FSN "Boosters, 3Q Cumulative Sales 63.3 Billion KRW & Operating Profit 7.6 Billion KRW... Record High Performance"

FSN announced on the 24th that its subsidiary Boosters, responsible for the brand co-growth business, achieved cumulative consolidated sales of 63.3 billion KRW and operating profit of 7.6 billion KRW for the third quarter of 2024. This represents growth of 132% and 273%, respectively, compared to the same period last year. In just three quarters, it surpassed last year's record-breaking highest annual sales.

Boosters is an accelerating company that practically supports the growth of partner brands in advertising, marketing, and sales. It goes beyond simple advertising agency or investment businesses by collaborating with small and medium-sized enterprises (SMEs) and startups for mutual growth.

Operating under a profit-sharing partnership model that shares marketing costs and profits based on the company’s marketing performance, as well as an equity investment model that provides financial and strategic investments to brands with high growth potential, Boosters actively collaborates to reduce the marketing burden on SMEs and startups and help them grow quickly and solidly through professional advertising marketing. Boosters is expanding its partner brands mainly in the Life & Healthcare category, which has high growth potential in line with market trends such as increased interest in climate change and health.

Since officially starting its business in 2020, Boosters has maintained steady sales growth and is achieving remarkable growth again this year. Starting with surpassing 10 billion KRW in monthly sales for the first time in July, it recorded consecutive record-high monthly sales in August (13.7 billion KRW) and September (14.2 billion KRW). This year, it has achieved month-over-month sales growth for nine consecutive months. During this period, operating profit has also shown monthly growth, already exceeding last year’s sales and operating profit, and it is expected to achieve the highest sales and operating profit in its history.

Among the seven brands, three platform partners, and subsidiaries collaborating with Boosters, shoe and food & beverage brands are leading remarkable growth. The hydration beverage brand, which has been working with Boosters for a long time, achieved its highest monthly sales ever in August due to record-breaking heatwaves this year, highlighting its superior hydration rate and functionality compared to other beverages. Based on this, it is expanding into various health functional products.

The partner shoe brand, known for comfortable domestic footwear, is also showing explosive growth. Globally, comfortable shoes such as Hoka and On Running are trending, and this partner brand is rapidly increasing loyal customers based on functionality optimized for walking. Following the highest sales achieved on Naver Brand Day, its first home shopping broadcast with CJ OnStyle sold out all inventory within 34 minutes (out of a 60-minute broadcast), leading to an early end of the show and continued success. This year’s sales have increased by more than 400% compared to the same period last year, with the highest monthly sales record broken again in September, and a goal to surpass 10 billion KRW in monthly sales in October. Starting next year, it plans to actively target overseas markets beginning with Japan and North America.

This year, Boosters has continued its growth trend with nine consecutive months of month-over-month sales increases and achieving the highest annual sales in just three quarters. FSN expects to easily achieve over 100 billion KRW in annual sales from the brand accelerating sector alone this year. With the partner shoe brand entering its peak season and new partnerships such as the athleisure brand 'Frontline' showing explosive growth potential, it is analyzed that strong performance can be maintained in the fourth quarter as well.

Seo Jeonggyo, CEO of Boosters, said, "Thanks to the trust and active collaboration of highly competitive partners in FSN’s Boosters, we were able to achieve the highest annual sales in history in just three quarters. With several events planned to continue the growth trend in the fourth quarter, we expect to exceed 100 billion KRW in annual sales in the brand sector alone."

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