Cosmetics Sales Slump in Korea; Aekyung Industry's Profit Falls by 24% Last Year
Creatrip Team
a year ago
Aekyung Industry, a lifestyle and beauty company in Korea, experienced a significant decline in operating profits last year, with a 24% drop attributed to increased marketing expenses as the company focused on expanding its global presence. Despite this, total sales saw a slight increase of 1.5% due to market diversification outside China, like in Japan. While domestic sales struggled, cosmetics sales increased slightly, but overall profits in the sector and in household goods decreased as marketing investments in new global markets rose. Aekyung plans to continue investing in both domestic and international markets, customizing products for global consumers and expanding customer interactions.
