Automotive supplies specialist Bullsone announced on the 1st that it recorded its highest-ever sales last year. This achievement came just over eight months after the inauguration of new CEO Jeon Jae-ho in April last year. CEO Jeon expressed his ambition, stating, "We will strive to build a foundation for continuous growth and leap to a 300 billion KRW sales company by 2025."
Since surpassing annual sales of 100 billion KRW in 2014, Bullsone has maintained steady growth. Last year, marking about a decade since then, the company achieved consolidated sales of 148.2 billion KRW and an operating profit of 10 billion KRW, setting a record high in sales since its founding. This represents a 9.9% increase in sales and a 16.5% increase in operating profit compared to the previous year.
In particular, sales of Bullsone's flagship product, the fuel additive 'Bullsone Shot,' led the sales growth with a 10% increase year-on-year. Products in the automotive supplies category such as car air fresheners, wipers, and car wash items also recorded growth of over 10% compared to the previous year.
This performance was achieved within eight months of CEO Jeon's appointment in April last year. Having previously served as Marketing and Sales Director at LG Household & Health Care and CEO of Haitai htb, CEO Jeon has focused on building a foundation for sustainable growth, including improving the financial structure through asset soundness.
Additionally, CEO Jeon acquired BullsEye, a company developing lifestyle-oriented AI radar, and made a strategic investment in ThinkEye, an IoT safety driving solution company. He also signed a memorandum of understanding (MOU) with Auto&?a mobility life specialist company?putting full effort into securing momentum for new business initiatives.
Moreover, the sales driven by focusing on the e-commerce market contributed to the record-high performance. Moving away from a past strategy focused on offline markets, Bullsone newly established a sales headquarters and concentrated on nurturing Bullsone Mall in line with the D2C (Direct to Consumer) market trend. Through this, e-commerce sales increased by approximately 150% compared to the previous year.
Furthermore, various advertising and marketing activities leading the vehicle care culture were strengthened. The importance of engine management was promoted through the Bullsone Shot TV commercial, and the official YouTube channel 'Love My Car by Bullsone' was newly renewed. Within a short period, it gained over 50,000 subscribers by providing content that corrects misinformation and perceptions about vehicle care on YouTube.
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