MISS A Nears $1 Billion Valuation With First Outside Funding
Korean-American founders' beauty chain MISS A has secured its first outside investment from VMG Partners at a valuation approaching 1 trillion won, to fuel US expansion.
MISS A, the Dallas-based beauty and lifestyle retailer built by Korean-American founders, has raised its first outside capital at a valuation approaching 1 trillion won. Its operator, Baik Brands, took a strategic minority investment from consumer-focused investor VMG Partners, according to industry reports on November 4.
Co-founders Seung-hwan Baik and Jina Baik will continue to run the company. Until now, the business had grown without any external funding since its founding.
From online store to 100 locations
MISS A started as an online seller in 2013 and opened its first physical store in 2016. It now operates about 100 stores, mostly in major US shopping malls. Each location carries more than 15,000 products, which the company says lets shoppers find something new on every visit. The range spans beauty, skincare, accessories and lifestyle goods, along with private-label products.
The company says it grew through word of mouth rather than traditional advertising. It also says its Paw Paw Wonder Blender makeup sponge won Allure's Best of Beauty award and has been an Amazon bestseller for several years.
K-beauty at the center of the plan
The new funds will go toward opening stores in large US metropolitan areas and key retail districts. MISS A also plans to build up its skincare and beauty categories and in-house brand development while keeping prices competitive. Investment in supply chain, logistics, IT systems and talent is also planned.
K-beauty is a core growth pillar. The company launched the Seoul Scandal K-beauty shop-in-shop last year and plans to release its own skincare line later this year. Seoul Scandal will expand nationwide alongside new stores, and MISS A intends to deepen ties with Korean beauty brands and manufacturers.
The company's targets for 2030 are 550 US stores and annual revenue of $1 billion. "This investment is recognition of what we have built and a new beginning for MISS A," CEO Seung-hwan Baik said, adding that the goal is to become a leading US beauty and lifestyle retail brand, not just to add stores.
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