POND GROUP announced on the 29th that it will acquire the cosmetics company All Grace for 19 billion won.
POND GROUP will secure 100% equity in All Grace this time. The expected date for stock acquisition is October 31 of this year.
All Grace is a K-beauty comprehensive distribution platform corporation led by CEO Kim Gang-il, the founder of the Beauty of Joseon brand. It also operates its own brand, Celebrate.
All Grace collaborated with City Duty-Free to launch a K-beauty indie brand editing shop in the departure area of Incheon International Airport Terminal 1 last March, and began operating a pop-up store in the duty-free shop of Terminal 2 in May. In addition to the duty-free shop, it has also entered H&B stores, beauty editing shops, and online stores.
POND GROUP aims to expand its share of the cosmetics business to more than 20% of total sales by 2026 through the recently acquired All Grace and its subsidiary, the cosmetics distributor Most.
A representative of POND GROUP noted, "Combining the distribution and financial power of POND GROUP with the K-beauty brand planning and operational know-how accumulated over more than a decade by CEO Kim Gang-il, who created the global mega-hit brand Beauty of Joseon, we will leap to become a global innovation corporation that directly plans and operates all areas of the cosmetics business."