Una Brands teams up with KlickBrands to enter South Korea’s e-commerce market
Summary
The two companies plan to acquire at least 25 profitable brands with annual revenue of between $1million and $50 million in health, cosmetics, baby, pets, home and living for the next two years, according to Tanna.The e-commerce market of South Korea is expected to increase up to $250 billion by 2025. Una said that South Korea, the fifth-largest e-commerce market globally, is considered a key market for Una Brands.When Una Brands approached us, we immediately recognized that their capabilities were a great match for our own, particularly with the strong team that has built, their expertise in e-commerce in APAC, and their global distribution network, said co-founder and chief executive officer of KlickBrands, Brian Hyun. In addition, South Koreas internet giant Naver invested in e-commerce aggregator New Vessel last month.Una, which has acquired more than 20 brands to date, aims to expand its global presence. Una raised $55 million in equity and debt funding last year.Of all the local e-commerce aggregators, we chose KilckBrands as our strategic partner because of our shared vision, mission and value, Tanna said. This will make KlickBrands an instrumental partner in strengthening Una Brands presence in, and understanding of, the South Korean e-commerce space.