Moadata Signs 9.6 Billion KRW Supply Contract with Premium Pet Brand Cocosquare

Moa Data (CEO Sangjin Han) announced on the 15th that it has signed a contract to supply products worth approximately 9.6 billion KRW over one year for private brand (PB) pet products with GPF Partners INC (CEO Seongdong Ha), owner of the luxury pet brand Cocosquare.

This supply contract follows the PB product supply and strategic partnership agreement between Moa Data and Cocosquare on August 12, marking Moa Data's first major achievement since its full-scale entry into the pet market. Moa Data will supply nine types of PB products worth 9.6 billion KRW over one year, including pet health supplements, food, supplies, skincare, and devices sold at Cocosquare's online and offline stores. This amount corresponds to about 40% of Moa Data's sales last year.

Among the products intensively researched and developed over the past few months, Moa Data will first supply the ‘Cream de Coco Premium Pet Cream’ and ‘Kidney Care de Coco.’ The ‘Cream de Coco Premium Pet Cream’ contains patented ingredients from Moa Life Plus, acquired by Moa Data in March. This product is a premium pet cream developed with γ-PGA (poly-gamma-glutamic acid), an ingredient used by global luxury cosmetics brands. It is the world's first application of γ-PGA in pet cream, formulated as a low-irritant, mildly acidic formula composed only of ingredients safe for pets even if ingested.

Additionally, ‘Kidney Care de Coco’ is manufactured in powder form with activated carbon as the main ingredient. By sprinkling one packet daily over pet food, it inhibits the penetration of harmful substances and uremic toxins into the liver through the small intestine and absorbs uremic toxins in the body to be excreted directly through the intestines. This makes it effective in preventing renal failure and alleviating symptoms of uremia in pets. Furthermore, it contributes to preventing secondary diseases such as osteoporosis, hypertension, and anemia caused by decreased kidney function, making it a health functional food for pets.

Moa Data has also agreed to supply pet shampoos & treatments and pet-exclusive beverages, and plans to accelerate the addition of more products in the future.

Leveraging the health functional food business know-how gained through the acquisition of bio-healthcare specialist Moa Life Plus, Moa Data has officially entered the pet market. By applying AI-based healthcare technology, it plans to expand its business scope to include building Cocosquare’s pet healthcare platform, pet insurance, and funeral services.

Sangjin Han, CEO of Moa Data, emphasized, “This supply contract with Cocosquare is our first major achievement in the pet market, which we have identified as a future cash cow. By combining our unique healthcare technology with Cocosquare’s expertise in pet care, we promise to create new future value in the rapidly growing pet market through continuous new product development and provide differentiated benefits to customers.”

The global pet market was estimated at 440 trillion KRW in 2022. According to Bloomberg Intelligence, it is expected to reach 680 trillion KRW by 2030. According to the Ministry of Agriculture, Food and Rural Affairs, the domestic pet market was estimated at 8.5 trillion KRW in 2022 and is projected to reach 20 trillion KRW by 2032.

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