DYD, Q1 Sales Reach 6.2 Billion KRW... 152% Increase Year-on-Year

DYD showed significant sales growth this year. DYD announced on the 12th that its sales in the first quarter of this year reached 6.2 billion KRW, an increase of 152.39% compared to the same period last year.

During the same period, gross profit recorded 2.3 billion KRW, which is a 116.23% increase compared to the same period last year. However, operating profit posted an operating loss of 1.3 billion KRW due to increased financial costs and selling and administrative expenses.

According to DYD, despite the challenging business environment caused by the worsening global economic conditions, strong sales in the cosmetics sector drove the sales growth.

Both online and offline sales, as well as overseas sales, continued to perform well. Cosmetics sector sales increased by 53% offline, 11% online, and 20% in overseas sales compared to the previous quarter. Compared to the same period last year, offline sales rose 36%, and online sales increased by 61%.

A company official stated, “Despite restrictions on the entry of foreign tourists, overseas online sales in countries such as Japan, China, Vietnam, Thailand, and Malaysia increased by an impressive 75% compared to the same period last year,” adding, “With the increase in foreign tourist arrivals, offline sales volume is also expected to rise.”

In particular, the growth of the flagship brand LILYBYRED stands out. Sales volume of LILYBYRED products surged 139% compared to the same period last year. During the same period, sales volume of the skincare brand HATHERINE increased by 26%.

A company representative said, “With the endemic phase leading to the activation of face-to-face classes and various gatherings, demand for color cosmetics such as eye makeup and lip categories has greatly increased,” and added, “Supply could not keep up with demand, so we generally increased product production.”

According to DYD, product production increased by 40% compared to the previous quarter and 50% compared to the same period last year, and they plan to launch more than 20 new products in total.

A company official stated, “In addition to expanding the product line, we plan to carry out a renewal reflecting recent color trends,” and added, “We will continuously secure competitiveness by strengthening product quality and expanding sales channels and marketing.”

They continued, “Sales this year are expected to increase by about 50% compared to last year,” and added, “We will build a stable business structure through strengthening our core business and diversifying sales through new businesses.”

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