VT Reports Operating Profit of 24 Billion KRW in Q1 This Year, Up 3780% Year-on-Year

VT announced on the 14th that its consolidated operating profit for the first quarter of this year reached 24 billion KRW, marking a 3780% increase compared to the same period last year. Sales revenue increased by 113% year-on-year to 101.8 billion KRW.

Building on its success in the Japanese market, VT is beginning a new leap forward in the domestic market. Ridleshot established itself as VT’s main revenue product within three quarters of its launch last year, and this trend continues. It is selling out on major online sites not only in the existing Japanese market but also in the Korean market, and it is gaining momentum as a word-of-mouth hit item at Daiso.

The Ridleshot line is a product that helps soothe and regenerate the skin by enhancing the absorption of active ingredients through physical skin regeneration along with Cica extract. As a new concept cosmetic different from existing products, it is nicknamed the “topical skin beauty device.” In addition to the existing 100, 300, and 700 lines, Ridleshot offers a 50-shot line for sensitive skin tailored to consumers seeking spot care, and a 1000-shot line that provides more powerful skincare.

A VT representative stated, “This year, growth in the Korean market will continue centered on Olive Young and Daiso. Despite growth in the Japanese market, the share of the Japanese market, which accounted for 77% of total sales last year, is expected to decrease due to the expansion of the Korean market. We anticipate that 2024 will be the inaugural year for diversification of sales by country.”

They added, “In the U.S. market, sales began centered on Ridleshot after the opening of the Amazon US brand store in November last year, and in the Chinese market, Ridleshot’s hygiene approval is currently underway.”