"K-beauty powerhouse" Olive International surpasses last year's sales in just three quarters

[Financial News] "Growth is continuing simultaneously in the Korean, U.S. and Japanese markets."
 Olive International CEO Lee Jin-ho said on the 30th, "We are being chosen by consumers solely for the strength of our products in countries where beauty brands compete most fiercely worldwide."
 Olive International surpassed last year's full-year sales by a wide margin in just the first three quarters of this year. The company, which operates beauty brands including Sungboon Editor, milktouch and Mommycare, is consequently being recognized as a leading K-beauty player.
 Olive International provisionally calculated its cumulative performance through the third quarter of this year, reporting sales of KRW 240 billion. This was about KRW 36 billion more than its full-year sales of KRW 204.1 billion last year. Sales increased by approximately 70% from the same period a year earlier.
 An Olive International official explained, "Following first-half sales of KRW 150 billion, quarterly sales exceeded KRW 90 billion for the first time in the third quarter." The official added, "The company has set a new quarterly sales record for three consecutive quarters this year."
 Olive International is continuing its rapid growth by raising awareness of beauty brands such as Sungboon Editor and milktouch not only in Korea but also in major overseas markets including the United States and Japan. Sungboon Editor sales are performing well in the United States, while milktouch is gaining traction in Japan. In Korea, demand for Mommycare is steadily increasing.
 Sungboon Editor's Silk Peptide line is leading sales. Peptides are short chains of amino acids that have drawn attention as an ingredient for improving skin elasticity. Products in the Silk Peptide line, including ampoules, toners and sheet masks, have ranked among the top sellers on beauty channels in major markets such as Korea, the United States and Japan.
 In particular, the Silk Peptide Gold Mask entered the top five in Amazon's mask category in the United States. On the first day of Amazon Prime Day last June, the Silk Peptide Ampoule also ranked 16th among bestsellers. Riding this popularity, Sungboon Editor is now available at about 6,100 North American stores, including Target and Ulta Beauty.
 milktouch has established a foothold in Japan's color cosmetics market. With its products available at more than 10,000 Japanese convenience stores, milktouch's local sales outlets now number more than 15,000. The milktouch Silver Veil Lip Tattoo ranked first on Qoo10 for seven consecutive days after its launch. Ji-hyo of global girl group TWICE is currently serving as the brand's model.
 In Korea, Mommycare is attracting attention with a new category called "skin packs." Sold at Daiso, the Sea Grape Skin Pack is a product that can be taken out one sheet at a time like toner pads and applied to the face like a sheet mask for hydration. Cumulative sales have exceeded 1.6 million units.
 Lee said, "Building on the growth foundation established in Korea, the United States and Japan, we plan to expand into other regions, including Europe and the Middle East." He added, "We will continue our growth in new markets based on products whose quality has been proven in demanding markets such as the United States and Japan."
 Meanwhile, Olive International is accelerating efforts to secure global talent to support this growth. As its overseas distribution network expands rapidly, the company plans to continue recruiting talent to lead each market and channel.

[email protected] Kang Kyung-rae Reporter