed Moon is expanding its presence in the global beauty market, simultaneously exporting to over 20 countries including Japan, Southeast Asia, Europe, and the Americas. Notably, during its entry into the Japanese market last year, the brand achieved remarkable success with placement in over 4,000 stores and dominating the Scramble Egg billboard. In the domestic market, The Blessed Moon recently attracted significant attention through its pop-up store at Lotte World Tower, reaching an average of 150,000 to 250,000 customers daily. Over the approximately five-month pop-up period, the brand successfully expanded its contact with domestic fans, recording 25 million visitors 최지원 기자secures funding beauty brands korean beauty brands uniqueness
