BM Smile
Vertically integrated global lifestyle and pet care platform.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
* | KRW28.0b Valuation: KRW280.0b | Late VC | |
| Total Funding | 000k | ||
BM Smile, founded in 2018 by CEO Park Bong-soo, is a global lifestyle platform company with a core focus on the pet care industry. The company has established a vertically integrated system that encompasses research, manufacturing, product planning, branding, marketing, distribution, and IoT services. This structure provides a significant competitive advantage in the pet market.
The company operates several key brands, including 'Pethroom', a premium pet supply brand, 'Wiggle Wiggle', a design and IP-focused brand, and 'Bready Post'. BM Smile has expanded its operations globally, with a presence in 11 countries and plans for further expansion. A significant milestone was achieved in October 2023 when SK Networks invested 28 billion KRW, valuing the company at approximately 280 billion KRW, the highest for a domestic pet company at the time. This investment aims to bolster the company's offline and global business strategies, leveraging synergies with SK's affiliates like SK Magic and Walkerhill.
The company's business model is centered on creating and nurturing its own brands and intellectual property, then scaling them through its integrated value chain and global distribution network. It also engages in strategic acquisitions and joint ventures, such as the acquisition of Artshare Co., Ltd., and the establishment of BMSTAGE with a Kakao affiliate, to diversify its portfolio. BM Smile's core philosophy is 'Business Makes the Earth Smile,' reflecting a commitment to social responsibility. The company donates 7% of its annual profits to environmental and social causes, particularly focusing on animal welfare through initiatives like supporting animal shelters and promoting adoption campaigns.
Keywords: pet care platform, vertical integration, global lifestyle brand, pet supplies, Pethroom, Wiggle Wiggle, consumer products, IP licensing, e-commerce, social responsibility, animal welfare, SK Networks investment, Korean startup, Park Bong-soo, pet tech, direct-to-consumer, brand incubation, global expansion, pet industry, design IP
