Aekyung Industrial's sales on Amazon jump 58% in H1 2023

South Korea's Aekyung Industrial announced on Tuesday that its sales on the US e-commerce platform Amazon in the first half of this year increased by 58% compared to the same period last year.

The company explained that the release of specialized new products tailored to local demand was the key factor behind this success.

One example is Aekyung's flagship cosmetics brand AGE20's, which introduced the color "Deep Color Tone 31 Medium Tan" in its "Essence Cover Pact" lineup to match the local consumers' skin tones. Another brand "Luna" also gained popularity in the US with its bright tones of 0.5 Porcelain and 0.7 Ivory in its signature product, the "Long-lasting Tip Concealer."

During the two-day Amazon Prime Day event held on July 11, Aekyung reported that their daily sales increased 11 times compared to the average daily sales of the previous 30 days. AGE20's Essence Cover Pact ranked 65th in the foundation makeup category, while Luna's Long-lasting Tip Concealer and Setting Fixer ranked 49th and 79th, respectively, in the concealer and foundation primer segments.

The company also experienced a five-fold increase in sales on Amazon Japan in the first half of the year. During Amazon Japan's Prime Day, AGE20's Essence Cover Pact achieved the 6th position in the foundation makeup category. Furthermore, Aekyung achieved sales worth 15.7 billion won ($12.5 million), a 22% increase compared to the same period last year, during China's largest shopping festival, the June 18 Shopping Festival.

Based on these overseas achievements, Aekyung Industrial is expected to see a significant improvement in its performance this year.

According to FnGuide, the average consensus for Aekyung Industrial's operating profit this year is 60 billion won ($47.6 million), a projected increase of 53.8% compared to the same period last year (39 billion won or $31 million).

"We plan to introduce new base colors tailored to the US market in September, aiming to further strengthen the brand's competitiveness," an Aekyung Industrial source said.

Write to Ji-Yoon Yang at yang@hankyung.com