Foreign visitors look at Korea-made cosmetics products during a beauty and health care fair at COEX in Seoul, May 29. Yonhap By Yi Whan-woo Manufacturers of beauty products are drawing attention in the M&A market as such products are increasingly more closely linked to medical care, information and communications technology (ICT), artificial intelligence (AI) and other fast growing industries, according to industry analysts, Tuesday. Investment banking companies are especially eying the colored contact lens sector that has been growing at a steep pace.
According to Expert Market Research, a U.S. company which offers research reports and data on various industries, the international colored contact lens market is anticipated to grow 8.
9 percent on average from 2024 to 2032. The growth stems from the increased utilization of colored contact lenses in medical treatment. These lenses are employed to address issues such as color blindness, iris damage, and various other eye-related diseases and disorders.
Star Vision, the country’s No. 1 contact lens distributor, acquired a 49.7 percent stake in i-CODI, a contact lens manufacturer for cosmetic purpose, in early May.
“This case shows chances that are available for investment banking firms to step in and carry out M&As concerning beauty product manufacturers,” an industry source said. For private equity funds (PEFs), they already have been involved in M&As of beauty product companies. A top PEF in the country, Hahn & Company a.