Manyo Factory, 47.1 Billion KRW Sales in H1... 11.7% Increase YoY

Clean beauty leading company Manyeogongjang (CEO Yu Geun-jik) announced on the 14th that it recorded consolidated sales of 47.1 billion KRW and operating profit of 7.2 billion KRW for the first half of this year. This represents an 11.7% increase in sales and a 28.1% decrease in operating profit compared to the same period last year.

The decrease in operating profit compared to the same period last year was due to increased brand and product advertising expenses and the expansion of offline channels in Japan. Advertising expenses increased by approximately 3 billion KRW compared to the same period last year, and the expansion of offline channels in Japan due to the endemic led to an increase in cost of sales. Although overall top-line growth was achieved, operating profit showed a declining trend.

Looking at business performance by country, domestic sales recorded 21.5 billion KRW, a 20.2% growth compared to the same period last year. This was the result of actively promoting top-line growth through aggressive advertising and promotional activities as previously explained. The Japanese market, which accounts for the largest portion of overseas sales, recorded sales of 15.9 billion KRW. The company explained that this is a temporary decline due to the shift to offline channels, representing a 22.8% decrease compared to the previous year. Outside Japan, China, the United States, and Europe showed steady growth despite unstable international conditions.

Manyeogongjang will restructure its domestic online sales channels in the second half of the year to improve sales and profitability. In the Japanese market, it plans to further solidify its high market share through aggressive marketing by employing top-tier local advertising models. Additionally, it plans to focus on sales growth by actively entering major online and offline channels in each country, including China, the United States, and Europe.

A Manyeogongjang official stated, “Although operating profit slightly decreased due to increased advertising expenses and cost of sales in the first half, we succeeded in top-line growth through these efforts. In the second half, we will focus on strengthening the position of major domestic and international channels and concentrate on customized marketing to solidify our foundation.”