VT GMP Reports Operating Profit of 13.7 Billion KRW in First Half... Ongoing Performance Growth

20% Sales Increase in First Half Based on Influence in Japanese Market
Targeting Japanese Offline Market with New Sika Line Launch

[Asia Economy Reporter Hyungsoo Park] VT GMP announced on the 12th that it recorded an operating profit of 13.7 billion KRW on a consolidated basis in the first half of this year, an 8% increase compared to the same period last year. Consolidated sales reached 114.5 billion KRW, a 20% increase compared to the same period last year.

A VT GMP official explained, "Despite the impact of China's lockdowns, which had been a major consumer of Korean cosmetics, and the sharp decline in interest in K-beauty among the actual Chinese consumer base, VT Cosmetic is rapidly growing in the Japanese market."

Since last year, it has been popular among consumers on Japan's online channels under the slogan ‘1il 1sika’ (One Day One Cica). VT Cosmetic is expanding its cosmetics lineup in major local offline stores that handle high-quality products and have strict entry conditions.

In May, it participated in Rakuten's large-scale event ‘Rakuten Girls Award’ held at Makuhari Messe in Tokyo, Japan. It unveiled the ‘Kemio Edition’ in collaboration with the famous Japanese influencer ‘Kemio’. It is gradually expanding its influence in offline channels as well.

A VT Cosmetic official said, "The Cica Daily Soothing Mask, as well as the Cica Cream, Cica Spot Patch, and Cica Mild Toner Pad from the Cica line, are loved by Japanese consumers." He added, "This month, we will accelerate our attack on the Japanese offline market by launching the new Cica line, ‘VT Cica Vital Line’."

VT GMP continues to practice social contribution activities by donating various cosmetics to single-mother families, vulnerable groups, and children and adolescents in need of beauty care as part of sharing management, together with the Haksan Nanum Foundation and Good Neighbors.