Kakao’s K Group Ventures acquires beauty solution provider Hasys
October 14, 2015

케이벤처그룹_CI

K Venture Group, a specialist investment branch of Kakao has acquired a majority (51%) stake in top beauty solution company 'Hasys'.  Hasys is the developer and service provider of client management solutions for salons, facial salons, and nail shops. Their beauty client management solutions 'HairJjang' and 'Beauty Jjang' as at September 2015 maintain more than 9,600 clients. This represents 69% of the market for beauty company client management solutions.

On the topic of key investment decision, Park Ji Hwan form K Venture Groups said, "We saw high potential for growth due to Hasys' market leading position, secure revenue generating ability, and wide array of offline networks". In addition, "For Kakao's various planned offline linking businesses, the know how from Hasys will bring competitiveness and provide synergy".

Following the transfer of Hasys as a subsidiary, K Venture Group has provided management support whilst allowing the company to operate autonomously and independently.

Hwang Kyoung Ho from Hasys said, "The opportunity created through K Venture Group's acquisition will allow an increase competitiveness provided to members". "Large improvements will be in customer convenience, service to beauty shops and management environment".

The beauty market in Korea is estimated to be US$6 billion (KRW 7 trillion) in size. Through Kakao Taxi, K Group Ventures plans to expand by taking charge of O2O linking of Hasys businesses.  The company plans a launch early next year of beauty business appointment services.

For Kakao, the purpose of starting K Group Ventures last January with US$85m (KRW 100 billion)  was to look for future growth opportunities for Kakao as well as search for mobile platforms that increase global competitiveness for the company. Acquisition through K Group Ventures began last May with the purchase of digital second hand market platform 'Sell It'. The other acquisitions include UX design  company 'Tangram Design Research', car repair service 'Car Doc', and game publishing platform 'Engine'. Now with Hasys added, the acquisitions have occurred quickly in a broad range of different markets.

* Please check out more about new tech products from Korea at "beginning" system.

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