Lock&Lock Q1 Sales 124.6 Billion Won... "Record High Performance"

Sales of 124.6 billion KRW, Operating Profit of 6.7 billion KRW... Up 24.5% and 740.2% YoY, Respectively

[Asia Economy Reporter Kim Heeyoon] Household goods company Lock&Lock announced on the 26th that its consolidated sales in the first quarter of this year reached 124.6 billion KRW, marking a 24.5% increase compared to the same period last year and recording the highest first-quarter sales ever.

According to Lock&Lock, operating profit was 6.7 billion KRW, a 740.2% increase compared to the first quarter of last year. Lock&Lock explained that the popularity of innovative small kitchen appliances such as vacuum rice containers and steam air fryers contributed to the strong performance.

This figure is also 6.4% higher compared to the first quarter of 2019, before the COVID-19 pandemic. Additionally, the company achieved 41.2% growth by proactively responding to major and emerging platforms in its strategic online channels. Sales of small kitchen appliances increased by 122.3%, and sales of beverage containers such as indoor customized tumblers rose by 46.4%.

Furthermore, overseas sales showed growth rates of 27.3% in China and 27.2% in Vietnam. Domestic sales increased by 22.3%.

Lee Jungmin, Executive Director of Lock&Lock’s Management Planning Division, said, "Despite the impact of COVID-19, we recorded sales in the 500 billion KRW range last year through a strategic category and channel portfolio, and have continued the growth trend. Based on research and development in new growth sectors, strengthening design and marketing organizational capabilities, and expanding the Southeast Asian market, clear signs of profitability improvement are evident this year."

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