Home > Business > Industry

Juno Hair sells to Blackstone in landmark private equity deal

Published: 02 Sep. 2025, 16:34 Updated: 02 Sep. 2025, 17:52

A Juno Hair salon in Seoul on Sept. 2 [YONHAP]

Blackstone, the U.S.-based private equity giant, will acquire Juno Hair, Korea’s largest hair salon franchise, in a deal valued at several hundred billion won. It marks the first time a hair salon chain has been sold to private equity, a market where investors have typically focused on cosmetics and beauty devices.

Blackstone said Tuesday it signed a final agreement to take a major stake in Juno Hair. Neither side disclosed the price, but industry estimates place the deal at up to 800 billion won, or about $575 million. Founder and chief executive Kang Yun-seon will remain in management.

Juno Hair reportedly valued its 100 percent stake at 800 billion won during negotiations. Analysts said the unusually high valuation for a salon business reflected both the premium attached to K-beauty and the company’s ownership of high-value properties in prime districts such as Cheongdam-dong and Seongsu-dong in Seoul.

Founded in 1982 as a single salon in Seoul’s Donam-dong, Juno has since grown into a group comprising affiliates such as Juno Beauty, Juno Depot and Juno Academy. The group reported annual revenue of 300 billion won and earnings before interest, taxes, depreciation and amortization (Ebitda) of around 37 billion won.

The 800-billion-won valuation represents more than 20 times the Ebitda, leading some to predict that negotiations would stall. But Blackstone determined that Juno’s more than 3,000 highly skilled hair stylists across some 180 locations nationwide, combined with its capabilities in hair and wellness services, gave it strong potential for overseas expansion.

Blackstone has previously invested in Korea’s Simone Accessory Collection, a handbag maker; Geo-Young, a pharmaceutical distributor; and JJ Tools, a cutting tools manufacturer. Juno Hair will be its fourth PE investment in the country.

This article was originally written in Korean and translated by a bilingual reporter with the help of generative AI tools. It was then edited by a native English-speaking editor. All AI-assisted translations are reviewed and refined by our newsroom.
BY KIM JI-HYE [[email protected]]