K-Beauty Firm Gudai Global Taps IPO Banks, Eyes Global Growth
Creatrip Team
6 months ago
Gudai Global has appointed Mirae Asset as lead IPO underwriter with NH Investment, Citi, and Morgan Stanley joining, and is preparing for a public listing with a target valuation near 10 trillion won. CEO Chun Ju-hyeok has pursued aggressive M&A—adding brands like Chosun Minyo, TIRTIR, Round Lab, and SKIN1004—and recently acquired U.S. distributor Hansung USA (한성USA) to secure key retail channels such as Costco and Target. The move completes vertical integration from planning to production to distribution, supporting forecasts of about 1.7 trillion won revenue and operating profit around 700 billion won in 2025. While some critics warned the company was “collecting” brands or preparing for an exit (asset cash-out), analysts see a strategic play to build a Korean equivalent of L’Oréal. Challenges remain, including reducing founder concentration and strengthening corporate governance; Gudai says it is hiring senior executives to improve controls and efficiency.
