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Premier Korean scalp and hair care brand receives continued support to drive global market expansion with capital increase.
August 10, 2021
By: Lianna Albrizio
Associate Editor
Wyatt Corporation today announced its plans 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. In late July, Wyatt Corporation announced 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. The comprehensive scalp care brand 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. Expanding the worldwide reach and adoption of the Dr.FORHAIR product line through bolstered marketing and operational funds is a high prioritity 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. The draw of Dr.FORHAIR products including its exclusion of harmful ingredients and its usage of scalp-friendly raw material extracts to treat everything from hair loss to sensitive scalps and damaged or oily scalp. The brand is garnering 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, chief executive officer of Dr.FORHAIR. “Through these channels, we'll increase accessibility for Asian customers and all consumers with scalp and hair loss management needs.”
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