South Korea’s high-end camping gear company Helinox Inc. has attracted 40 billion won ($34.68 million) from IMM Investment Corp., hoping to use the latest investment to make inroads into overseas markets and go public in the next three to five years.

According to investment banking sources on Sunday, IMM Investment has secured 22 percent in Helinox at 40 billion won to become the second largest shareholder after Ra Yeong-hwan, CEO of Helinox, with a 62 percent stake. Another local private equity firm SkyLake Equity Partners is now No.3 shareholder.

For the latest stake investment, Helinox was valued at 200 billion won.

Founded in 2011, Helinox manufactures and markets premium outdoor gear, which offers maximum strength with minimum weight.

The company has been rapidly growing at an average growth rate of 33 percent each year on the surge of interest in outdoor recreation during the Covid-19 pandemic. Last year, it logged 51 billion won in consolidated sales. It has collaborated with global brands including Supreme and Disney, as well as K-pop sensation BTS building brand awareness in the global market.

Helinox said it will use the funding to further expand into the global market and develop and launch new premium lifestyle products. The company is looking to go public within the next three to five years.

By Kang Doo-soon, Park Chang-young and Lee Soo-min

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