[Click eStock] "Clio Accelerates Expansion in US and Japan Regions"

On the 16th, NH Investment & Securities forecasted that Clio would "promote stable growth in color cosmetics and high growth in skincare based on the three pillars of Clio, Peripera, and Gudal, while accelerating regional expansion in the US, Japan, and other markets."

Clio's consolidated sales for 2024 are estimated at 390.1 billion KRW, with an operating profit of 48.4 billion KRW. Based on the closing price on the 15th, the current stock price (30,200 KRW) corresponds to a 12-month forward price-to-earnings ratio (PER) of about 14 times, which is considered a reasonable valuation level for investment.

Looking at the current market conditions, South Korea's skincare exports in January 2024 grew by 101% compared to the same month last year. Although there is a base effect from China, the demand for Korean indie brand skincare products in the US has notably expanded. In the second half of 2023, Gudal's Cheonggyul Vitamin C Serum appeared in the serum rankings on Amazon.com in the US, showing strong related sales.

Thanks to this, the proportion of skincare brand sales across the company in 2023 rose to 22%, up 6 percentage points from the previous year. Based on this expansion in skincare-centered demand, the 2024 guidance targets growth of 30% for Gudal (skincare) and 10-15% for Clio and Peripera (color cosmetics).