KorinMi Raises ₹3 Crore, Turns Profitable, Expands D2C & Clinics
In a significant development in the Indian beauty and wellness space, KorinMi, India’s first Korean skin clinic, has raised a pre-seed funding round of ₹3 crore from investors, including Vikas Agarwal (ex-CEO, Kaya UAE), Vivek Kumar (Venture Garage), and others. This milestone marks a significant achievement for the company, which has achieved profitability within just six months of its inception.
Founded in 2024, KorinMi has revolutionized the Indian skin care industry by blending cutting-edge Korean technology with local skin needs. The clinic’s innovative approach has resonated with Indian consumers, who are increasingly seeking effective and high-quality skin care solutions.
Rise to Profitability
KorinMi’s remarkable journey to profitability is a testament to the company’s vision, strategy, and execution. Within a short span of six months, the clinic has managed to turn around its financials, marking a significant achievement in the competitive beauty and wellness space.
The company’s rapid growth can be attributed to its unique approach to skin care, which combines the latest Korean technology with traditional Indian skin care practices. KorinMi’s expert team of dermatologists and estheticians work closely with clients to understand their skin concerns and develop personalized treatment plans that deliver remarkable results.
Expansion Plans
With its pre-seed funding secured, KorinMi is poised to expand its operations in a big way. The company plans to open 25 more clinics across India, strategically located in key cities and towns. This expansion will enable KorinMi to reach a wider audience, increasing its presence and footprint across the country.
In addition to its offline expansion, KorinMi is also entering the Direct-to-Consumer (D2C) space with professional Korean skincare products tailored specifically for Indian consumers. This move is aimed at providing customers with a seamless experience, allowing them to access high-quality products from the comfort of their own homes.
D2C foray
KorinMi’s D2C foray marks a significant shift in the company’s business strategy, enabling it to connect directly with customers and offer them a personalized experience. The company’s D2C products will be designed to cater to specific skin types and concerns, ensuring that customers receive products that are tailored to their individual needs.
The D2C space is increasingly popular in India, with many consumers opting for online platforms to purchase products. KorinMi’s entry into this space is expected to further cement its position as a leading player in the Indian beauty and wellness industry.
Investors’ Perspective
The investors who have backed KorinMi share the company’s vision and are excited about its growth potential. Vikas Agarwal, ex-CEO of Kaya UAE, notes, “KorinMi has a unique value proposition that sets it apart from other players in the industry. The company’s blend of Korean technology and Indian skin care expertise is a winning formula that resonates with consumers.”
Vivek Kumar, Co-founder of Venture Garage, adds, “We believe that KorinMi has the potential to disrupt the Indian beauty and wellness space. The company’s focus on personalized skin care and its commitment to quality make it an attractive investment opportunity.”
Conclusion
KorinMi’s impressive journey to profitability and its expansion plans are a testament to the company’s vision, strategy, and execution. As the company continues to grow and expand, it is poised to make a significant impact in the Indian beauty and wellness space. With its unique blend of Korean technology and Indian skin care expertise, KorinMi is well-positioned to become a leader in the industry.
Source: https://startuptalky.com/news/korinmi-raised-pre-seed-funding-round/
