Korean eyewear brand Blue Elephant raises $70M, opens first US store
What's the deal? Blue ElephantDealroom has a profile for this one. Try Dealroom →, a South Korean eyewear brand, has raised 100 billion KRW ($70 million) in growth equity from private equity firm Affirma CapitalDealroom has a profile for this one. Try Dealroom →. The round values the company at 400 billion KRW, and coincides with the opening of its first US flagship in Beverly Hills.
What's the endgame? Founded in Seoul in 2019, Blue Elephant sells trend-driven sunglasses and optical frames at accessible prices — all US styles cost either $49.90 or $69.90. It now runs 36 stores across South Korea, Japan, and the US.
Why now? The company says more than half of sales at its Seoul and Tokyo stores come from international visitors, with Americans its largest Western segment. That demand shaped the decision to enter the US, with Japan also flagged as a priority market.
The details: The 7,000-square-foot flagship sits at 300 North Beverly Drive in a restored 1940s building, operating as both store and event venue. It carries the full eyewear range plus a 10-model L.A. Exclusive Collection built for the market.
Where the money goes: Blue Elephant plans to use the capital to expand its physical store network, strengthen global operations, and reach more international customers, with the US and Japan as priority markets.
The signal: The raise lands in the top tier of eyewear funding by size, placing it in roughly the 88th percentile by amount. It reflects a bet that an accessible pricing model, proven across Asia, can translate into a broader American retail network — in a Beverly Hills market dominated by luxury names.
Read more: retailboss.co
Image credit: Generated with Gemini
