'Plastic sunglasses, star vision, 135.7 billion won investment ...
Starvision, a company specialized in star marketing such as 'Hanilensen' and 'Suzy Sunglasses', specialized in beauty content lens and fashion sunglasses, succeeded in attracting investment.
VIG Partners, an investment specialist company, announced on June 4 that it has entered into an agreement with Starvision to invest about KRW137.5 billion.
According to VIG Partners, the investment of 104.5 billion will be used to acquire 41.8 percent of the 100 percent stake held by the founder, Park Sang-jin. The remaining 33 billion is spent to acquire the company's convertible preferred stock.
STAR VISION was established when Mr. Sang-jin Park converted his personal business "Doctor Eye," which had been operating since 2007, into a corporation in 2012. Beginning business in earnest growth by opening the first store of beauty contact lens special franchise o-lens (O-LENS) in 2010 to engage in business to sell beauty contact lens online at the beginning of the business.
In 2014, the company expanded its business by launching the fashion sunglasses brand CARIN, a Scandinavian emotional design. In recent years, we have been focusing on European countries such as Germany, Italy, Greece, the Netherlands, and Sweden, and are planning for growth in the global market in the future.
In particular, after Celebrity Suzy (the famous distributor) has been used as an advertising model for Karin, it has established a strong position in the rapidly growing fashion sunglasses market, called 'Suzy Sunglasses'. In addition, since the launch of the OLED Lens Group's EXID member, 'Hani (My Name is Anhee Yeon)' in 2015, the lenses that were released by Oh Lens were called 'Honey Lens' and attracted attention.
At present, O-Lens is being sold through 280 franchise stores nationwide (contact lenses are not available for sale online), and Karin is being sold through 390 online stores and online channels including department stores, duty-free shops, and their own stores.
Until now, the two business divisions have concentrated on domestic market growth without going overseas. The company achieved sales of 58.1 billion won and operating profit of 18.2 billion won last year.
Mr. Sang-Jin Park said, "Star Vision is now in the midst of a full-fledged growth through product advancement and global market entry." "While we were looking for a partner to do this process, we met VIG Partners to attract investment.".
Vice Chairman Lee Cheol-min of VIG Partners said, "Starvision has experience in creating new business areas by adding beauty functions to contact lens products that only had vision correction functions, and experience of putting their sunglasses brand in competition with global brands. It is a very unique company, "he added." In reviewing our investment in companies that will lead the next generation of 'K-fashion' and 'K-Beauty,
In the future, the management of the company will lead the existing management team led by Park Sang-jin and the new professional staffs to be appointed by VIG.
Meanwhile, VIG's investment is expected to be completed in early July and is the sixth investment in the VIG No.3 fund, which is worth 700 billion won. This transaction was made by EY Hanyoung Accounting Corporation.