Audin Futures Turns Profitable in Q1, Sales Up 45.6% Year-on-Year

Audin Futures, a cosmetics specialist company led by CEO Choi Youngwook, announced on the 15th that it recorded consolidated sales of approximately 10.4 billion KRW and an operating profit of about 40 million KRW for the first quarter of this year. This represents a sales increase of around 45.6% compared to the same period last year, and marks a turnaround to profitability in terms of operating profit.

The strong performance in the first quarter was driven by balanced growth in both the company's own brand (Neogen) business and its ODM (Original Development Manufacturing) business. Audin Futures reported that brand sales accounted for about 60% of total sales, with ODM sales making up the remaining 40%. Compared to the same period last year, brand sales grew by 30% and ODM sales by 70%, resulting in significant improvement in both segments and contributing to the return to profitability.

The brand (Neogen) business benefited from strengthened branding, product renewals, new product launches, digital marketing through online platforms, and the appointment of S.Coups, the leader of Seventeen, as a model. These efforts have been fully reflected in the results, driving business growth. For the ODM business, the acquisition of numerous new clients and increased demand for new products contributed significantly to first-quarter growth.

A representative from Audin Futures stated, "In the first quarter of this year, we achieved balanced results across both business divisions, securing a stable foundation for growth. We will continue to pursue brand advancement and diversification of the ODM pipeline, aiming for ongoing profitability improvement and enhanced global competitiveness throughout the year."

The representative also said, "The brand (Neogen) business has already entered over 40 countries worldwide. This year, we are particularly focused on diversifying export channels and expanding our global distribution network by targeting countries we have not yet entered. In this context, we plan to participate in exhibitions in the Philippines and buyer meetings in Thailand in May and June, respectively. We will also take part in the K-Beauty Festa in Kazakhstan, which is gaining attention as a new consumer market due to the Russia-Ukraine war, actively seeking new export opportunities in Eastern Europe and Central Asia."

Additionally, Audin Futures is pursuing a distribution channel expansion strategy in the domestic market, targeting value-conscious consumers in addition to its existing premium channel, Olive Young. Recently, the company secured initial orders for Neogen products at 3,000 GS25 convenience stores nationwide. This is expected to expand the customer base by entering the low-priced market, establish a stable foundation for domestic sales, and simultaneously enhance brand awareness and accessibility.

In particular, for the brand (Neogen) division, the company is aiming to increase sales and brand recognition in the US market in the second half of this year. It is reportedly pursuing a distribution agreement with the largest local beauty retail distributor, and is preparing US-specific marketing content and in-store experience-focused sales strategies. By organically linking offline distribution with its own D2C channel, the company plans to boost brand loyalty and strengthen its presence in the US. Furthermore, English content assets optimized for the US market will be expanded to major global markets such as Europe and Southeast Asia, evolving into a content-based export model.

A company representative added, "For the ODM division, we have recently succeeded in signing new contracts with local brands in the US and Russia, and major buyers from Europe have visited our headquarters, raising expectations for global client expansion. Based on our diversified product portfolio and flexible development capabilities, we expect to create significant synergy with the brand business and greatly improve profitability over the mid- to long-term."