MCN 'Rising Star' Pushes Forward... 5x Revenue Growth in Just 2 Years Since Establishment

Dimil building located in Sinsa-dong, Gangnam-gu, Seoul.
[Photo by Dimil]

[Asia Economy Reporter Lee Junhyung] Beauty-specialized MCN (Multi-Channel Network) Dimil recorded its highest performance since its establishment last month.

According to Dimil on the 25th, the company's monthly sales last month surpassed 2 billion KRW. This is more than five times the scale since the corporation was established in 2019, marking the highest performance ever. The industry evaluates this as the largest sales among domestic beauty MCNs. This year's sales are expected to reach around 20 billion KRW. The operating profit margin also improved, meaning the company has effectively caught two rabbits with one shot, according to the company.

Dimil's existing MCN business division's strong performance led to the improvement in results. The beauty-specialized e-commerce platform 'Millions,' launched in collaboration with Microsoft and others in October this year, and private brand (PB) cosmetics from creators affiliated with Dimil also influenced last month's sales.

The company continued its sell-out streak at recent cosmetics sales events. The 'Beauty Expert Select Shop' category within the Millions application (app) is a representative example. The Beauty Expert Select Shop is a category where creators affiliated with Dimil directly select and sell products suitable for each skin type based on data. Previously, the Beauty Expert Select Shop, conducted 27 times by Dimil, achieved the result of selling out all inventory each time.

The eye makeup brand 'Novev' and perfume brand 'Awls & Mood,' recently launched by the company, sold out all prepared quantities on the launch day. The second and third batches prepared due to continuous restock inquiries were also sold out.

The performance improvement of the company acquired by Dimil was also remarkable. MP Pharma, acquired by the company in April this year, achieved a 300% sales growth rate in about six months. MP Pharma is a startup operating the lifestyle medical device brand 'Cobim' and others.

It is analyzed that the synergy effect of Dimil, which has the largest domestic distributors and manufacturers as strategic investors (SI), is accelerating. Dimil attracted a Series A investment worth 15 billion KRW from Hyundai Home Shopping and Amorepacific Group at the end of last year. It continued collaboration with investors, such as jointly developing the private cosmetics brand 'Body Burden Project (BBP)' with Hyundai Home Shopping.

Lee Heonju, CEO of Dimil, said, "Thanks to active collaboration with exclusive creators and brands, we were able to achieve the largest sales scale in the beauty MCN industry," adding, "We plan to strengthen core competencies in the MCN business in the future and expect growth in the commerce sector."

This content was produced with the assistance of AI translation services.