HPO: "Chinese Subsidiary's Singles' Day Sales Increased 177% Year-on-Year"

[Asia Economy Reporter Hyunseok Yoo] Premium health functional food brand Denps' parent company, HPIO, announced on the 19th that its sales during China's largest shopping festival, Singles' Day, increased by approximately 177% compared to last year's Singles' Day.

HPIO operates both online and offline channels simultaneously to sell its own brand Denps products in China. The sales of its Chinese subsidiary during this year's Singles' Day reached 3.96 million yuan (approximately 700 million KRW), showing significant growth compared to 1.43 million yuan (approximately 300 million KRW) during the same period last year.

An HPIO official stated, “What makes this year's growth trend more meaningful is that while most brands participate in price discount events and focus on maximizing sales by utilizing local agencies during Singles' Day, Denps, which aims to be a premium brand, secured high profitability through a strict pricing policy and a direct operation method without using agencies. The online sales channel is a standalone flagship store operated by HPIO, and even during a period flooded with discount events, consumers visited, recognized the brand's value, and made active purchases, confirming that the brand's premium value is being established.”

He added, “Offline as well, strong growth was seen with sales of 1.1 million yuan (approximately 200 million KRW) based on our supply price generated during Singles' Day at Sam’s Club, China’s No.1 membership discount store operated by Walmart. The fact that good results were achieved in a channel where entry itself is meaningful is a positive factor for the potential expansion of sales channels in the future. Riding this trend, sales of Denps products in the Chinese market this year are expected to exceed 15 billion KRW, more than double last year’s amount.”