Beauty Platform Hwahae Reports 15.1 Billion KRW in Q1 Revenue, Up 57% YoY

Direct Purchase Sales Grow 158%
Subsidiary Bplain Overseas Sales Increase 140%

Birdview, the operator of the beauty platform 'Hwahae,' announced on the 23rd that it achieved consolidated sales of 15.1 billion KRW in the first quarter of this year. This represents a 57% increase compared to the same period last year. The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the first quarter also improved its deficit by 61% year-on-year, raising expectations for a performance rebound.

Hwahae secured growth momentum by expanding its business as a Brand Acceleration Platform (BAP) that discovers and accelerates brand growth. BAP supports rapid brand growth by providing business tools that secure brand content, increase exposure and awareness, and drive purchase conversion. Since August last year, 12 brands have participated, and brand recruitment for the first half of this year has been 100% completed.

Additionally, commerce sales increased rapidly as the number of partner brands grew quickly due to the expansion of direct purchase products. The number of partner brands increased by 54% compared to the same period last year, and direct purchase sales grew by 158% during the same period. New customer inflow also increased by 46%.

Moreover, the overseas sales of its subsidiary Biflane in the first quarter increased by 140% year-on-year, accounting for 40% of Hwahae brand sales. Currently, it has expanded into more than 20 countries including China, Vietnam, Norway, and France, and operates official brand stores on global e-commerce platforms such as Watsons’ 500+ stores worldwide, Amazon, Tmall, Qoo10, and Shopee. Notably, in the first quarter, sales in China doubled, Vietnam’s sales quadrupled, and the European market sales increased more than fivefold compared to the same period last year, showing remarkable growth.

Hwahae plans to accelerate its turnaround to profitability this year by continuing cost efficiency and performance growth across various business sectors. Annual sales are also expected to increase by more than 40%. Woong Lee, CEO of Birdview, said, “It is encouraging that we are creating sales growth in all sectors while strengthening our role as a beauty brand acceleration platform connecting consumers and brand growth. The outstanding overseas performance of Biflane, which is incubated by Hwahae and growing independently, demonstrates the potential and scalability of the brand growth ecosystem Hwahae is building.”