KorinMi raises Rs 3 crore, enters direct to customer retail market in India

Gurugram-based Korean skincare business KorinMi has raised Rs 3 crore in a pre-seed funding round and plans to launch 25 offline outlets in Indian metros including Hyderabad, Mumbai, and Chennai over the coming three years. 

“We’re formalising a new category in professional Korean skincare tailored for Indian consumers with a high-trust clinical approach,” KorinMi’s co-founder Reshbha Munjal told ET Retail in an interview. KorinMi’s funding round was led by Vikas Agarwal, the former CEO of Kaya Skin Clinic, and also saw participation from angel investors including Vivek Kumar of Venture Garage. 

The business plans to use its new capital to widen its clinic network to reach more metro shoppers. In addition, KorinMi will harness the investment to launch its own direct to customer skincare range. The product line will use Korean beauty principles and cater to the growing demand for K-Beauty in India. 

Indian national Reshbha Munjal and South Korean national Jenovia Daun Jung launched KorinMi last year. The business aims to tailor Korean skincare expertise to Indian beauty needs, according to its Facebook page. The brand currently counts two brick-and-mortar locations, one in New Delhi’s Defence Colony and one in Gurugram’s Worldmark.