South Korean beauty giant Amorepacific has invested KRW3 billion (US$2.7 million) in multi-channel network beauty start-up Different Millions (DMIL).
DMIL specialises in beauty content and has a roster of over 250 different digital and ecommerce content creators.
They includes leading South Korean beauty KOLs Jella, Woorini, Chaeng it beauty, Jeuy, Mellowzeze and Hakonyang.
DMIL’s bespoke beauty campaigns have reached over 500 million views across 500 local and international beauty brands.
The company also runs its own ecommerce platform dVine and in-house beauty brand Hours.
“Amorepacific Group will build a close partnership in the field of beauty influencer contents and commerce,” said Amorepacific Group Head of NGI Division Lee Youngjin. “We look forward to working with DMIL in creating specialised in beauty content, among all multi-channel network companies, which will have the synergic effect of enhancing our digital marketing capabilities.”
DMIL Chief Executive Officer Lee Heonjoo added, “The combination of one-person media and commerce in the beauty industry is creating new opportunities. This investment will serve as a strong footing on which DMIL will become a vertical media group where our brands meet contents commerce.”
FOOTNOTE: In related news, the Moodie Davitt Virtual Expo Company and leading B2B beauty title BW Confidential have progressed exciting plans to unveil Beauty Tech Live — a pioneering virtual event that will showcase the joint worlds of beauty and technology — on 12-16 April, 2021 (note new dates).
The trade event is the first virtual expo of its kind in the sector, bringing together the latest tech innovations and solutions across all stakeholders in the beauty industry. As with the hugely successful Moodie Davitt Virtual Travel Retail Expo held in October, Beauty Tech Live will also feature a one-month follow-up showcase.
Beauty Tech Live contacts
Oonagh Phillips: Ophillips@bwconfidential.com
Martin Moodie: Martin@MoodieDavittReport.com
