CheongKwanJang's "Gidalim Chimhyang" Surpasses 20 Billion Won in Cumulative Sales

Surpasses 20 Billion Won in 1 Year and 8 Months
Sales Jump 3.7 Times During Chuseok Holiday

CheongKwanJang announced on January 19 that its agarwood specialty brand, "Gidalim Chimhyang," has surpassed cumulative sales of 20 billion won just 1 year and 8 months after its launch, establishing itself as CheongKwanJang's next-generation flagship brand.

After its launch at the end of April last year, "Gidalim Chimhyang" achieved cumulative sales of 10 billion won within just 13 months, and then added another 10 billion won in just five months, reaching a total of 20 billion won in cumulative sales. The pure agarwood extract product "Gidalim Chimhyangaek" recorded 8.1 billion won in sales, while the pill-type product "Gidalim Chimhyanghwan," which combines agarwood with a plant blend concentrate including Rehmannia, Liriope, Amomum, Lingzhi, Angelica, and Atractylodes, drove sales with 9 billion won in revenue.

CheongKwanJang Gidalim Chimhyanghwan. CheongKwanJang

In particular, sales during last year's Chuseok holiday season increased 3.7 times compared to the previous year, making it a highly popular holiday gift. The repurchase rate also rose by 33% year-on-year, demonstrating stable growth in loyal customers.

Agarwood is a resinous substance secreted by the agarwood tree to protect itself, and it takes about 20 years for the resin to form, making it a rare ingredient. Alongside ambergris from sperm whales and musk from musk deer, it is considered one of the world's top three fragrances. Recently, its use has expanded beyond its traditional image to include pill and extract products, making it a popular health ingredient not only among middle-aged and older consumers but also among the 20s to 40s demographic interested in mental wellness.

Notably, "Gidalim Chimhyang" uses the "Aquilaria malaccensis" species, which is listed in the Korea Food and Drug Administration's Food Code. CheongKwanJang employs Korea's first genetic analysis technology to identify the agarwood species, and has obtained certification from the Indonesian government agency (BKSDA), verifying the origin and provenance of the raw materials.

Following the success of its deer antler brand "Cheonnok," CheongKwanJang has successfully established "Gidalim Chimhyang" in the market, achieving results in expanding its business portfolio beyond red ginseng. "Gidalim Chimhyang" is now the second CheongKwanJang brand, after "Cheonnok," to surpass 20 billion won in sales with a non-red ginseng ingredient in less than two years since its launch.

A representative from KGC Ginseng Corporation stated, "Gidalim Chimhyang is a product completed through CheongKwanJang's persistence and strict quality standards, earning high trust from consumers. We will continue to focus on research and development of new products utilizing innovative functionalities and a variety of high-quality new ingredients."