Hugel Celebrates Record 2024 Earnings and Sets Sights on Global Expansion
South Korea-based Hugel has announced its strongest-ever annual performance in 2024, with KRW373.0 billion in net sales, KRW166.3 billion in operating profit, and KRW142.4 billion in net income, rising by 16.7%, 41.2%, and 45.8% year over year, respectively. The post Hugel Celebrates Record 2024 Earnings and Sets Sights on Global Expansion appeared first on Global Cosmetics News.
THE WHAT? South Korea-based Hugel has announced its strongest-ever annual performance in 2024, with KRW373.0 billion in net sales, KRW166.3 billion in operating profit, and KRW142.4 billion in net income, rising by 16.7%, 41.2%, and 45.8% year over year, respectively.
THE DETAILS
- Hugel’s botulinum toxin (known globally as Letybo) generated KRW203.2 billion in net sales, aided by strong Asia-Pacific markets and new shipments to the US.
- Its HA fillers (branded as Revolax overseas) pulled in KRW127.6 billion, supported by stable sales in China and increased presence in Europe and MENA.
- The WELLAGE and BYRYZN BR cosmetics lines soared, seeing 37.8% on-year growth to KRW36.9 billion in net sales, buoyed by new product launches and brand promotions.
- Looking ahead to 2025, Hugel will prioritize its US toxin launch and further expansion across the Gulf Cooperation Council (GCC) region, aiming for 10% market share in the US within three years and a 30% share in key MENA markets.
THE WHY? Consumer demand for medical aesthetics and premium skincare remains strong, particularly in emerging markets such as the Middle East. Hugel’s focus on dermatology-led innovation, strategic partnerships, and targeted marketing campaigns positions it to capture a larger slice of the global beauty and personal care sector.
The post Hugel Celebrates Record 2024 Earnings and Sets Sights on Global Expansion appeared first on Global Cosmetics News.
