Recently, Goodai Global, a fast-rising force in Korea’s beauty M&A market, is moving to sell color cosmetics brand LAKA just one year after acquiring it. The company, which has been on an aggressive acquisition streak with brands such as Round Lab and Skin Food, confirmed that it has initiated the sale of its management equity in LAKA Cosmetics, aiming to finalize the deal by the end of this month.
According to industry sources, the founder of Tirtir is emerging as a potential buyer, with the sale price reportedly set at around 53 billion won. Goodai Global had originally acquired about 88% of LAKA’s management equity from its founder for 42.5 billion won in June 2024, meaning the company could generate a profit of nearly 10 billion won from the divestment.
The move signals a possible restructuring of Goodai Global’s portfolio. While brands like Tirtir and SKIN1004—both acquired after Beauty of Joseon in 2019—have shown robust growth, LAKA’s performance has fallen short of expectations. During a recent 800 billion won funding round, investors were reportedly informed that LAKA’s growth potential had not materialized, prompting the decision to exit.
A representative for Goodai Global acknowledged the sale process, stating, “We thought LAKA had sufficient brand power for acquisition, but we concluded that it did not reach the level we expected.” The sale underscores the company’s strategy of pruning underperforming assets while continuing to expand its influence in the K-beauty sector.
