TIRTIR's Export Hits $100 Million in First Half... Surpasses Last Year's Annual Sales Already

Annual Sales Target of 300 Billion Won Expected to Be Achieved Early
Mask Fit Red Cushion Ranks No.1 on Amazon
Sold Out Despite 400% Increase in Production Capacity

TIRTIR, which ranked first in cushions on the world's largest online shopping mall Amazon in the United States, has surpassed last year's annual sales (120 billion KRW) with its export volume in the first half of this year alone. With increasing purchases of TIRTIR products in Japan and the United States, it is expected to achieve its annual sales target of 300 billion KRW ahead of schedule.

According to the distribution industry on the 13th, TIRTIR's export volume in the first half of this year is close to 100 million USD (about 137 billion KRW). Including domestic sales, it has exceeded 170 billion KRW, recording the highest half-year sales ever, according to the company.

TIRTIR recorded annual sales of 123.7 billion KRW in 2022, surpassing 100 billion KRW in sales for the first time. Last year, sales reached 171.9 billion KRW, a 40% increase compared to the previous year. This year's annual sales target is 300 billion KRW, a 75% increase from last year.

TIRTIR is a brand established in 2019. Until 2022, it expanded its export volume mainly in Japan, but since last year, it has expanded its market to the Americas, Southeast Asia, and Europe. Gudai Global, which grew Beauty of Joseon, famous as the 'No.1 sunscreen on Amazon,' is collaborating on the entry into the Americas. After acquiring TIRTIR in April, Gudai Global is applying its know-how of Beauty of Joseon's entry into the U.S. market to TIRTIR.

The largest market for TIRTIR's sales volume is Japan. More than 80% of total sales occur in Japan. Sales are generated through online direct purchase platforms (Qoo10, Rakuten) and over 7,000 offline stores. The flagship product is the ‘Mask Fit Red Cushion.’ TIRTIR first introduced the Mask Fit Cushion series in Japan in 2021, and among Japanese consumers who prefer makeup that does not break down due to the humid climate, the Mask Fit Red Cushion gained word-of-mouth popularity, leading to a rapid increase in sales. In fact, sales in Japan last year amounted to 120 billion KRW, a 51% increase compared to the previous year.

The growth rate in the Americas market is even steeper. Sales in the Americas in the first half of this year reached 31 billion KRW, a 4500% increase compared to the first half of last year. Targeting the diverse ethnic market in the United States, TIRTIR launched the Mask Fit Red Cushion in 30 different tones, which attracted explosive consumer interest. Thanks to this, TIRTIR became the first makeup product to achieve the No.1 ranking in the entire beauty category on Amazon.

A TIRTIR brand representative said, “The response in the U.S. market is good, and we are preparing to expand offline as well as online. Accurately understanding consumer needs and launching products accordingly has positively reflected on sales, and at this pace, we expect to quickly achieve the target sales of 300 billion KRW.”

Meanwhile, TIRTIR expanded its production capacity by 400% earlier this year to meet the rapidly increasing sales volume.