[Asia Economy Reporter Yujin Cho] Amorepacific Group (CEO Donghyun Bae) announced on the 6th that it has formed a joint venture fund (AP&M Beauty-Fashion Joint Venture Fund) with online fashion commerce company Musinsa to foster promising early-stage companies in the digital expansion of the beauty market and related fields.
The two companies agreed to focus investments not only on beauty and fashion but also on retail, multi-channel networks (MCN), consumer services, and various other areas. Through this investment, Amorepacific Group plans to support and nurture promising early-stage companies domestically and internationally while securing a sustainable growth model.
On this occasion, the two companies will establish a friendly cooperative relationship and carry out joint projects to create synergy. By sharing diverse customer experiences and nurturing new joint brands, they expect to strengthen digital business capabilities targeting the MZ generation (Millennials + Generation Z).
Lee Youngjin, Executive Director of Amorepacific NGI Division, stated, “We hope to create synergy between beauty and fashion through the formation of this joint venture fund,” adding, “We will strive to secure insights into the digital consumption trends of the MZ generation to actively respond to the rapidly changing era.”
Companies wishing to invest in this joint venture fund can apply through the official websites of Amorepacific Ventures and Musinsa Partners.
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