Discovering Promising Startups in the Beauty Sector
Actively Contributing to the Growth of the K-beauty Industry
Amorepacific announced on the 13th that it recommended the Amazon AI solution startup 'ADDIS' to TIPS and was finally selected.
TIPS is a public-private joint startup incubation program by the Ministry of SMEs and Startups. It supports promising startups discovered through investments by operating companies by linking government R&D and commercialization funds. Amorepacific was selected as a new TIPS operator in July last year, and ADDIS is the first startup recommended by Amorepacific as an operator.
ADDIS is a startup specializing in search term optimization and automated advertising operation solutions. It provides brand growth solution services specialized for e-commerce platforms such as Amazon. Through its self-developed algorithm, it possesses technology that can expose client products at the top in real time, and offers increased work efficiency and advertising cost reduction effects through automated ad operations.
ADDIS currently secures domestic beauty brands as its main clients. In the future, it plans to expand its business focusing on K-beauty brands experiencing high growth on Amazon and brands interested in entering the North American market. Amorepacific made an investment last October based on the potential of the solutions provided by ADDIS to maximize sales and improve cost efficiency in the North American region.
As a TIPS operator, Amorepacific plans to actively contribute to the growth of the K-beauty industry by continuously discovering and investing in promising startups in related fields such as beauty brands, bio and digital technologies, and beauty and cosmetic devices.
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