[Asia Economy Reporter Jang Hyowon] VT GMP is expanding its stake in Cube Entertainment (hereinafter ‘Cube Ent’), a cradle of artists with unique charm, and strengthening responsible management.
According to the Financial Supervisory Service's electronic disclosure system on the 9th, VT GMP (018290), the largest shareholder of Cube Ent, announced that it will strengthen its stake in Cube Ent through on-market purchases. Through this acquisition, the shareholding ratio of Cube Ent's largest shareholder and special related parties is expected to increase from 43.78% to 47.47%.
A company official said, “This additional stake expansion is to strengthen management rights and demonstrate confidence in Cube Ent’s growth potential and commitment to responsible management,” adding, “The collaboration between VT GMP’s main business, cosmetics, and Cube Ent is expected to have a positive effect on the financial status of both companies.”
He also stated, “Following the decision of a free capital increase, we will continue efforts to strengthen responsible management and enhance shareholder value through this largest shareholder stake expansion, and we will do our best to become a company that actively communicates with shareholders and investors.”
Meanwhile, LIGHTSUM, a rookie girl group newly introduced by Cube Ent after three years, has emerged as a global trend idol by achieving remarkable success among girl groups debuting this year, ranking 8th on the US Billboard World Digital Song Sales chart. (G)I-DLE leader Soyeon released her first mini-album ‘Windy,’ dominating overseas charts and showcasing her versatility as an all-rounder artist leading K-pop market trends.
In addition, member Woogie is active as a fixed MC on China’s Running Man and has appeared consecutively on China’s top variety shows, raising expectations for his entry into the Chinese market. Furthermore, with Lim Hyunsik and Yook Sungjae scheduled to be discharged in the second half of this year, anticipation for BTOB’s full-group activities is increasing.
Moreover, the cosmetics business, which has been receiving enthusiastic responses in overseas markets since last year, is expected to continuously expand the offline cosmetics market in Japan through its Japanese branch, VTCUBE JAPAN. Currently, it is stocked in major stores and drugstores such as AEON Mall, Plaza, Loft, Pupulehimawari, and Tomod’s, totaling about 3,500 stores, and is projected to rapidly grow to a target of 6,000 stores by the end of the year.
Additionally, by expanding into new businesses such as video content production using popular webtoon IPs earlier this year, the company has shown record-breaking performance by achieving 44% of 2020 sales in the first quarter alone, raising expectations for the company’s continuous growth.
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