Una Brands commits US$100m into South Korea; allies with KlickBrands

E-COMMERCE roll-up startup Una Brands will be committing US$100 million across 2 years into South Korean brands, partnering with South Korean counterpart KlickBrands.

Una Brands will be using the funds to acquire South Korean e-commerce brands in categories such as K-beauty, baby, pets, and home and living brands. The startup and KlickBrands are on the lookout for 25 or more profitable e-commerce brands with revenues up to US$50 million to scale up.

To date, Singapore-based Una Brands has acquired 20 brands, with some of the brands seeing over 50 per cent increase in sales and profits.

The decision to partner KlickBrands stems from a common vision, mission and values, according to Kiren Tanna, co-founder and chief executive, Una Brands.

"This will make KlickBrands an instrumental partner in strengthening Una Brands' presence in, and understanding of, the South Korean e-commerce landscape. In return, KlickBrands will benefit from our robust operational, technological and acquisition capabilities," said Tanna.

South Korea is the fifth largest e-commerce market globally, with an expected market value of US$250 billion by 2025, and is a key market for Una Brands. Having a local partner will enable the e-commerce roll-up startup to tap into the market.

"We bring to the partnership local e-commerce expertise, as well as the understanding and empathy of local brand owners' mindsets," said Brian Hyun, co-founder and chief executive officer, KlickBrands.

Read more:

• Una Brands acquires Singapore consumer brands ErgoTune and EverDesk
• E-commerce roll-up company Una Brands raises US$15m in Series A funds
• Former CEO of foodpanda, Rocket Internet Asia build e-commerce startup with US$40m seed funding