DALLAB Global Invests in Fragrance Brand 'Kuoka'... K-Fragrance Market Strategy

DALLAB Global has made a strategic investment in premium fragrance brand Kuoka, expanding into the fragrance market. The company aims to broaden its skincare-focused portfolio into fragrances to respond to the growth potential of the K-Fragrance market. DALLAB Global has decided to acquire 34% equity in Kuoka, investing a total of 146 billion won through a joint venture with Kona Ai Partners and Quantum Trust Partners. This investment positions DALLAB Global to establish a foothold in the K-Fragrance market following its success in the K-Beauty sector. Kuoka, a premium fragrance brand launched in Seoul's Sinsa district in 2019, has built brand recognition through niche fragrances inspired by cuisine, such as 'Wild Peach,' 'Mocha Latte,' and 'Gyokuro Coffee.' The brand now operates stores in Sinsa and Seochon, with international presence in Seoul, Hong Kong, and Taiwan, and plans to enter North American niche fragrance retailers. DALLAB Global highlighted Kuoka's brand competitiveness, global expansion potential, and shared Italian brand identity as investment rationale. Kuoka achieved a 146% CAGR from 2023-2025, with 52 billion won in sales for the first half of 2024, targeting 100 billion won annual revenue. The deal includes provisions for DALLAB Global to potentially increase its stake to 90% within 3-5 years, though Kuoka will remain independently operated.