[Click eStock] "Clio, Good Momentum Not Only in Color Cosmetics but Also in Skincare... Target Price Maintained"

On the 2nd, Kiwoom Securities evaluated Clio as showing good growth not only in color cosmetics but also in basic brand growth, indicating that its brand portfolio is further expanding. They maintained a 'Buy' investment rating and a target price of 45,000 KRW.

Sojeong Jo, a researcher at Kiwoom Securities, predicted, "Clio's second-quarter sales are expected to reach 94 billion KRW, a 16% increase compared to the same period last year, and operating profit is expected to be 9.4 billion KRW, a 45% increase, in line with market expectations."

Regarding overseas sales, Researcher Jo explained, "By country, growth is expected to be 50% in the United States, 49% in Japan, 15% in Southeast Asia, and 14% in China compared to the same period last year," adding, "The U.S. showed growth momentum from the Cheonggul C line, Japan experienced growth in offline channels, Southeast Asia expanded its channels, and China saw growth from the launch of exclusive products."

Researcher Jo also pointed out that the product portfolio is growing. He said, "As basic brands show good growth potential, the portfolio is being upgraded," adding, "Additionally, the dependence on Chinese channels is low, and there is excellent growth potential in the U.S. and Japan, so sustainable growth is expected in the future."