KTB Network specializing in company investments in the global field of cosmetics, fashion and electronics has confirmed an investment deal worth US$2.5m (KRW 3b) into B2Link. This recent investment follows on from DSC Investment totalling US$1 million (KRW 1.3b) in September last year and January this year. The deal is expected should accelerate the developments required to become a global business.
Since starting one year ago, the company has recorded first half year sales of US$3.7m (KRW 4.5b) and has over 70 organizational staff. Inclusive of VIP.com, the company operates ten beauty and fashion eCommerce channels in China from which more than 120 different Korean cosmetics and fashion companies cooperate to provide products.
Lee Jae Ho, the founder of B2Link was also a co-founder of Memebox. B2Link now operates as an eCommerce and logistics channel of cosmetics and fashion products to the markets of China and SE Asia. Through their China market specific mobile service Xinglala, they provide beauty related big data services.
Recently a strategic partnership with SFHT was formed to provide an O2O business service for Chinese consumers visiting Korea. B2Link plans to draw from their successes in China to provide a beauty and fashion eCommerce platform for the broader Asia.
B2Link representative Lee Jae Ho said ‘This year the plans are to register the company in Beijing and to add many new eCommerce platforms. By providing services that customers request, we plan on taking K-beauty to the rest of Asia”.
Hyun Ji Hoon from KTB Network said, “The scale of the Asian beauty market grows each year, particularly in China the demand for Korean products will continue to grow. We expect have high hopes that B2Link will continue to expand further from their already successful start”.