Kyowon Group's 'Wells' Q1 Sales Reach 49.5 Billion KRW, Up 16% Year-on-Year

[Asia Economy Reporter Kim Daeseop] Kyowon Group announced on the 22nd that its health appliance brand Wells achieved sales of 49.5 billion KRW in the first quarter of this year, a 16% increase compared to the same period last year.

This performance increase was mainly due to diversifying the rental product lineup. They introduced more than 10 types of rental products including water purifiers, LED masks, clothing care devices, and air conditioners. Sales of rental products in the first quarter of this year exceeded 60,000 units, a 33.6% rise compared to the first quarter of last year.

In particular, sales of environmental appliances such as water purifiers, air purifiers, and bidets increased by more than 29% compared to the same period last year.

The shared rental service is also receiving positive responses from customers. The first shared rental product, the plant cultivator 'Wells Farm,' recorded the highest growth rate of 188% among Wells' sales products compared to the same period last year.

A Wells official from Kyowon Group said, "Following the group's strategy to expand its lifestyle culture business, Wells brand has continued its growth trend after achieving its highest sales of 215.4 billion KRW last year through customer-centered R&D investment and management innovation. We will focus on introducing solution-based customized services and expanding new sales networks to achieve this year's goal of securing 1 million rental accounts."

This content was produced with the assistance of AI translation services.