Recently, it was reported that Korean beauty startup Fruitful, which owns the makeup brand Tiptoe, has completed a $1.45 million Pre-A funding round. Participants included Amorepacific Group, Schmidt, and KD&J Partners. Following the investment, the company’s valuation is estimated at around $8 million.
Tiptoe is characterized by its soft pastel tones and girlish aesthetic. The brand officially entered the color cosmetics market in July 2025, debuting with a lip tint collection. Its lip tints and jelly-textured makeup sticks are currently sold at Olive Young, South Korea’s largest beauty retailer, as well as through its official online store.
Fruitful said it will use the new funding to expand its retail footprint—broadening its makeup categories beyond lip products, enhancing product quality and refinement, and entering the Japanese market. The brand plans to launch in major Japanese variety store chains such as Rosemary and Plaza in Q4 2025, while also strengthening its global marketing efforts.
It is worth noting that as K-beauty continues its global rise, a wave of investment is sweeping across South Korea’s beauty sector, with Fruitful being a representative example. The scope of investment is no longer limited to skincare and color cosmetics but has also expanded to hair service platforms.
For instance, earlier this year, LAFIQ Cosmetics, an R&D-focused beauty company, raised 15 billion KRW (approx. $11 million) in a Series B round; BPlant, a beauty startup founded by former TV anchor Kim So-young, secured 7 billion KRW (approx. $5 million) in Series A funding; and LiveX, which offers customized shared workspaces for hairstylists, completed a 6 billion KRW (approx. $4.4 million) Series B round.
According to foreign media citing an executive from a Korean beauty company, “The EV/EBITDA multiple for some mature Korean beauty brands has already approached 20x, and competition for high-quality small and mid-sized brands is intensifying.”
Public data shows that as of the third quarter of 2025, South Korea’s cosmetics exports reached $8.5 billion. At the current growth rate, the country’s annual cosmetics exports are expected to exceed $10 billion for the first time.
