'Skin1004' Crever Surpasses 100 Billion KRW in Sales in the First Half of the Year

Achieving 100 Billion KRW Sales for the First Time Since Establishment
Separating Brand Business and Platform Business in the Second Half

Craver announced on the 26th that it surpassed 100 billion KRW in sales for the first time in history during the first half of the year.

Craver's sales and operating profit for the first half were 134.6 billion KRW and 33.8 billion KRW respectively, exceeding last year's annual sales (93 billion KRW) and operating profit (10.8 billion KRW). In the second quarter, sales reached 84.3 billion KRW and operating profit was 23.1 billion KRW, representing a 350% increase in sales and a 680% increase in operating profit compared to the same period last year.

The brand driving Craver's sales growth is the skincare brand Skin1004. Skin1004 recorded sales of 66.1 billion KRW in the second quarter, a 350% increase compared to the same period last year. Operating profit was 21.5 billion KRW, a 670% increase during the same period. Including first quarter sales, the total sales for the first half reached 102.9 billion KRW. It has grown into a brand with over 100 billion KRW in sales in just half a year.

Inseung Kwak, Head of Skin1004 and CIO of Craver, said, "Despite fierce competition in the Southeast Asian market, Skin1004 ranked first in the K-beauty sector in the first half on major markets such as Shopee and TikTok Shop," adding, "It has been confirmed that Skin1004 will be stocked in more than 650 ULTA stores, a major beauty retailer in the United States."

In addition to beauty brands, Craver is also developing various businesses including Original Design Manufacturing (ODM) and distribution platforms. Craver plans to enhance and reorganize its organization in the second half of the year according to the company's scale and growth. Recently, to operate the brand business and platform business independently, the offices of Skin1004 and the B2B beauty specialized platform ‘UMMA’ were separated.

UMMA distributes K-beauty brands to the global market. Currently, many brands including its own are preparing to enter Costco through UMMA. Thanks to the global expansion of K-beauty brands, UMMA's sales and operating profit in the second quarter increased by 240% and 660% respectively compared to the same period last year.

So-hyung Lee, CEO of Craver, said, "Craver will challenge the ultra-premium skincare sector, which domestic beauty brands have not entered so far, through the global expansion of Skin1004 and new material cosmetics developed by SR Biotech."

Meanwhile, Craver recently selected Goodai Global, which operates Chosun Minyeo, as the preferred bidder for the management rights sale and is continuing negotiations.