APR to use beauty devices to take business to the next level
![APR is largely buoyed by a wide range of brands. [APR]](https://koreajoongangdaily.joins.com/data/photo/2023/03/16/9dbe3479-8f3b-4a73-ae87-ec4847032077.jpg)
APR is largely buoyed by a wide range of brands. [APR]
APR, a global beauty tech company, announced its plan to strengthen its business capabilities related to beauty devices while attracting pre-public offering worth 8 billion won ($6.1 million) in recognition of its enterprise value of 700 billion won.
On March 13, APR posted its attraction to the Korea Financial Supervisory Services’ Data Analysis, Retrieval and Transfer System (DART). With its pre-IPO investment, NongHyup-Soo Investment Capital Innovation Growth M&A Investment Association, companies that have continued investment in innovative corporations including SJ Partners and Industrial Bank of Korea (IBK), have participated.
APR holds a number of brands including medicube, AGE-R, Forment, Aprilskin, Nerdy and Glam.D Bio. Among the brands, AGE-R is receiving spotlight for rapid growth since being introduced in 2021. Its beauty devices including AGE-R Derma EMS, AGE-R Ussera, AGE-R Air, and AGE-R Booster-H posted upbeat outcomes with cumulative sales of 700,000 units and sales exceeding 150 billion won in two years after their release.
APR’s positive future business prospects in the global market were likely to be the main reason for the notable success of attracting investment. APR currently sells about 200,000 beauty devices annually in the United States, Japan, China, Hong Kong and Singapore, in addition to Korea. The expected sales number will skyrocket so long as markets in South America and Europe are opened.
The company’s innovative technology development capability is also no doubt increasing APR’s corporate value. By opening its APR Device Center, a research facility specializing in beauty devices, in January and ensuring about 30 patents, APR is steadily developing its innovative technology. It is evaluated that APR has great growth potential considering its R&D technology including research on cosmetic formulas which can create sales synergy with its devices, operation of clinical centers, and development of mobile applications.
APR sets to initiate a strong position in investment and capacity building for beauty devices via newly retained pre-IPO investment. In particular, the company will offer a more stable and innovative provider system for customers by internalizing a vertical process structure throughout the whole process from planning and development to manufacturing and distribution of a beauty device.
“The investment via pre-IPO will lay the groundwork for APR to become a matchless company with the innovation of beauty devices and product supply capabilities,” an official of APR said. “We are pushing to increase its worth by more than a trillion won beyond 700 billion won,” he added.
Furthermore, APR is working to be listed with the aim of taking a preliminary examination in the third quarter while appointing Shinhan Securities as the representative organizer of IPO in November last year.
BY PARK YE-EUN [park.yeeun@joongang.co.kr]
with the Korea JoongAng Daily
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