LYCL Inc. (UNPA)
Develops private brand products and operates one of the largest cosmetics social media platform.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
$5.0m | Series B | ||
| Total Funding | 000k | ||
| USD | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 279 % | - | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Established in 2013, LYCL Inc. is a South Korean skincare and technology company that operates a multi-faceted business model. The company was founded by CEO Jeon Ji-hoon, who, after a stint at Hyundai Card and co-founding a fashion startup, identified a growth opportunity in the beauty sector. He and his co-founders started LYCL with the idea of mobilizing online communities, eventually focusing on beauty after testing various concepts.
LYCL's ecosystem is built on three core pillars. The first is "Unpa Community" (formerly Unni's Pouch or unpa.me), one of Korea's largest social beauty platforms where users share reviews and tips on cosmetic products. The second is "palett.me," an influencer network platform. The third, and a direct result of the others, is the company's own skincare brand, "unpa.Cosmetics." This brand leverages big data and insights gathered from its community of over 1.2 million consumers to inform a data-driven product development process. This strategy allows LYCL to identify and address consumer frustrations with existing products, leading to the creation of items like the popular charcoal-based "Cha Cha Toothpaste," which was developed based on community discussions. Revenue is generated primarily through a direct-to-consumer (DTC) model for its cosmetic products sold via its website, supplemented by online advertising on its community platform.
The company has secured strategic partnerships and investments that underscore its potential. LYCL was part of the inaugural class of the NIVEA Accelerator in Korea, a program run by German skincare group Beiersdorf (the parent company of Nivea, Eucerin, and La Prairie). This relationship deepened in December 2019 when Beiersdorf acquired a significant stake, becoming the second-largest shareholder. Beiersdorf followed on with a $5 million investment in a Series B round in September 2020. LYCL has also received investment from Lotte Group, a major Korean retail conglomerate, to enhance its distribution channels.
Keywords: K-beauty, skincare technology, community-driven brands, data-driven product development, direct-to-consumer cosmetics, Unpa Community, unpa.Cosmetics, Jeon Ji-hoon, Beiersdorf ventures, Lotte Group, beauty platform, social commerce, influencer marketing, beauty big data, Korean cosmetics, Unni's Pouch, palett.me, Cha Cha Toothpaste, Asian beauty market, skincare innovation