Xplus, a company specializing in mobile accessories led by CEO Yoon Sangcheol, announced on July 10 that it has successfully completed a third-party allocation capital increase worth 5 billion KRW, securing funds to accelerate the expansion of its B2C business. This fundraising marks a key step in Xplus’s mid- to long-term strategy to shift its business model from a B2B focus to a consumer goods-centered B2C structure, following the acquisition of Purple Corporation.
Xplus plans to invest a total of 10 billion KRW in new business initiatives, including the proceeds from this capital increase. The company also stated that it intends to secure an additional 10 billion KRW in new funds for business investment by the end of this year through the sale of its headquarters building and an additional capital increase of 5 billion KRW.
The company recently made Purple Corporation a wholly owned subsidiary, officially entering the B2C market. In the first half of this year, Xplus completed the setup of its B2C business organization by establishing dedicated teams for marketing strategy, product planning, and global sourcing through internal restructuring. Starting in the second half of the year, the company plans to launch full-scale marketing activities aimed at expanding distribution channels and enhancing brand awareness.
A representative from Xplus stated, "We are strengthening our presence in the domestic B2C market while also actively pursuing overseas expansion through global platforms such as Amazon. In particular, we plan to strategically acquire brands with promising consumer goods products, such as cosmetics and health supplements, to diversify our product portfolio and drive export growth through global e-commerce and North American distribution networks."
The company has set a goal of achieving annual sales of over 50 billion KRW in the B2C sector within the next three years and is also considering entering the global distribution business by securing logistics and distribution channels in North America. With this capital increase, Xplus aims to accelerate its transformation into a comprehensive B2C company that integrates IP and consumer goods beyond its existing mobile accessories business, and will continue to invest in and restructure its business for sustainable mid- to long-term growth.
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