+
 Atomy to fund Rs 250 cr in India by 2025 to set up manufacturing units
ECONOMY & POLICY

Atomy to fund Rs 250 cr in India by 2025 to set up manufacturing units

Atomy Enterprise India, a subsidiary of the Korean direct-selling company Atomy, plans to invest about Rs 250 crore in the Indian market by 2025 to build three manufacturing units to supply products to the rest of the world. This investment will be made in the form of an FDI.

Skincare, health supplements, and food are among the company's specialities.

Atomy Enterprise India's chief executive officer, Abraham Lee, said the company will focus on the food category to grow its manufacturing business in India. This will include supplements, which he claims are consumed more frequently and thus have higher sales.

The company aims to upgrade into an e-commerce-based direct selling platform. Its business model is such that its members or sellers can purchase its products from an online shopping mall, rather than from another distributor, globally.

The investment in India's arm will primarily be used to establish manufacturing facilities in the country, where Atomy will have a majority stake. Following that, funds will be allocated for the company's next phase of research and development.

More recently, the popularity of Squid Game has boosted K-product sales and contributed to the expansion of everything Korean in India. Since March 2020, sales of Youngdoo's brand have increased by 300% as a result of the pandemic, with over 40 to 50% month-on-month growth.

Atomy was founded in 2009 in Korea and began expanding internationally in 2010 with branch offices in the United States, Japan, Canada, Taiwan, Singapore, Cambodia, the Philippines, Malaysia, Mexico, and Thailand. Global sourcing, global sales have been the company's focus.

According to Allied Market Research, the Indian market for K-beauty products was valued at $10.2 billion in 2019. This is expected to reach $13.9 billion by 2027, with a 9.0% Compound Annual Growth Rate (CAGR) from 2021 to 2027.

In 2019, Asia-Pacific was one of the most important regions in the market, accounting for roughly 70% of the total K-beauty market share.

Image Source

Atomy Enterprise India, a subsidiary of the Korean direct-selling company Atomy, plans to invest about Rs 250 crore in the Indian market by 2025 to build three manufacturing units to supply products to the rest of the world. This investment will be made in the form of an FDI. Skincare, health supplements, and food are among the company's specialities. Atomy Enterprise India's chief executive officer, Abraham Lee, said the company will focus on the food category to grow its manufacturing business in India. This will include supplements, which he claims are consumed more frequently and thus have higher sales. The company aims to upgrade into an e-commerce-based direct selling platform. Its business model is such that its members or sellers can purchase its products from an online shopping mall, rather than from another distributor, globally. The investment in India's arm will primarily be used to establish manufacturing facilities in the country, where Atomy will have a majority stake. Following that, funds will be allocated for the company's next phase of research and development. More recently, the popularity of Squid Game has boosted K-product sales and contributed to the expansion of everything Korean in India. Since March 2020, sales of Youngdoo's brand have increased by 300% as a result of the pandemic, with over 40 to 50% month-on-month growth. Atomy was founded in 2009 in Korea and began expanding internationally in 2010 with branch offices in the United States, Japan, Canada, Taiwan, Singapore, Cambodia, the Philippines, Malaysia, Mexico, and Thailand. Global sourcing, global sales have been the company's focus. According to Allied Market Research, the Indian market for K-beauty products was valued at $10.2 billion in 2019. This is expected to reach $13.9 billion by 2027, with a 9.0% Compound Annual Growth Rate (CAGR) from 2021 to 2027. In 2019, Asia-Pacific was one of the most important regions in the market, accounting for roughly 70% of the total K-beauty market share. Image Source

Related Stories

Gold Stories

Next Story
Infrastructure Urban

BMW Ventures Secures Rs 249.83 Million (mn) Steel Orders

BMW Ventures Limited said it has secured two purchase orders totalling Rs 249.83 million (mn) from Lata Projects Limited for the supply of TMT steel FE-550D grade for three units of 800 megawatt (MW) capacity at the USCTPP Adani project. The orders were disclosed to the stock exchanges under Regulation 30 of the SEBI Listing Regulations and carry a contract value inclusive of all taxes.\n\nThe company stated that the orders will be executed within eight weeks from the date of the purchase orders and that the contract provides for 100 per cent advance payment with specified guarantees. The supp..

Next Story
Real Estate

Housing Sales Dip in Top Eight Cities in Q2, Pune and Bengaluru Hit Hard

Housing sales across the top eight cities fell six point one per cent year-on-year to 91,729 units in the April-June quarter from 97,674 a year earlier, PropTiger’s Real Insight Residential report showed. The moderation reflected seasonal pre-monsoon effects and heightened buyer caution amid the US-Iran conflict. New launches rose six per cent to 89,161 units. The impact was concentrated in technology-driven markets, with Pune and Bengaluru among the hardest hit. Pune recorded the steepest annual decline at 20.8 per cent, with sales falling to 12,642 units, while Ahmedabad declined 20.2 per ..

Next Story
Infrastructure Urban

India And ADB Sign US$230 Million Loan To Modernise Chennai Water

The Government of India and the Asian Development Bank (ADB) signed a US$230 million loan to modernise and expand water supply and sanitation infrastructure in Chennai. Saurabh Singh, Deputy Secretary, Department of Economic Affairs (DEA), signed on behalf of the Government of India and Mio Oka, Country Director of ADB’s India Resident Mission, signed for the lender. The engagement was guided by Baldeo Purushartha, Joint Secretary (ADB and Japan), DEA. The Chennai Climate-Resilient Water Security and Sewerage Project aims to improve access to safe and reliable water and sanitation citywide w..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code