Aekyung Industrial posts record third-quarter revenue despite 3.3 billion won operating loss

[Financial News] Aekyung Industrial Co., Ltd. posted an operating loss as it expanded brand investment despite revenue growth.
Aekyung Industrial Co., Ltd. said it provisionally tallied and disclosed on the 2nd that it had swung to an operating loss of 3.3 billion won in the third quarter on a consolidated basis, compared with the same period a year earlier.
Revenue for the period rose 12.5% to 190.4 billion won, a record for the third quarter. Revenue for the first three quarters totaled 543.3 billion won, up 10.5% from the same period a year earlier.
Aekyung Industrial Co., Ltd. said that, as its household goods and cosmetics businesses continued to grow in global markets, it had expanded brand investment, including by appointing global ambassadors, to strengthen its mid- to long-term competitiveness.
Revenue in the cosmetics and household goods divisions rose 13.9% and 11.5%, respectively, from a year earlier, to 58.7 billion won and 127.8 billion won. Household goods revenue reached a quarterly record.
Cosmetics sales were driven by overseas revenue, which continued to post double-digit growth. Its flagship brand AGE20'S regained growth momentum in China, and the company expanded overseas sales channels, including through its entry into OLIVE YOUNG in the United States. In Japan, it posted strong sales at Qoo10's Megawari event. It also grew in South Korea, led by digital and health-and-beauty channels.
AGE20'S has tapped Rei of IVE as its global ambassador and is currently rebranding to appeal to younger consumers. LUNA, signiq and One Thing are also broadening their customer reach.
Personal care sales, including haircare and bodycare, rose 13.1% and led growth in household goods. Hair-loss care brand BLACKFORET tapped actor and creator Kim Won-hoon as its model and ran an integrated marketing campaign and an experiential booth at MUSINSA Megastore Seongsu. Overseas, the company is building up Kerasys, SHOWERMATE and LUVSCENT, with a focus on the Americas and Europe.
A representative of Aekyung Industrial Co., Ltd. said, "Building on strategies such as diversifying its global markets, strengthening the competitiveness of its core brands, and expanding its portfolio around promising categories, the company will enhance its competitiveness in each market and lay the foundation for mid- to long-term growth."
[email protected] Kang Myeong-yeon Reporter