VT GMP Reports Operating Profit of 8.2 Billion KRW in Q1... "Accelerating Growth as Masks Come Off"

[Asia Economy Reporter Jang Hyowon] VT GMP announced on the 12th that it recorded sales of 57.3 billion KRW and operating profit of 8.2 billion KRW in the first quarter.

According to the Financial Supervisory Service's electronic disclosure system, VT GMP's first-quarter sales and operating profit increased by 29% and 36%, respectively, compared to the same period last year. Following last year, the growth trend continues every quarter, led by its cosmetics division, VT Cosmetic.

A VT GMP official stated, "Our cosmetics division VT Cosmetic's flagship product line, Cica Line, received great love on Japan's online channels last year, starting remarkable growth extending to offline channels as well. This year, we will continuously expand both online and offline channels in Japan and launch new lines to accelerate that growth."

VT Cosmetic's 'Cica Daily Soothing Mask' continues to receive steady love from consumers, ranking first in overall sales during the mega discount event held in March this year on Japan's online platform 'Qoo10'. Additionally, earlier this year, it won the 'Superstar Seller' award on 'Amazon Global Selling,' sustaining the popularity of 'One Cica a Day' throughout Japan.

Furthermore, the 'Blanc de VT Double Layer Tone-up Cushion,' which recorded a sell-out streak on Hyundai Home Shopping in Korea, was launched on Shinsegae Home Shopping, raising expectations for color cosmetics now that social distancing has been lifted and masks are being removed. The 'Blanc de VT Double Layer Tone-up Cushion' attracted consumer attention on social media (SNS) as the 'Jo Kwon Cushion,' since Jo Kwon, an artist from Cube Entertainment, directly participated in product planning.

Meanwhile, VT GMP is donating cosmetics through the Haksan Nanum Foundation as part of its 'Neighbor Love Beauty Care' initiative. This is an effort to promote sharing management for local public interest and socially vulnerable groups, contributing to the cultivation of corporate donation culture. For this contribution, VT GMP received a plaque of appreciation from the Haksan Nanum Foundation.