Urbanica to Launch South Korean Beauty Brand 'Moida K-Beauty' in Israel

Urbanica, part of the Castro-HODIS group, has signed a principal agreement with Silicon2, a major South Korean beauty products company, to exclusively distribute the 'Moida K-Beauty' brand in Israel for the long term. The initial investment is approximately NIS 60 million (about $16 million USD), with Urbanica contributing about NIS 42 million ($11 million USD). The venture is expected to launch in 2027.

Silicon2, established in 2002 and listed on the KOSDAQ exchange, is a global distributor of K-Beauty products with expertise in international trade and distribution. The company operates 'Moida K-Beauty' stores and online platforms across Asia, the US, and Europe. Under the agreement, Urbanica and Silicon2 will explore establishing a joint venture in Israel, where Urbanica will hold a 70% stake and Silicon2 30%. This joint company will import, market, distribute, and sell Korean cosmetics sourced from Silicon2, alongside complementary lifestyle products.

South Korea is the world's second-largest cosmetics exporter, with the global market exceeding $130 billion. K-Beauty has gained significant popularity in Western markets, driven by digital platforms and social media trends. Silicon2's revenues for the 12 months ending June 30, 2026, were approximately $958 million, with a market capitalization of about $2.2 billion.

"We are proud to bring a unique and innovative concept to Israel, featuring leading South Korean beauty brands," said Yair Ohayon, Chairman of Urbanica and CEO of Castro-HODIS. Mariano Karp, CEO of Urbanica, added, "We see this as a consumer breakthrough, allowing Israelis to enjoy hundreds of the world's most beloved beauty brands. We believe the combination of Silicon2's international strength and experience with Urbanica's knowledge of the Israeli consumer will create an excellent foundation for the first K-Beauty platform in Israel."