Moadata, Officially Enters the Pet Market with Luxury Pet Brand CocoSquare

MoaData (CEO Sangjin Han) announced on the 12th that it has signed a contract with GPF Partners INC (CEO Seongdong Ha), which owns the luxury pet brand Cocosquare, for the supply and strategic business partnership of Cocosquare's private brand (PB) products for pets.

After signing the contract, MoaData will supply PB products such as pet health supplements, food, and supplies sold at Cocosquare's online and offline stores.

Cocosquare, established in 2020 by CEO Seongdong Ha, who previously oversaw the Lotte Department Store AvenueL luxury hall project featuring global luxury brands such as Hermes, Chanel, and Louis Vuitton, is a luxury pet brand that has entered the global pet market with the mission of creating a happy society for the 15 million pet owners in Korea as well as pet owners worldwide.

Currently, Cocosquare operates four offline stores and pet park business sites run on a VIP membership basis within Korea's three major department stores and outlet stores?Lotte, Shinsegae, and Hyundai?and plans to open the Tranoi flagship store in Garosu-gil, Sinsa-dong on the 22nd.

In September, Cocosquare plans to open an additional 50 regional centers and 100 directly operated offline supply stores called Cocosquare Lounge, including the Tranoi LCT store in Haeundae, Busan, as well as in Seoul, the metropolitan area, and other major cities nationwide, while also promoting a membership-based online mall business.

Cocosquare provides services such as dog-exclusive spas, fitness centers, playrooms, swimming pools, kindergartens, grooming, and individual room care hotels linked with animal hospitals, as well as premium pet supplies and legally compliant pet-friendly restaurants and cafes under government sandbox regulations. Currently, it has about 60,000 members, including annual subscribers.

MoaData has officially entered the pet market to expand its business area from the existing B2G and B2B markets to the B2C market, based on the know-how of the health functional food business acquired through the acquisition of bio-healthcare specialist MoaLifePlus.

The two companies agreed to apply MoaData’s AI-based healthcare technology to build Cocosquare’s pet healthcare and online platform, expanding the business area beyond pet health supplements, food, and supplies to pet insurance and funeral services in cooperation with leading domestic insurance companies and related enterprises. They also plan to expand Cocosquare’s K-PET syndrome not only domestically but also to the global pet market, thereby strengthening differentiated dominance.

Sangjin Han, CEO of MoaData, emphasized, “Through this contract, by combining our AI-based healthcare technology with Cocosquare’s expertise in pet care and securing the supply rights for PB products, we expect to create new future value in the pet market and provide differentiated benefits to customers.” He added, “Entering the rapidly growing pet market allows us to stably secure additional future growth engines for the company.”