Coloray, Q1 Sales Reach 6.9 Billion KRW... 16% Increase YoY

Coloray, a Chinese company specializing in cosmetics and industrial pearl luster pigments, announced on the 30th that its consolidated sales for the first quarter reached 6.92925 billion KRW. This represents a 16% increase compared to the same period last year.

A company representative stated, "Despite the overall downturn in the cosmetics industry due to COVID-19, we created a breakthrough through sales of industrial products, leading to increased sales volume and revenue growth. However, the operating profit margin for industrial products is somewhat lower than that of pearl luster pigments for cosmetics, and due to discount promotions, operating profit decreased by 55% compared to the same period last year."

He added, "With the transition to the post-COVID era, we expect the operating profit and net income of pearl products for cosmetics to improve due to recovery in the cosmetics market and increased demand. Additionally, industrial pearl products will continue to drive steady sales growth through consistent business efforts."

Furthermore, Coloray Korea saw a significant increase in sales compared to the same period last year. Its main customer base consists of Korea's leading OEM/ODM companies. Jang Ok-dong, CEO of Coloray Korea, said, "As demand for K-beauty is rapidly increasing, we are actively conducting sales activities for our entry into the Korean market."

Meanwhile, Coloray Korea plans to participate in 'In-Cosmetics Korea,' which will be held at COEX in July on the largest scale ever.

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