이 기사는 2021년 12월 01일 08:10 thebell 에 표출된 기사입니다.

South Korea’s Bmonument, an operator of cosmetics brand d'Alba, is seeking to raise funds from external investors, as it aims to strengthen its presence in the market.

Bmonument is sounding out financial investors to raise between 10 billion won ($8.4 million) and 20 billion won, industry source said on Monday. The company is currently conducting marketing campaigns.

Bmonument launched d'Alba in 2016 by establishing a joint venture with B&B Korea and China’s Lafang Group.

The Korean cosmetics company entered the Taiwanese, Macao, and Hong Kong markets as it signed an exclusive distributor contract with Lapang Group. A number of d’Alba products completed registration with the U.S. Food and Drug Administration (FDA) and registration of over-the-counter (OTC) products and obtained hygiene license in China. The company’s cumulative exports exceeded $3 million in 2019, as it expands exports to 20 countries, including the U.S. and Singapore.

D’Alba raised awareness in the market through celebrity advertisement, selling more than seven million bottles of mist serum so far. The company has secured a wide range of distribution channels, including department stores, Korea’s top beauty store chain Olive Young and Chicor.

It is also stepping up efforts to collaborate with domestic cosmetics companies, including B&B Korea.

Bmonument plans to use the proceeds for marketing and research and development activities to enhance its competitiveness amid intensifying competition in the cosmetics market.

Bmonument is reportedly seeking a valuation of around 50 billion won in the latest funding round. It raised 2 billion won from KTB Network in a Series B funding round in 2019. The company has raised 3 billion won in total, including 1 billion won in a Series A funding round.

The company’s revenue has also grown from 500 million won in 2017 to 47.6 billion won in 2020 and swung to an operating profit of 1.1 billon won during the same period.

Korea Tech, which operates the country’s skincare brand Kahi, also has started a process to raise funds by hiring KR& Partners as its manager. (Reporting by Seon-young Kim)