Hyundai Home Shopping and Amore Choose Dimil... 'No.1 High-Growth Beauty Company in Asia-Pacific'

FT Selected '2022 Asia Pacific Region Top 500 High-Growth Companies' Beauty Sector No.1

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

[Asia Economy Reporter Kwak Min-jae] Beauty-specialized MCN (Multi-Channel Network) Dimil has become the first domestic company to rank first in the beauty category among the ‘2022 Asia Pacific High-Growth 500 Companies’ selected by the Financial Times (FT).

According to Dimil on the 18th, the company ranked 59th among the Asia-Pacific high-growth 500 companies with a total sales growth rate of 924% and an average annual growth rate of 117%. In November last year, monthly sales exceeded 2 billion KRW, and the sales scale grew more than fivefold in about two years, achieving high growth. At the same time, the operating profit margin improved, successfully catching two rabbits with one shot. Furthermore, being selected as a high-growth company in the Asia-Pacific region, the company explained that it has been recognized for its high potential overseas as well.

Previously, in 2020, Dimil received a Series A investment worth 15 billion KRW from Hyundai Home Shopping and Amorepacific Group. Since then, it has consecutively acquired brands such as ‘Body Burden Project’ and ‘MP Pharma’. In October last year, it launched the beauty vertical commerce platform ‘Millions’ application in collaboration with Microsoft, highlighting the strength of its commerce capabilities based on the MCN business.

The Asia-Pacific High-Growth 500 Companies ranking is conducted and announced by FT and the global research firm Statista, surveying 500 companies with high sales growth rates among companies in 13 Asia-Pacific countries. In Korea, Market Kurly, Watcha, Wadiz, RSquare, Dable, Lotoc, I’m Web, and Treasure Hunter have been selected.

Dimil, First Domestic Beauty Sector No.1 Selected Among Asia-Pacific High-Growth 500 Companies [Photo by Dimil]

The announced ranking this time was based on the average annual growth rate from 2017 to 2020 among companies with sales of at least $100,000 in 2017 and $1,000,000 in 2020. This ranking started in 2018, and this year marks the fourth announcement. According to the industry, about 15,000 companies across the Asia-Pacific region applied for evaluation.

Hyunju Lee, CEO of Dimil, said, “It is an honor to be recognized as one of the fastest-growing companies in the Asia-Pacific region through a globally credible media outlet and to be the first domestic company to rank first in the beauty category. We will continue to strengthen our core competencies through strategic synergy with investors and strive to lead the industry by driving the digital transformation of the beauty market.”

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