In an impressive shift within South Korea's beauty landscape, APR, a burgeoning entity in the beauty tech sector, has surged past Amorepacific, marking its position as the leading cosmetics company in terms of market capitalization. This remarkable achievement comes on the heels of APR surpassing LG Household & Health Care, further highlighting the challenges faced by the once-dominant "Big Two" of K-beauty, as a dynamic new player steadily captures the spotlight.
Data released by the Korea Exchange on the 6th revealed a significant jump in APR's stock prices, which soared by ₩27,200, a 14.52% increase, reaching ₩214,500 at 9:40 a.m. The stock briefly touched a record high of ₩220,000 following the announcement of unexpectedly strong earnings for the second quarter. At these valuations, APR's market capitalization is approximately ₩8.16 trillion.
Established in 2014, APR boasts a portfolio that includes beauty brands like Aprilskin and Forment, alongside MediCube, a burgeoning brand specializing in home beauty devices. A robust export strategy targeting the United States, Europe, and the Middle East has fueled its impressive financial performance. To bolster its global appeal, APR has recently enlisted IVE’s Jang Won-young as the new spokesperson for its MediCube Age-R line, succeeding actress Kim Hee-sun.
APR made its public debut on February 27, 2023, with shares opening at ₩317,500, reflecting a 27% uplift from its initial public offering price of ₩250,000. At that point, the company’s market valuation was ₩2.41 trillion.
On June 23 of this year, APR’s market valuation eclipsed that of LG Household & Health Care for the first time, securing the runner-up position in South Korea’s cosmetics sector. As of the preceding day, APR’s market capitalization stood at ₩7.13 trillion, compared to LG H&H’s ₩4.59 trillion, marking a lead of over ₩2.5 trillion. With its recent upward trajectory, APR has now surpassed Amorepacific as well, claiming the number one spot in the K-beauty industry a mere 17 months after its stock market entry.