[Click eStock] "Inglewood Lab, Opportunity to Lead the Sun Care Market"

Independent research firm FS Research analyzed on the 30th that Englewood Lab presents an opportunity to dominate the sun care market.

Englewood Lab is headquartered in New Jersey, USA, and has global clients with differentiated R&D and product portfolios, operating in the cosmetics OEM and ODM business. Major shareholders include Cosmecca Korea with a 44.1% stake and Japan Kolmar with a 10.1% stake.

Hwang Se-hwan, CEO of FS Research, explained, "Sunscreen has become an essential element of daily skincare routines for both indie and premium brands," adding, "Englewood Lab has leveraged this market change as an opportunity to strengthen its OTC product lineup, including sunscreen, by utilizing its R&D capabilities."

Currently, Englewood Lab is accelerating product market launches through the US FDA approval process, and the R&D development of sunscreen products, which began in 2021, is expected to complete about 100 filings this year. This is analyzed to represent a sales potential of approximately 100 billion KRW annually.

Researcher Hwang stated, "Englewood Lab's performance growth is directly linked to the expansion of the global sun care market," and added, "It implies long-term order potential, allowing for expectations of stable sales growth."

Good performance is also expected this year. Researcher Hwang forecasted that Englewood Lab will record sales of 263.5 billion KRW and operating profit of 39.9 billion KRW this year, representing increases of 27% and 38% respectively compared to the previous year.

He analyzed, "To efficiently respond to large orders from indie brand clients, the existing Englewood Lab Korea production facility in Namdong-gu, Incheon, was expanded by 26%," adding, "Considering the diversification of Englewood Lab's production lines and especially its ability to efficiently handle large orders from indie brand clients, an increase in operating profit margin due to operating leverage effects is expected this year."