AudinFutures Acquires Export Distribution Platform 'Gwanryeong International' with Annual Sales of 150 Billion KRW

[Asia Economy Reporter Jang Hyowon] Neogen brand cosmetics company Audin Futures (CEO Choi Youngwook) announced on the 7th that it has signed a contract to acquire 51% of the shares and management rights of Guanryeong International, a specialized distribution platform company in China and Southeast Asia.

Guanryeong International is a distribution platform company in China and Asia that exports cosmetics and fashion products through Lotte, Shilla Duty Free distribution, overseas B2B, and LIVE broadcasts. According to the company, it achieved sales of 150 billion KRW last year and 135 billion KRW in the first quarter of this year.

Through this acquisition of Guanryeong International, Audin Futures plans to secure new distribution channels in the Chinese and Asian markets, moving away from its previous focus on exports to the US and European markets. The company also explained that there will be various synergy effects in terms of profitability expectations and overseas market expansion.

Choi Youngwook, CEO of Audin Futures, stated, “By acquiring Guanryeong International, we have secured a foothold for stable export channels,” and added, “We can expand our scale and make a leap forward as a leading K-beauty company.”

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