SKS Capital, a leading venture capital and private equity firm, has made a strategic $5 million Series B investment in Grace, the biggest aggregator of international Health and Beauty brands in South Korea.
This deal is part of SKS Capital's continuous strategic investment in the beauty and personal care sector. With the investment, the venture company is poised to cop a slice of the Asia-Pacific beauty market that is expected to experience a compound annual growth rate (CAGR) of 8.2% from 2020 to 2027, according to Grand View Research.
SKS Capital's $5 million lead investment also provides Grace with the necessary resource for business expansion and unlocking growth opportunities and connections in the South East Asia region.
It will leverage the capital and resources provided by the partnership with SKS Capital which has a strong presence in the beauty ecosystem, including supply chain, logistics, distributors, licensees, e-commerce, retailers, and connections with celebrities to scale its business.
Grace is the largest supplier of Olive Young, Korea's largest health and beauty retailer with an extensive distribution network of over 50,000+ offline points of sales in Korea. The company exports Korean brands to over 60 countries via B2B and D2C channels and has grown to be popular among Asian consumers.