[Click eStock] "VT, Global Market Growth Accelerates"

On the 12th, Samsung Securities analyzed that VT is showing visible results in the early stages of global market expansion, increasing its growth potential.

Lee Gayoung, a researcher at Samsung Securities, stated in a report on the same day, “VT has secured visibility for global sales growth by achieving successful initial results in major markets such as the United States and Southeast Asia, based on flagship products with clear brand equity.”

VT has delivered notable early achievements in the U.S. and Southeast Asian markets. In the U.S., its flagship product sold out within a month of its first delivery on Costco’s online platform, with a large-scale restock scheduled between December 2024 and January 2025. Offline deliveries to Costco stores will begin in the second quarter of 2025, and sales on Ulta’s online and offline channels are expected to ramp up from early and mid-2025, respectively.

Successful online sales in Southeast Asia are also expanding into offline distribution channels. VT has entered Watsons and Guardian stores in Malaysia and Singapore, and plans to start sales in Indonesia from mid-2025 after completing a B2B vendor change. In Thailand, VT plans to target the market through participation in live commerce marketing events in the first half of next year.

Researcher Lee explained, “The initial response in the U.S. and Southeast Asian markets is positive, and growth momentum has been secured through strengthened cooperation with major distribution channels.”

VT is actively expanding sales channels in Europe, the Middle East, and China as well. In Europe, sales will officially begin across the continent in the first half of 2025, starting with Finland and Sweden. In the Middle East, VT is collaborating with Watsons and Russia’s largest MBS channel, Gold Apple. In China, the flagship product ‘Lidleshot’ is expected to receive hygiene approval in January 2025, with sales starting in the first quarter of the same year.

VT continues its growth trend in domestic and Japanese markets. In Japan, it has successfully targeted middle-aged consumers through offline entry into Costco and expansion of home shopping channels, and is continuing to expand offline channels considering the market’s high online sales ratio. Domestically, VT is diversifying sales channels through discussions on exclusive Olive Young displays, as well as home shopping and department stores.

In the third quarter of this year, VT increased its production capacity by 50% compared to the previous quarter and established a flexible system capable of responding through outsourced production and night shifts if necessary.

Additionally, the overhang issue caused by the sale of shares by the largest shareholder has been resolved. Researcher Lee said, “The sale of shares for the largest shareholder’s personal debt repayment has been completed, and some shares were purchased by affiliates, further strengthening management stability,” adding, “Although VT is still in the early stages of global market entry, it shows high growth potential through cooperation with major distribution channels, making it a stock worthy of market attention amid concerns over slowing export growth.”