Shinsegae International acquires 100% of AMUSE for KRW 71.3bn
- Deal value
- $49m
- Stake
- 100%
- Implied 100%
- $49m
- Revenue
- $25m
- Op. income
- $1m
- Multiples
- EQV/EBIT 39.6xPSR 1.9x
Deal value ÷ stake (structure unconfirmed)
2023 별도 · DART-verified
2023 별도 · DART-verified
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.
| 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.