Neora acquires ACN Korea to expand its science-based personal care into the Asia-Pacific
29 Jan 2024 ---Neora acquires ACN Korea to continue the global relationship marketing company’s ongoing expansion across the Asia-Pacific region.
The Texas, US-based company creates “science-driven” and “age-fighting” skin care and wellness products. Neora’s current customer base is in North America, Latin America, and the Asia-Pacific.
ACN Korea is a “prominent player” in Korea’s direct sales sector and is known as the “sole provider of direct sales telecommunications and essential services in Korea,” being a top 20 company in its industry.
“Coming together, we are set to unleash an unparalleled synergy, combining our unique strengths to foster growth and opportunities, not only across Korea but throughout Asia,” said Robert Stevanovski, chairman and co-founder of ACN.
“Making people better”
The companies will come together under the Neora brand and expect growth in direct sales. Neora says the acquisition positions it to leverage its social selling system and customer base.
Neora will leverage its product line based on science in the Korean market.“The ACN team has built an impressive legacy, and our shared commitment to ‘making people better’ aligns perfectly with our global mission. Together, we are poised to build a transformative legacy in the Korean market,” emphasizes Jeff Olson, founder and CEO of Neora.
The science-based personal care brand continues that the transition underscores its “dedication to fostering innovation, growth and success” in the Korean and broader Asia-Pacific markets.
“Our journey with our respected counterparts has been rooted in mutual admiration and a deep, personal connection spanning more than two decades. This is more than a business transaction; it’s a fusion of visions, paving the way for our employees, independent salespeople, and all stakeholders to thrive in an exciting, expansive new era,” asserts Stevanovski.
Korean market
Last week, South Korea-based CJ Olive Young collaborated with Kolmar Korea to create a research lab for microbiome skin care products. Kolmar Korea established a research center within its R&D Complex, where researchers from both companies conducted related research.
Last year, beauty tech company APR Corporation moved forward with preparing for an IPO on the Korea Exchange, with a valuation of over KRW 1 trillion (US$749.4 million).
Since launching its beauty device brand Medicube AGE-R in 2021, the company recorded sales and operating profit of KRW 259.1 billion (US$194.1 million) and KRW 4.2 billion (US$3.1 million), respectively, in 2021, APR advanced to a medium-standing company with KRW 397.7 billion (US$29 million) in sales and KRW 39.2 billion (US$29 million) in operating profit in 2022.
Edited by Sabine Waldeck
