For the first time since its founding, Hugel has exceeded 100 billion KRW in quarterly revenue and 50 billion KRW in quarterly operating profit.
On the 6th, Hugel, a total medical aesthetics company, announced that its consolidated Q3 revenue rose 23.9% year-over-year to 105.1 billion KRW, with operating profit growing 54.5% to 53.4 billion KRW. This marks the first time since its establishment in 2001 that quarterly revenue has surpassed 100 billion KRW, setting a record high in operating profit as well.
Hugel attributed its strong performance to solid growth in global markets. By product category, the botulinum toxin product Botulax generated 64.7 billion KRW in revenue, up around 41% year-over-year. Notably, shipments to the U.S. in July and September, along with increased sales in the Asia-Pacific region, led to approximately 73% growth in the global market alone. In the domestic toxin market, sales also rose by more than 5% during the same period. Hugel’s HA fillers performed well, with European sales up around 7% and contributing to 29.9 billion KRW in total revenue.
In the cosmetics sector, including Wellage and By Reizen BR, revenue also grew 37.4%, demonstrating continued strength. The derma-cosmetic brand Wellage launched a new line, “Hyper Peptide,” and the high-end brand By Reizen BR has been expanding consumer engagement since its launch in April, according to the company.
Hugel plans to focus on expanding in both domestic and international markets in Q4. In the U.S., it intends to collaborate with local partner Benev to officially launch Botulax (exported under the name Letybo) by the end of the year. The company is committed to ensuring a stable market entry and aims to capture approximately 10% market share within three years through aggressive sales and marketing efforts.
A Hugel spokesperson stated, “In Q3, our flagship products, toxins and fillers, performed exceptionally well in global markets, allowing us to surpass 100 billion KRW in revenue and 50 billion KRW in operating profit, setting another quarterly record. In Q4, we will focus on the successful launch of our toxin product in the U.S. and strengthening our position in the 70 countries where Hugel operates, including Asia-Pacific and Europe.”
Source: kormedi.com
