Private equity funds affiliated with Blackstone, which in 2021 made a majority investment in Supergoop!, have made a "significant," but unspecified investment in South Korean hair care brand Juno.
Under the terms of the deal, Juno's founder, Yun-Seon Kang, will remain in her role as CEO and support the brand's global expansion.
Juno was founded in 1982 and now boasts 180 branches in South Korea, with market reach in Singapore, Vietnam, the Philippines, Japan and Thailand.
The brand centers a multi-step approach to hair wellness, similar to K-beauty principles seen in skin care, focusing on artistry and preventative wellness.
The company's Juno Academy, meanwhile, is a key hub of K-beauty stylist training.
Of the deal, Kang said, “This partnership with Blackstone marks an important milestone event in Juno's journey and reaffirms the confidence we have in the company, our 3,000+ Juno family members comprising of designers and care technicians, and the future of the brand. We are very excited to partner with Blackstone, who shares our vision of delivering exceptional Korean beauty and wellness services to a global audience. Blackstone brings unique scale and a global platform, which will help drive our expansion and solidify our leadership in K-beauty.”
Eugene Cook, head of Korea for Blackstone Private Equity, said, “It’s an honor and privilege to partner with CEO Kang, the entire Juno leadership team, and extensive community of talented hair care specialists in the Juno system. This partnership reinforces Blackstone’s commitment to partnering with visionary entrepreneurs and supporting family-owned businesses to accelerate their growth using Blackstone’s global scale, operational expertise, and expert networks. Juno represents Blackstone’s fourth private equity investment in South Korea, where we have invested behind industry leading companies together with visionary entrepreneurs, and committed to working towards their long-term success.”
Sonny Park, principal, Blackstone Private Equity, said, “We are seeing explosive global demand for Korean beauty services, and we are thrilled to be at the forefront of this trend through Blackstone’s partnership with Juno. Consumer beauty and wellness services is an important investment theme for Blackstone’s Asia Private Equity business, and we seek to help companies thrive and better serve their customers, both domestically and internationally, through best-in-class resources and expertise. We look forward to welcoming Juno into Blackstone’s global ecosystem.”
