Aekyung Industry reported record quarterly revenue for the second quarter of this year, achieving a turnaround to profitability compared to the previous quarter. Growth in both cosmetics and household goods sectors, particularly in overseas markets, contributed to the improved performance.
The company announced on August 12 that its consolidated revenue for the second quarter reached 194.2 billion won, a 13.3% increase from the same period last year, marking the highest quarterly revenue in its history. Operating profit stood at 4.5 billion won, reflecting a return to profitability compared to the previous quarter.
Notably, the growth of overseas business was significant, with overseas sales accounting for 42% of total revenue, an increase of 7 percentage points from the previous year.
Cosmetics sales reached 75.3 billion won, up 20.5% year-on-year, with operating profit at 4.1 billion won. In China, the company restructured its business model and distribution channels, leading to a recovery in performance. In Japan, Aekyung expanded its offline presence with new products from its makeup brand Luna. In the U.S., AGE20’S and Luna entered local Olive Young stores, targeting the offline market.
Sales in the household goods sector rose to 115.2 billion won, a 9.6% increase from the previous year, with operating profit at 400 million won. Sales of hair care and body care products expanded in overseas markets, including the U.S. and Europe.
In the U.S., three products from the Kerasis line for severely damaged hair are now available in 390 Walmart locations and online. In Europe, sales channels have been broadened to include Poland, Germany, Russia, the Commonwealth of Independent States (CIS), Brazil, and Paraguay.
Looking ahead, Aekyung plans to implement market-specific strategies in the second half of the year. A company representative stated, "We will continue to enter major global distribution channels and explore new markets to expand the foundation for global business growth."
Additionally, Aekyung aims to increase the proportion of cosmetics sales, which was at 32% last year, to over 50% by 2028.
* This article has been translated by AI.
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