THE WHAT? Blackstone has agreed to accumulate a majority stake in premium South Korean hair care enterprise Juno, partnering with founder and CEO Yun-Seon Kang to speed up progress and worldwide enlargement.
THE DETAILS Whereas monetary phrases weren’t formally disclosed, sources near the matter counsel the deal values Juno at roughly 800 billion gained (US$575 million). Based in 1982, Juno operates greater than 180 salons throughout South Korea and has expanded into Singapore, Vietnam, and the Philippines, with partnerships in Japan and Thailand. Below the settlement, Kang will stay as CEO, supported by Blackstone’s international platform and funding experience. This marks Blackstone’s fourth non-public fairness funding in South Korea, underscoring its dedication to partnering with family-founded and entrepreneur-led companies in Asia’s fast-growing shopper sector.
THE WHY? The deal displays the rising attraction of Ok-beauty and hair care providers to international buyers, with Blackstone citing “explosive international demand” for Korean magnificence and wellness experiences. For Juno, the funding supplies each scale and capital to strengthen its home management and advance its regional and international ambitions. For Blackstone, it represents a strategic guess on the continued cultural export of South Korea’s magnificence and private care business.
Supply: Bloomberg
