K-self nail brand 'Gelato Lab', which has expanded its presence by hiring singer Chungha and actress Han Ye-seul as models, is being acquired and merged (M&A) by Gluga, the operator of gel nail brand 'Ohora'.

Brand X Corporation announced on the 3rd that it sold its subsidiary Gelato Lab to gel nail specialist Gluga. Brand X Corporation announced that it transferred 63% of its Gelato Lab stake and management rights to Gluga. In the process, Brand X Corporation and its subsidiary Iruda Marketing each acquired 1.3% of Gluga’s stake, for a total of 2.6%.

Gluga was founded as a startup in 2015 and launched Ohora, a semi-cured gel nail product, in 2018. Self-nail products made from liquid gel nail materials used in nail shops in the form of semi-cured stickers have quickly gained ground in the market. Ohora is currently leading the domestic semi-cured gel nail market.

Brand X Corporation announced that it has decided to sell Gelato Lab in order to reorganize its business structure to focus on fashion and marketing and to focus on a profit-oriented business portfolio.

A Brand X Corporation official said about this M&A, "Gluga, the market leader by embracing Gelato Factory, has created an opportunity to expand its market share and further solidify its position as a global nail brand. As a shareholder of Gluga and a future marketing partner, we will fully support it."