Entrepreneur David C. Chung Acquires Amare Global® Holdings, Inc., The Mental Wellness Company®

The worldwide leader in mental wellness solutions, Amare Global®, enters a new era with David C. Chung.

NEW YORK, Jan. 18, 2024 /PRNewswire/ -- David C. Chung, a visionary wellness and beauty products entrepreneur, and Amare Global®, The Mental Wellness Company® and category leader in innovative mental wellness solutions, today announced Chung as majority shareholder and chairman. Chung will bring vast expertise in innovation, brand-building, supply chain, information technology, and overall operational excellence to continue to build the global mental wellness movement.

"I am proud to join the talented executive leadership team, accomplished Brand Partners, and collective vision of Amare Global as we continue to lead the mental wellness category," said David Chung. "With the growing demand for mental wellness solutions, Amare leads with innovative and efficacious products that support the gut-brain axis (GBX) and a healthy microbiome to support mental wellness and a balanced lifestyle."

"Thanks to the far-reaching distribution base, we will create substantial value not only for individuals but for communities across the globe," continued Chung.

Driven by science and powered with high-quality plant-based ingredients, Amare prides itself on maintaining best practices in sourcing and manufacturing processes. This includes strict standards demonstrated by their National Sanitation Foundation (NSF) and Current Good Manufacturing Practices (cGMP) certifications and award-winning formulations. According to a report from the Global Wellness Institute, the mental wellness economy is expected to grow 12.8% CAGR – reaching $330 billion by 2030.*

"In 2017, I started Amare as a passion project, and it has since expanded to more than 45 countries," said Amare Founder Hiep Tran. "I am so excited to welcome David to Amare as Owner and Chairman. Thanks to his visionary approach and established track record, David is the ideal leader to take this brand to even greater heights."

Chief Executive Officer Jared Turner added, "David joins Amare as a respected expert in his field and is well known for creating reputable companies in end-to-end research and development and innovating business operations. We are confident his expertise accelerates our strategic plan to continue to build a strong infrastructure, prioritize social selling, and drive significant growth as we build this brand, and we believe this will deliver value for our Brand Partners, customers, and incredible employees."

"Leveraging my broad experience in strategy, operations, and innovation with my experienced teams across the globe—coupled with my passion for mental wellness—I will ensure Amare Global continues to deliver high-quality, results-driven products that help to improve consumers' lives. I acquired Amare Global to leave a positive legacy in this world. I see a unique opportunity to bring much-needed solutions that transform mental wellness, and Amare Global is leading this movement," said Chung.

ABOUT AMARE GLOBAL
Amare Global® is the category leader in mental wellness solutions, founded on the principles of holistic mental wellness. Amare defines its vision through the alignment of the Five Pillars of Mental Wellness, including Emotional, Physical, Environmental, Financial, and Purposeful Wellness. Recognized as The Mental Wellness Company®, its unique approach addresses the full spectrum of wellness through innovative products informed by the powerful relationship of the gut microbiome and the gut-brain axis (GBX), along with other clinically studied ingredients and blends. With award-winning patented formulations and a dedication to quality, Amare Global delivers transformative solutions that foster love, also known as "amare" in Latin. For more information, visit Amare.com, follow @amareglobal on Instagram, or visit us on Facebook.
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About David C. Chung

David C. Chung established his first businesses, Nova Imports, Mona's, and Cosmetic World, in fashion and cosmetic retail, respectively, before launching his first prestige skincare brand, 3LAB, in 2003. Recognizing the opportunity to improve contract manufacturing, Chung opened his first contract manufacturing and R&D center, Englewood Lab, in New Jersey in 2005. His reputation for quality and safety preceded him, and his clients included global beauty and skincare brands. In 2015, Chung launched FARMACY BEAUTY with Sephora and Green Clean Makeup Meltaway Cleansing Balm, quickly becoming the number one selling cleanser. Chung successfully sold Farmacy Beauty and Englewood Lab.

Chung is the founder and CEO of iLABS US and iLABS South Korea, state-of-the-art beauty innovation centers that offer R&D, turnkey product development, and exceptional finished goods to independent and leading beauty brands, and Morae Packaging, which offers quality glass, plastic, and sustainable packaging solutions for skincare, cosmetics, and fragrance. Chung is the founder and CEO of The Beauty Bank, LLC., which incubates new-to-market skincare and wellness brands, including The Rootist, biological care for the roots, scalp + hair. Chung is the owner and chairman of Amare Global®, The Mental Wellness Company®.

*Global Wellness Institute. (Nov 2023). 2023 Global Wellness Economy Monitor https://globalwellnessinstitute.org/the-2023-global-wellness-economy-monitor/

SOURCE Amare Global