Amuse's Q2 Sales Surge Nearly 60%
Strong Performance in Japan and Newly Entered European Markets
Shinsegae International Beauty Division Sales Up 10%
Shinsegae International's cosmetics brand 'Amuse', which the company acquired with 100% ownership last year, has achieved record-breaking results, establishing itself as a key growth driver in the beauty division. Thanks to this, Shinsegae International's beauty division has posted all-time high sales for three consecutive quarters.
According to Shinsegae International on August 11, Amuse recorded sales of 19.9 billion KRW and operating profit of 2.4 billion KRW in the second quarter of this year. Compared to the same period last year, sales increased by 57.8% and operating profit by 167%. For the first half of this year, Amuse achieved sales of 32.2 billion KRW and operating profit of 3 billion KRW, representing year-on-year growth of 27% and 58%, respectively. These are the highest half-year results in the brand's history.
Driven by Amuse's strong growth, Shinsegae International's beauty performance is also soaring. Since Amuse's performance was consolidated as a subsidiary from the fourth quarter of last year, Shinsegae International's beauty division has set new record-high quarterly sales for three consecutive quarters. In the second quarter of this year, beauty division sales reached 115.6 billion KRW, up 9.8% from the same period last year. Compared to the previous record in the first quarter of this year (113.1 billion KRW), sales increased by 2.2%.
Amuse delivered strong results in both domestic and overseas markets in the second quarter. In Korea, sales more than doubled, mainly through multi-brand shop channels such as Olive Young. Globally, the brand performed well in Japan and newly entered countries, with overseas sales up 56.4% year-on-year.
In Japan, where Amuse records its highest sales outside Korea, the brand expanded its distribution network and launched products tailored to the local market, resulting in approximately 55% sales growth. Since the beginning of this year, Amuse has entered Japan's largest drugstore group, Matsumoto Kiyoshi Group, and is now available in about 3,000 variety shops and drugstores across Japan. In June, Amuse operated a standalone pop-up at "@COSME" in Shibuya, Tokyo to celebrate the launch of the Tanning Hello Kitty collaboration edition, which received an explosive response. The brand is also quickly establishing itself in newly entered markets in Europe and Southeast Asia.
In the second half of the year, Amuse plans to accelerate its global expansion into regions with high vegan demand and a rising K-beauty trend, such as the Middle East, Australia, Southeast Asia, Russia, and Mongolia. The company has already completed preparations for various requirements such as country-specific certifications, permits, and distribution networks, as well as the development of target products for each market. Amuse aims to establish a stable presence in new markets by focusing on makeup shades preferred by local customers, unique packaging, full vegan certification for all products (French EVE Vegan certification), a clean and healthy beauty image, and a reputation for leading the latest trends.
Additionally, Amuse will focus on its core products that have already been recognized in the global market, such as GelFit Tint, Dew Tint, and Ceramic Skin Perfector Cushion, to target local customers in their teens and twenties. Shinsegae International expects that if Amuse's growth continues in the second half of the year, the company will be able to achieve its target sales (mid-60 billion KRW). As of last year, Amuse's annual sales were 52 billion KRW.
An Amuse representative stated, "With Amuse's unique mood and product quality, we will lead K-beauty trends and spread beauty to consumers worldwide," adding, "This year, we plan to operate the brand according to a strategic plan focused on entering new markets and strengthening global brand awareness."
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