Ceragem Breaks Record Again with Highest Sales Ever "750.1 Billion Won"

Earnings Announcement on the 10th, Operating Profit Halved

Seragem, the leading healthcare company in Korea, has recorded its highest-ever sales. On the 10th, Seragem announced that its consolidated sales last year reached 750.1 billion KRW, a 12.4% increase compared to the previous year. This surpassed the record sales of 604.8 billion KRW set in 2021.

Regarding this performance, Seragem attributes its success to active experiential marketing, which proved effective despite the overall downturn in the home appliance market. The flagship product, Master V6, launched in December 2021, has become a steady seller with cumulative sales exceeding 600 billion KRW. However, operating profit decreased by 45.2% to 50.6 billion KRW from 92.5 billion KRW the previous year, due to weakened consumer sentiment in the second half caused by rising raw material costs, labor expenses, and interest rates.

Global sales amounted to 145.2 billion KRW, down 7.5% year-on-year. The biggest impact came from COVID-19 lockdowns in China, the largest market. Fortunately, sales in the United States grew by 67.5%, largely offsetting the decline in China, thanks to the expansion of directly operated stores and new product launches. Performance also improved in Southeast Asia and India through expanded experiential marketing. Riding the wave of this year’s reopening, Seragem plans to strengthen overseas market development in China, Vietnam, India, and other countries.

Domestically, Seragem plans to further enhance experiential marketing by promoting the new product, Master V7 Meditech. The V7 received over 1,700 pre-orders recently, and its first home shopping broadcast recorded approximately 4,700 calls, the highest ever for a single broadcast of a spinal medical device. Offline hubs such as Wellcafe will also be actively utilized. Customer value will be enhanced through the advancement of the WellLife membership service, which has 800,000 members.

A Seragem representative stated, “Despite the challenging environment caused by rising interest rates and weakened consumer sentiment, our growth was possible thanks to efforts to advance our services and strong customer trust based on domestic production quality.” They added, “This year, we will further solidify our position as a leading company in the home healthcare appliance market by launching the new Master V7.”

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