Blue Elephant Secures Investment Worth 100 Billion Won from Affirma Capital Managers Korea
Blue Elephant, an eyewear brand, announced on August 7 that it has secured a total investment of 100 billion won from the global private equity fund Affirma Capital Managers Korea.
In this investment round, Affirma Capital will initially invest 75 billion won to acquire both existing and newly issued shares. It has also secured an option to invest an additional 25 billion won within the next six months. If this option is exercised, Affirma Capital's stake in Blue Elephant could increase to as much as 25.8%.
Blue Elephant stated that through this investment, it was valued at approximately 400 billion won, receiving high marks for its growth potential and business competitiveness in the global eyewear market.
The company also expects to see a significant improvement in its financial structure. With the influx of funds, Blue Elephant announced that its debt ratio, which stood at 307% at the end of last year, will be reduced to below 60%, thereby establishing a stable financial foundation for overseas business expansion.
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Blue Elephant plans to continuously expand its offline stores and online sales channels in major overseas markets such as the United States and Japan. The company also aims to further enhance its internal management system and operational structure by leveraging the management expertise of the global private equity fund.
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