[IPO Spotlight] 'KOSDAQ Transfer Listing' Innojin, The Secret to Sales Growth with Hair Loss Products

[Asia Economy Reporter Jang Hyowon] Innojin, a KONEX-listed company, has decided to transfer its listing to KOSDAQ. Innojin, which sells hair loss and scalp care brand 'Volvik' products, has maintained annual sales growth over the past three years.

According to the Financial Supervisory Service's electronic disclosure on the 5th, Innojin announced on the 2nd that it has decided to file a preliminary review for transferring its listing to the KOSDAQ market in September. The reason for the transfer is "to enhance corporate value and facilitate smooth fundraising."

Innojin is a bio-venture company that manufactures specialized cosmeceuticals in the fields of hair loss, skin diseases, and regeneration, as well as medical devices including an automatic hair loss diagnosis and prognosis prediction system.

Its main products include Sebo Shampoo Plus from the hair loss and scalp specialist brand 'Volvik' and Timp C Shield Ampoule from the skin brand 'Reselby.' As of the end of last year, the sales proportion was 79.39% for hair loss product groups including the Volvik brand such as shampoos and hair tonics, and 20.61% for skin beauty product groups.

Innojin's sales last year were 9.4 billion KRW, and operating profit was 2.4 billion KRW, increasing by 30.7% and 113.2% respectively compared to the previous year. The operating profit margin stood at about 25.6%. Sales have shown an increasing trend every year, from 5.6 billion KRW in 2019 to 7.2 billion KRW in 2020, and 9.4 billion KRW last year.

Innojin is growing based on a solid sales network targeting hospitals and clinics. It has provided total solutions developed with its own technology, including pharmaceuticals, home care, medical devices, and health functional foods, to over 4,400 hospitals and clinics nationwide. As of last year, 46% of total sales channels were domestic hospitals and clinics.

Innojin has a closed online shopping mall system called 'Volvik Mall' for hospital and clinic members to place product orders. By activating these solution product groups, it has secured channels that can consistently generate orders. Additionally, products recommended by hospitals and clinics can enhance trustworthiness among general consumers.

Currently, Innojin is pioneering new channels such as skin care centers, Korean medicine clinics, and esthetics. To activate online channels, it is running advertisements on its own brand YouTube channel and SNS platforms.

This year, Innojin is making efforts to expand its presence not only in the hair loss market but also in the skin market by renewing products under the skin beauty brand 'Dr. Medition.'

It is also targeting overseas markets. Innojin is expanding export transactions and signing distribution contracts with new buyers in the United Arab Emirates (UAE), Indonesia, Japan, and other countries. Additionally, it actively discovers new buyers by participating in international cosmetics exhibitions and conferences such as 'Bologna Cosmoprof' and 'Paris IMCAS.'

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