Polaris Uno, 67 Billion KRW in Sales Last Year... 37% Increase YoY

[Asia Economy Reporter Hyungsoo Park] Polaris Uno, a synthetic fiber specialist company, announced on the 4th that it achieved sales of 67 billion KRW and operating profit of 5.8 billion KRW on a consolidated basis last year. This represents increases of 37% and 11%, respectively, compared to the previous year. During the same period, net profit rose 174% year-on-year to 4.8 billion KRW.

Polaris Uno's sales increased as its main product, braided yarn, saw growing demand primarily in Africa. Braided yarn is used for wigs braided into hair, mainly by Black women for beauty purposes.

A Polaris Uno official stated, "Despite worsening external conditions such as a sharp rise in raw material prices and increased logistics costs, we succeeded in reducing costs through our production plant in the Republic of South Africa." He added, "Operating profit also increased due to exchange rate appreciation and sales growth."

He continued, "We will expand our market share overseas in regions such as Africa, the United States, and Europe by quickly adapting to trends," emphasizing, "We will continue to grow through expanding product lines utilizing our proprietary technologies, such as eco-friendly wig yarns, and developing new products."

In addition to existing wig products, Polaris Uno also sells various products such as brushes and artificial eyelashes. The company is also conducting research and development for new products, including hair loss yarn optimized for hair quality and scalp condition.

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