- Premier Korean scalp and hair care brand receives continued backing to fuel global market expansion with capital increase -
LOS ANGELES, Aug. 10, 2021 /PRNewswire/ -- Wyatt Corp today announced the intent to substantially increase funding the global growth and brand reach for its Dr.FORHAIR brand, a leading provider of scalp and hair care solutions. The news comes on the heels of the recent launch of Dr.FORHAIR's best-selling product, Folligen Original Shampoo in the US.
Dr.FORHAIR Positioned for Growth as Part of a $41 Million Investment from Wyatt Corp
Wyatt Corp announced on July 27, 2021 that it would attract an investment of $41 million. Board meeting details included plans to increase capital of $13 million by issuing new stocks, which would be carried out by a third-party allocation method. "By attracting investments in the health and beauty segment of our business, we plan to develop Dr.FORHAIR into a global brand," said a Wyatt Corp company official.
Expanding the worldwide reach and adoption of the Dr.FORHAIR product line through bolstered marketing and operational funds is one of the main priorities of the investment strategy. Dr.FORHAIR plans to introduce a new concept head spa flagship store in October and already operates 10 scalp care centers around the world. Customers are attracted to Dr.FORHAIR products as they exclude harmful ingredients and use only scalp-friendly raw material extracts, treating everything from hair loss to sensitive scalps and damaged or oily scalp.
The brand is receiving attention along with promotional efforts for other Korean beauty platforms. "Following our recent online product launch in the U.S., we have planned more active brand expansion in the North American market," said David Kwon, CEO, Dr.FORHAIR. "Through these channels, we'll increase accessibility for Asian customers and all consumers with scalp and hair loss management needs."
Dr.FORHAIR is comprehensive scalp care brand that targets hair and scalp problems with products that mitigate hair loss and bring out hair's natural beauty. Products are rigorously developed and held to strict standards to create easy, professional product experiences in consideration of users' lifestyles and issues.
The brand is already a market leader in the Korean hair loss shampoo industry as well as a recognized scalp care brand throughout Japan, Malaysia, and Singapore with worldwide sales topping 18 million units. This additional investment positions the brand for exponential growth on an even wider global scale.
The brand's renowned Folligen Original Shampoo has already received compelling attention in foreign markets. Starting out in the U.S. with Asian and Korean markets with backing from actor Hyun Bin, positive reception in the Asian community skyrocketed. This attracted a broader audience and the opportunity to launch Folligen Original Shampoo online with one of the largest membership-based retailers in the U.S. The investment builds on this momentum and expand marketing efforts while helping meet product demand.
About Dr.FORHAIR
Dr.FORHAIR is a global scalp care brand by Wyatt Corp with Scalp Labs based in New York and Seoul. Using comprehensive clinical research and industry expertise, the brand provides variety of scalp care products that help millions of customers worldwide.
Website: https://www.drforhair.com/
Media Contact
Sonya Park, sonya.p@kakaocorp.com
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