GP Club may include ecommerce firms in peer group Cosmetic company plans to go public within this year
Translated by Kim So-in 공개 2021-05-07 08:10:27
이 기사는 2021년 05월 07일 08:02 thebell 에 표출된 기사입니다.
GP Club, which operates the beauty brand JM Solution, is considering including ecommerce companies in its peer group for its planned initial public offering (IPO).GP Club is reviewing an option to form its peer group with ecommerce companies before calculating its valuation, industry sources said on Tuesday. “Many industry watchers said GP Club will calculate its value based on ecommerce companies’ valuation for its listing,” an industry source said. “Its target valuation is at least 1.8 trillion won ($1.6 billion).”
GP Club submitted its audited financial report for 2020 last month and aims to apply for a preliminary review next month to go public within this year. The company is expected to set its IPO price band and structure after setting its peer group. “We are reviewing a variety of peer companies including ecommerce and cosmetics companies,” said an official at GP Club, adding, “It hasn’t been decided yet.”
Founded in 2003, GP Club transformed itself from a game distributor into a cosmetics company by launching its beauty brand JM Solution in 2016. It has sold a variety of skincare products in partnership with the nation’s leading original equipment manufacturing companies. It also launched lifestyle brand Gangbly Life in 2018.
The big success of its facial masks in the Chinese e-commerce market has driven its dramatic growth. GP Club recorded revenue of over 500 billion won ($442 million) and an operating income of more than 200 billion won in 2018, three years after the launch of JM Solution.
The company raised 75 billion won from Goldman Sachs in October 2018 at a valuation of $1.32 billion in a deal that made the cosmetics company the ninth unicorn – a startup valued at more than $1 billion – in South Korea.
However, its revenue declined from 468.6 billion won in 2019 to 404.4 billion won in 2020, and operating income fell from 122.7 billion won to 97.5 billion won. Net income declined from 96.2 billion won to 67.5 billion won.
“We are strengthening our online business after the outbreak of the Covid-19 last year,” said the official. “The online business now accounts for 20% of the total revenue.” (Reporting by Su-jeong Kim)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 경남제약 품는 휴마시스, 유통네트워크·진단키트 '시너지'
- [Company Watch]글로벌텍스프리, 프랑스 자회사 '적자 전환'
- [Red & Blue]'주목도 높아지는 폐배터리' 새빗켐, 침묵 깨고 반등
- [HLB '리보세라닙' 미국 진출기]시장 우려 불식 나선 진양곤, 갑자기 마련된 기자회견
- 효성화학 특수가스 사업부, '경영권 지분 매각'으로 선회
- 한양, 만기도래 회사채 '사모채'로 차환한다
- 동인기연, 'GS 출신' 30년 베테랑 전호철 상무 영입 '성장 방점'
- 에스트래픽, 적자 '일시적 현상'... 2분기 수익개선 기대
- [Company Watch]'자회사 회생신청' 투비소프트, 성과 없는 신사업
- '크라우드 펀딩' 와디즈, '테슬라 요건' 상장 추진