Hugel reports record-breaking Q2 sales owing to aesthetic products
Hugel said it reported record-breaking quarterly sales in the second quarter thanks to the robust sales performance of its aesthetic products.
According to the company, its sales and operating profit for the second quarter reached 95.4 billion won ($69.4 million) and 42.4 billion won, up 17 and 51.6 percent from the same period in 2023. The company also reported a net profit of 37 billion won, up 72.7 percent.
The company's flagship botulinum toxin product, Botulax (known as Letybo globally), saw a 17.6 percent increase in sales from a year ago.
In Korea, Hugel maintained its market dominance while its international sales surged across key Asia-Pacific markets, including China, Thailand, Japan, Taiwan, Australia, and Europe.
Notably, the second quarter saw a 62 percent increase in overseas sales, highlighted by record shipments to China.
Sales of Hugel's hyaluronic acid (HA) filler products, including The Chaeum and BYRYZN BR HA Skin Booster, also performed strongly, achieving a 20 percent growth.
The company attributed its success to new domestic advertising campaigns and ongoing academic marketing activities targeting medical professionals overseas, resulting in balanced sales growth across the Asia-Pacific region, North and South America, and Europe.
Hugel's cosmetics division also reported a sales increase of over 10 percent.
Hugel plans to expand its presence in overseas markets in the latter half of the year.
Following the initial shipment of Letybo to the U.S. at the end of July, the company aims to establish a stable foothold in the North American market, including Canada.
“In the second quarter, our flagship products like toxins and fillers achieved significant growth globally, leading to record-breaking revenue and operating profit,” a Hugel official said. “We will continue aggressive marketing efforts tailored to local conditions to expand our presence in the U.S., Asia-Pacific, Europe, and other markets where Hugel operates.”