B2LiNK, a leading consumer brand aggregator and Korean Beauty (K-Beauty) brands B2B distribution company, is a significant global player focused on the K-Beauty market. With the aim to vast its worldwide network and endorse K-Beauty brands, B2LiNK Corporation acquired Picky Inc., the digital skincare community app embraced by K-beauty enthusiasts worldwide.
The acquisition enables B2LiNK to bolster its leadership position and a global lineup of beauty brands and helps Picky to leverage B2LiNK’s network and resources further to expand its solid community base and global reach. Both companies have entered into a formal agreement with an anticipated close by the end of January 2022.
Founded in 2014, Seoul-based B2LiNK partners with more than 150 Korean cosmetics brands and 80+ online and offline distribution channels worldwide. B2Link has grown their portfolio into seven brands and have surpassed $30M ARR in 2021. Its brand business has recorded more than 300 percent growth for the past two years, with 90 percent of its revenue outside South Korea. Its flagship brand, <Skin1004>, is expected to wrap up a successful 2021 with $25M revenue and $4M profit. Picky is a mobile-first community that enables consumers to discover the best skincare and beauty brands and products that are right for them through extensive user reviews, educational content, and experts’ contributions. Picky’s product is cross-platform: iOS, Android, and web.
Plans to make K-Beauty accessible to all
“K-beauty is a global phenomenon. There is a seemingly endless pool of unique indie brands relevant for global beauty consumers, and we have access to established distribution channels to meet the demand for K-Beauty products everywhere,” said Nate Sohyung Lee, B2Link’s co-founder and CEO. “We’re helping K-Beauty products become much more accessible in more markets through our deep experience in the retail business and world-class global marketing team. With the Picky acquisition, we’ve strengthened our team and firmly established our No. 1 market position in Korea.”
As part of the acquisition, Picky founder and CEO Jihong Lee will join B2LiNK as Chief Marketing Officer and board member, leveraging his career experience that spans international roles with Google and Supercell.
“In what has been a challenging time for startups worldwide, we’re proud to have gained an avid following of hundreds of thousands of regular users in our skincare community,” said Jihong Lee. “Our team set our sights on the global marketplace on day one, and the opportunity to keep that momentum going with the resources behind B2LiNK is the perfect match.”
Through this acquisition, Picky aims to build on its strong community base of more than 250,000 global users and growth throughout 2021. Its web and mobile app-based community have established itself as a top “every day” app for skincare enthusiasts worldwide, including those passionate about K-Beauty products. B2LiNK sees the synergy with Picky’s offerings as one that helps source up-and-coming brands looking to generate interest with skincare enthusiasts in the space, leveraging Picky’s proprietary data powered by its community.
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