[THE INVESTOR] An increasing number of Korean cosmetics companies are seeking to get listed, riding the wave of their popularity overseas. The successful initial public offerings of It’s Skin and Tony Moly on the main bourse KOSPI last year seem to have only added appeal to the idea.

CLIO Professional has applied for preliminary review to be listed on KOSDAQ on July 25, according to Korea Exchange. Established in 1997, the makeup specialist saw its turnover surge to 107.1 billion won (US$94.30 million), with net profit of 17.7 billion won last year, both doubling from the previous year. Boosted by its product placement in 2015 hit drama “Producers,” CLIO’s sales rose sharply, especially in China.

It also succeeded in attracting US$50 million from L Capital Asia, an affiliate of the world’s largest luxury brand group LVMH, that estimated the Korean cosmetics firm to be worth 810 billion won. CLIO hopes to go public by the end of this year.

Earlier this month, Cosmecca also turned in its application for preliminary review to be listed on the secondary bourse. Established in 1999, it has grown to be one of the top three OEM/ODMs in the country’s cosmetics industry along with Kolmar Korea and Cosmax,

This is its third attempt to issue an IPO, which the firm hopes to be completed by October. Cosmecca has been trying to go public for the last three years but there have been delays due to a fire at a local factory in 2013 and a relocation request from Chinese authorities for its factory last year. In 2015, its operating profit doubled to 6.4 billion won, and its turnover rose 45 percent to 99.1 billion won on-year.

The leading sheet mask pack maker L&P Cosmetics and OEM/ODM Shinsegae Intercos Korea, a joint venture between Shinsegae International and Italian cosmetics company Intercos, are also seeking to get listed, according to industry sources.

By Hwang You-mee (glamazon@heraldcorp.com)