A slew of beauty and fashion companies in South Korea are scheduled to go public this year as their brands gain prominence in the global market.

According to sources from the securities industry on Tuesday, vegan beauty brand d’Alba Global plans to complete its book-building process for institutional investors by Wednesday and open public subscription from Friday to Monday.

The company’s market capitalization is estimated to be between 657.8 billion won ($474.68 million) and 800.2 billion won based on its offering price range.

As a mid-to-large initial public offering (IPO) following the recent withdrawals of DN Solutions and Lotte Global Logistics Co., expectations are high that the company could help revive market sentiment.

Founded in 2016, d’Alba Global is a beauty brand with a high export ratio and is highly regarded for its strong global consumer base.

The brand has built recognition in the United States, Japan, and Southeast Asia with its functional cosmetic product d’Alba Mist.

Around 70 percent of its total sales come from overseas markets, driven by social media-based digital marketing and a product promotion strategy targeting airline crew, leading to rapid global expansion.

Meanwhile, BIOBIJOU Co., a beauty medical company that saw strong demand during its book-building session will conduct public subscription from Thursday to Friday.

The company recorded a competition ratio of 1,094.25 to 1 during its bookbuilding session held from April 23 to 29. Its IPO price has been set at the top of the desired range of 9,100 won.

More Korean beauty and fashion companies aiming to expand globally have gone public this year.

AU Brandz Co., which went public in April, rebranded its rain boots label from Rockfish to Rockfish Weatherwear, and succeeded in its IPO with strong demand forecasts, high retail investor interest, and a strong performance on its first trading day, despite the overall IPO market slowing down.

Memebox Corp., is also preparing for an IPO. It appointed Samsung Securities Co. as its lead underwriter in 2024.

It operates brands such as I‘M MEME and Kaja.

Musinsa Co., one of Korea’s largest fashion platforms, is also expected to make visible moves toward going public this year by selecting underwriters.

The company has yet to announce any official IPO timeline, but it is considered a strong candidate for a trillion-won offering.

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