MimiBox, a leader in K-beauty, has selected Samsung Securities as the lead underwriter for its listing, officially launching its initial public offering (IPO). Through the IPO, MimiBox is preparing to leap forward as a global comprehensive beauty company.
Founded in 2012, MimiBox is a K-beauty specialist. By delivering curated beauty products monthly to customers’ homes through subscription and mobile commerce, it has datafied diverse customer demands and preferences. MimiBox has grown into a consumer goods company operating five beauty brands, including makeup brands 'I'm Mimi,' 'Pony Effect,' and 'Kaja,' as well as skincare brands 'Nooni' and 'IDU Care.' These brands are highly popular on TikTok and social media for their vegan ingredients, high-performance products, unique formulations and designs, and easy, convenient usage, boasting strong recognition especially among customers in their teens to thirties.
Approximately 90% of MimiBox’s sales are generated overseas, with North America accounting for nearly 50%. Since establishing a branch in January 2014, MimiBox has operated an independent team. Through consistent investment over 10 years, it has successfully entered various large offline distribution channels as well as online platforms. On Amazon US, Nooni’s ‘Lip Oil’ and IDU Care’s dry shampoo ‘Tap Secret’ consistently maintain the number one spot in their categories. Starting with ‘Kaja,’ launched in collaboration with Sephora US in 2018, MimiBox has introduced brands exclusively for the US market such as ‘IDU Care.’
With four subsidiaries in Korea, the US, China, and Taiwan, MimiBox generates sales from overseas markets. The company has attracted over $200 million in investment from leading Silicon Valley venture investors. Recently, through a strategic partnership with Silicon Two, MimiBox is executing plans to further expand its global sales base.
CEO Ha Hyung-seok leads the K-beauty industry with diverse experience and insights in engineering, fashion, beauty, and e-commerce. Since starting the business, he has been promoting Korea’s technological prowess and beauty sense to the world.
CEO Ha stated, "Based on a successful listing in collaboration with Samsung Securities, we will return profits earned overseas to the domestic market. We plan not only to contribute to the development of the Korean cosmetics industry but also to secure the foundation for becoming a world-leading comprehensive beauty company representing Korea."
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