Shinsegae International acquires 100% of AMUSE for KRW 71.3bn

SI Consumer & Retail Color cosmetics brand
Deal value
$49m
Stake
100%
Implied 100%
$49m

Deal value ÷ stake (structure unconfirmed)

Revenue
$25m

2023 별도 · DART-verified

Op. income
$1m

2023 별도 · DART-verified

Multiples
EQV/EBIT 39.6xPSR 1.9x

On implied equity value

DART 20240408000236

Target
AMUSE · Color cosmetics brand
Buyer
Shinsegae International · SI
Seller
SNOW (Naver subsidiary, 77.6%) and other shareholders
Structure
—
Announced
Aug 2, 2024
Closed
Oct 8, 2024
Stage
Closed

Target

AMUSE is a vegan-positioned color cosmetics brand launched in 2018 by Naver subsidiary Snow, best known for its Gelfit Tint. It is reported to have followings in North America, Japan and Southeast Asia, with 2023 revenue of KRW 36.8bn.

Deal rationale

Shinsegae International said the acquisition was a strategy to broaden a cosmetics portfolio centered on luxury and premium brands and to accelerate its global business, calling it an important momentum for global expansion. The company said it would run AMUSE as an independent brand and target KRW 200bn revenue by 2028.

해외 진출기타
Revenue$25m
Operating income$1m
EBITDA—
Net income—

2023 별도 · DART-verified · 20240408000236

Press coverage

  • 딜사이트 (2024-08-02): “2일 금융감독원 전자공시시스템에 따르면 신세계인터내셔날이 뷰티브랜드 ‘어뮤즈’의 지분 100%를 713억원에 인수한다고 밝혔다.”
  • 뉴데일리 (2024-08-02): “어뮤즈 최대 주주는 네이버 자회사 스노우(대표 김창욱)로 77.6%를 보유하고 있으며”
  • 비즈니스워치 (2024-08-05): “신세계인터내셔날은 오는 10월 31일 어뮤즈의 지분 100%(37만3737주)를 총 713억원에 취득키로 했다.”

This is a data entry summarising filings and press reports. Please check the original sources for the figures.