Human Wellness Group Accelerates Synergy with Wingsfoot Acquisition: "Strengthening Platform Through Distribution Integration"

Human Wellness Group is set to accelerate synergy creation by acquiring the listed company Wingsfoot and integrating its distribution capabilities with its existing plastic surgery and beauty business.

According to the investment banking (IB) industry on July 23, Human Wellness Group recently became the largest shareholder of Wingsfoot by purchasing a 34.01% stake for approximately 20 billion KRW. The transaction included joint participation from the group’s affiliates, with Incredible Buzz investing 5.7 billion KRW and Motiva Korea investing 5 billion KRW, respectively.

In response to concerns raised by some about the burden of acquisition funding, Human Wellness Group stated, “Most of the funds were secured through our own cash holdings and some external investments. As of now, there are no plans to issue convertible bonds (CB) or bonds with warrants (BW). We are prioritizing financial soundness in our business expansion and are avoiding management practices that rely on debt financing, as was done in the past.”

The company plans to maximize synergy by combining the execution capabilities proven through Motiva’s success with Wingsfoot’s distribution expertise. Wingsfoot is said to be well-suited to enhance the distribution competitiveness of other affiliates within the group, as it possesses manufacturing and distribution capabilities based on a stable profit structure. The goal is to expand beyond a single footwear category into a platform that encompasses both plastic surgery and beauty.

Human Wellness Group also expressed a firm commitment to improvement regarding Incredible Buzz’s past record of inaccurate disclosures. The company explained that these issues occurred under previous management and that the internal disclosure system has now been completely overhauled and strengthened.

Shin-Young Lim, CEO of Human Wellness Group, which leads companies like Incredible Buzz and Motiva Korea, is a well-known figure in the plastic surgery and beauty industry. In 2013, Lim signed the first-ever licensing agreement with Motiva in Asia and played a key role in establishing Motiva as a leading brand in the then-nascent breast implant market. Motiva currently holds a 65% market share in Korea.

CEO Lim stated, “The core was to resolve information asymmetry for consumers and create a structure that respects consumer choice through accurate information delivery. Based on this experience, we will establish our next flagship product, ‘Sunekos,’ as a recurring revenue model in the biostimulator market and quickly expand into the Asian and U.S. markets.”

Lim added, “Human Wellness Group is reborn as a company with a completely different level of credibility and execution than before. Through the acquisition of Wingsfoot, we will prove the revaluation of the group’s overall value with tangible results.”

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