APR Diversifies Global Market Channels... New Entry into 5 Countries Including Mexico and Mongolia

Contracted with Companies from Ukraine, Turkiye, Moldova, Mexico, and Mongolia
Market Entry through Indirect Methods such as Distribution and Agency Agreements

APR is expanding its overseas distribution channels to target the global market.

According to APR on the 23rd, it has signed exclusive distributor and agency agreements with local companies in five countries: Ukraine, T?rkiye, Moldova, Mongolia, and Mexico. Including Thailand and Qatar, with which contracts were previously made, the company has expanded its distribution channels to a total of seven countries this year.

The brand contracted this time is ‘MediCube.’ Cosmetics and the ‘MediCube AGE-R’ beauty device will be sold.

APR signed exclusive distributor agreements with companies in Ukraine and Mongolia, and agency agreements with companies in T?rkiye, Moldova, and Mexico. An exclusive distributor agreement means the distributor exclusively handles the products for distribution. An agency agreement allows APR to add more agency contracts within the country depending on the situation. APR plans to add contracts based on local market conditions and expected sales volume.

The five countries with which contracts were signed show high interest in K-beauty. In the case of Ukraine, although it is a wartime situation, the war has somewhat entered a lull, and national reconstruction projects and other economic recovery are progressing rapidly. In Mongolia, interest in Korean beauty products is increasing due to the severe temperature differences and dry climate, which have raised demand for moisturizing products. Mexico in Latin America, heavily influenced by the United States, shows high interest in the beauty industry among Latin American countries.

APR expects the contribution of overseas sales to increase further with this expansion of distribution channels. Last year, the company achieved sales exceeding 200 billion KRW, accounting for nearly 40% of total sales, in markets including the United States, Japan, China, Hong Kong, Singapore, Malaysia, and Taiwan.

An APR official stated, “Through this contract, we expect to further strengthen our competitiveness in the global market and provide better services to our customers,” adding, “This is the first step in fulfilling our promise to expand overseas distribution channels made during our initial public offering (IPO), and we will continue to strive to develop overseas markets.”