APR Sees Rapid Growth in Europe with 363% Increase in First Half Revenue

Beauty company APR has expanded its online and offline sales channels in Europe, surpassing 220 billion won in revenue for the first half of the year. The company plans to accelerate its goal of achieving 500 billion won in annual revenue by broadening its product range and distribution network in the region.

APR reported on August 19 that its European revenue for the first half of the year reached 228.9 billion won, marking an approximate 363% increase compared to the same period last year. This figure accounts for about 17% of the company’s total revenue for the first half. A company representative stated, "Since setting the goal to strengthen our presence in the European market at the beginning of the year, we have steadily expanded our brand's foothold locally and are seeing tangible results."

Earlier, APR opened official sales channels on Amazon in major European countries including the UK, France, Germany, Italy, and Spain at the end of last year. As of June, revenue by country had increased by an average of more than eight times compared to January. Notably, in June, the company recorded its highest monthly sales ever, driven by the promotional effects of Amazon's Prime Day.

The expansion of offline sales channels has also shown positive results. Since entering the European offline market early last year, APR has consistently increased its local retail presence. In March, the company entered Sephora, a global beauty retail channel. Consequently, cumulative offline sales in Europe for the first half of the year increased by more than nine times compared to the same period last year.

APR is also enhancing its product portfolio to meet local consumer demand. The number of stock-keeping units (SKUs) operated in Europe during the first half of the year has increased more than fivefold compared to last year.

Building on this growth, APR has raised its revenue target for the European market. During a conference call earlier this month, the company announced an increased annual revenue target of 500 billion won for Europe. Based on first-half sales alone, this means approximately 46% of the annual target has already been achieved.

An APR representative noted, "In the first half of this year, we confirmed strong consumer demand for MediCube in the European market, further strengthening our brand's growth foundation. We will continue to enhance our brand competitiveness in Europe through a diverse product portfolio and channel mix strategy."

Meanwhile, APR's consolidated revenue for the second quarter of this year was reported at 767.5 billion won, a 134.2% increase compared to the same period last year. Operating profit for the same period rose by 134.5% to 190.6 billion won.