[Click eStock] "Manyeogongjang, Growth Expected with US Expansion"

ResearchAlum analyzed on the 14th that Manyeogongjang is likely to improve its performance in the fourth quarter of this year, coinciding with the U.S. consumer season. Along with a 'positive' stock price outlook for Manyeogongjang, a target stock price of 29,000 won was suggested.

Choi Seonghwan, a researcher at ResearchAlum, explained, "Manyeogongjang successfully pioneered overseas sales channels by entering the Japanese market in 2017," adding, "It gained popularity among consumers through Japan's leading e-commerce platforms, Rakuten and Amazon Japan, with products such as cleansing oils and serums."

He continued, "After entering Japan, it targeted the Chinese market," and added, "It led the K-beauty trend by utilizing major Chinese online platforms like Tmall and Xiaohongshu, as well as social media."

He emphasized, "The successful experiences in the Japanese and Chinese markets have laid the foundation for Manyeogongjang's rapid growth in the U.S. market," and stated, "This year, it entered a new growth phase through offline entry into Costco in the U.S. and both online and offline entry into Ulta Beauty."

Researcher Choi analyzed, "In the second quarter of this year, it achieved its highest quarterly performance with sales of 36.6 billion won and operating profit of 8.3 billion won," and noted, "Sales to the U.S. increased from 2.1 billion won in the first quarter to 5.4 billion won in the second quarter."