Genome & Company has acquired a controlling stake in Allbloom, a U.S.-based distributor of K-beauty brands. This strategic move aims to accelerate the expansion of its own cosmetics line, UIQ, into the American brick-and-mortar retail sector.
The company announced on Monday that it had purchased a 64.46% share in Allbloom through its newly established wholly-owned subsidiary, Bloom Partners.
Allbloom specializes in exporting Korean beauty brands to the United States and managing their local distribution. The firm’s revenue grew from approximately 17.8 billion KRW (about 13.4 million USD) in 2024 to about 23 billion KRW (about 17.3 million USD) in 2025, marking a 29.6% increase. Last year, exports accounted for roughly 63% of its total revenue. Allbloom has established partnerships with major U.S. retailers like Target and MINISO, and has developed robust capabilities in local sales, logistics, and inventory management.
Genome & Company intends to maintain Allbloom’s existing distribution operations while expanding its brand portfolio and sales channels. The company also plans to leverage Allbloom’s established distribution network and operational infrastructure to facilitate UIQ’s entry into U.S. physical retail stores.
UIQ, launched by Genome & Company in 2021, is a skincare brand that harnesses microbiome technology. The brand, which features proprietary patented microbiome ingredients, has already gained traction in South Korea and Japan. UIQ’s revenue is projected to surge by 50%, from about 8 billion KRW (about 6 million USD) in 2024 to approximately 12 billion KRW (about 9 million USD) in 2025.
In May of last year, UIQ made its U.S. debut by launching an official brand store on Amazon. Looking ahead, the company aims to capitalize on Allbloom’s local distribution network to secure shelf space in major U.S. retail chains.
Breaking into the expansive U.S. retail market requires more than just connections with local buyers; it demands expertise in logistics, inventory control, and efficient handling of deliveries and returns. By tapping into Allbloom’s existing infrastructure, Genome & Company hopes to streamline its market entry process, reducing both time and costs associated with building a distribution network from scratch.
The export of Korean cosmetics to the U.S. is experiencing robust growth. The Ministry of Food and Drug Safety reports that Korean cosmetics exports are expected to hit a record 11.4 billion USD in 2025, with the United States emerging as the top export destination. From January to September this year, exports to the U.S. reached 2.35 billion USD, representing a 40.6% year-over-year increase.
Baek Ji-soo, Chief Executive Officer (CEO) of Genome & Company, explained that this acquisition is a strategic move to establish a strong foothold in the burgeoning U.S. K-beauty market and to create new growth opportunities for UIQ globally. It plans to leverage Allbloom’s established distribution channels and operational expertise to expand the distribution business and facilitate UIQ’s entry into U.S. brick-and-mortar stores.
Genome & Company, founded in September 2015, is a biotechnology firm specializing in microbiome-based drug development. The company listed on the KONEX market in 2018 before transitioning to the KOSDAQ in December 2020. Initially focused on developing microbiome-based cancer immunotherapies, the company expanded its partnerships, notably signing a technology transfer agreement with LG Chem in 2019 for its immuno-oncology candidate, GEN-001.
In 2021, the company diversified into the consumer goods sector with the launch of UIQ, its microbiome-based cosmetics brand. Since then, Genome & Company has broadened its research focus to include novel targeted cancer therapies, such as antibodies for antibody-drug conjugates (ADCs). In 2024, the firm inked a technology transfer deal for ADC antibodies with Swiss pharmaceutical company Dibaiofarm. Recently, the company has been actively expanding its global distribution network for cosmetics, pursuing a dual strategy of new drug development and consumer goods marketing.