Medicube enters 400 Costco stores in the U.S., expanding its offline retail network

[Financial News] APR’s beauty brand Medicube entered about 400 stores of Costco, a major U.S. retail chain, this month. The company plans to accelerate growth by expanding U.S. sales, which have grown mainly online, into offline channels.
According to industry sources on the 19th, APR is introducing Medicube’s flagship product, the Zero Pore Pad, as a Costco-exclusive offering through this placement. The Zero Pore Pad has ranked No. 1 in sales in the toner and facial toner category on Amazon in the U.S. since February last year, and is also among the top-selling products at major offline retailers in the country. APR plans to add popular products containing polydeoxyribonucleotide (PDRN) in the future, broadening its product assortment at Costco.
APR is rapidly expanding its offline sales network in the U.S. It began with about 1,400 Ulta Beauty stores in August last year, followed by about 1,500 Target stores in May and about 3,000 Walmart stores in June. APR’s North American sales totaled 647.9 billion won in the first half of this year, up more than 260% from the same period a year earlier. APR plans to build a stable foundation for growth by diversifying its online-focused distribution channels into major offline channels.
Further store expansion is also planned. By year-end, APR will enter about 3,000 CVS Pharmacy stores in the U.S., expand its Costco placement to all U.S. stores, and enter Costco locations in Canada and Europe in stages. The rollout at Costco stores in South Korea was completed this month.
An APR official said, “We expect the Costco placement to broaden consumer access to Medicube and allow us to continue expanding our sales base at major retail channels,” adding, “Going forward, we will strengthen our competitiveness in local distribution by expanding our presence at large retailers and regional local channels in a balanced way.”
[email protected] Kang Myeong-yeon Reporter