Bbia Achieves 57.6 Billion KRW in Sales Last Year... "Record Highest Sales"

Cosmetics indie brand company Bbia (CEO Park Kwangchun) announced its preliminary performance for 2024 on the 7th through a disclosure of 'more than 30% change in sales and profit structure.'

According to the performance disclosed by Bbia, sales for 2024 recorded 57.6 billion KRW, a 51% increase compared to the same period last year, and operating profit reached 5.6 billion KRW, growing 34% compared to the same period last year.

Fourth-quarter sales recorded 17.5 billion KRW, a 61% increase compared to the same period last year, and operating profit was 2.2 billion KRW, a 135% increase compared to the same period last year.

The background of last year's strong performance is attributed to increased domestic sales and strong sales in Japan.

Bbia is driving sales growth by continuously launching new product lines for each brand and actively engaging in online and offline marketing activities to attract consumer interest. In particular, Bbia's base makeup specialty brand 'About Tone's steady seller product, Blur Powder Pact, is stocked in more than 700 Olive Young stores, a major health & beauty store, and is strengthening the brand's market position based on positive consumer feedback in online reviews and SNS.

Moreover, Bbia is actively expanding its market share in global markets including Japan, achieving significant external growth. Especially in Japan, it continues a strong growth trend through various online and offline market strategies, and the newly launched lip tint product gained great popularity locally through a large popup store held at Tokyo @cosme last year. This event significantly enhanced Bbia product brand awareness and loyalty. Empowered by this, Bbia's subsidiary Bbia Japan is developing localized marketing strategies and steadily expanding its market share in Japan through locally tailored new product launches. This strategy is expected to have a positive impact on Bbia's expansion not only in Japan but also in other overseas markets.

On the other hand, net profit showed a decrease compared to the previous year. This is the result of one-time costs (merger costs) reflected due to last year's SPAC de-listing.

Park Kwangchun, CEO of Bbia, stated, “The company has succeeded in diversifying its sales structure, which was concentrated in specific countries, by expanding domestic sales through new product launches and increasing market share in Japan,” and added, “The company will continue to focus on sustainable growth and profitability improvement through optimizing the brand portfolio and expanding global market sales.”