Leather specialist company Unichem announced on the 12th that with the new Palisade recording about 50,000 pre-orders and achieving great success, an increase in sales and improvement in profitability is expected starting this year.
Unichem is proactively responding to the demand for new materials in the domestic and international fashion and automotive markets. The company is jointly developing various eco-friendly leathers through partnerships and order agreements with major domestic leather material distributors and several startups. They have signed advance development contracts with existing customers and are also exploring collaborations with global brands in the European and North American fashion industries.
According to the preliminary performance results for 2024, Unichem recorded an operating loss. This was a temporary phenomenon caused by the separation of Unione’s fashion leather business and a decrease in automotive leather orders in 2023. The company explained that it has improved its debt ratio to around 50% and focused on large-scale orders, with the resulting achievements beginning to bear fruit since early this year.
The company’s management stated, "The effects of increased new orders realized from the end of 2024, quality improvements, business diversification, and profit and loss structure improvements will be reflected starting this year," adding, "The outlook for future sales and profits is bright."
They continued, "By demonstrating tangible results in expanding orders and developing new materials, we have established a framework for mid- to long-term growth both internally and externally," emphasizing, "We are vigorously taking the first steps toward a second leap forward."
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