BENOW

About BENOW

BENOW is a South Korean cosmetics company that has demonstrated remarkable growth since its establishment in 2018. The company was founded by co-CEOs Lee Il-joo and Kim Dae-young, who are both alumni of Seoul National University's Business Administration department and former colleagues at the major Korean beauty company Amorepacific. Their shared background in one of the country's top beauty conglomerates provided a solid foundation for their venture.

The firm operates as a multi-brand beauty enterprise, primarily targeting consumers in the global K-beauty market. BENOW's business model is centered on creating and marketing its own distinct brands, which include the skincare line 'numbuzin', color cosmetics brand 'fwee', and haircare brand 'Riah'. The company generates revenue through the sale of these products across various online channels and has successfully expanded its reach internationally. A significant portion of its sales, over 70%, originates from overseas markets such as the United States, Japan, and Southeast Asia.

BENOW has achieved significant financial milestones, including reaching unicorn status—a valuation of over ₩1.1 trillion—within seven years of its founding. This valuation was notably achieved through the sale of existing shares without issuing new ones, a testament to its consistent profitability and strong cash flow since its inception. The company has attracted investments from major venture capital firms, including IMM Investment, V-One Capital Partners, LB Private Equity, and KB Investment. Financial reports indicate substantial revenue growth, with sales reaching ₩266.4 billion in 2024. The company is currently preparing for an Initial Public Offering (IPO).