- Confirms potential for growth through sales in Northern Europe, India, etc., where K-beauty has less market presence

- Effective growth strategies based on brand preferences by country, such as ‘Dear, Klairs,’ ‘By Wishtrend,’ etc

SEOUL, South Korea--(BUSINESS WIRE)--Global beauty company Wishcompany (CEO Park Soung-ho) announced that it achieved 72 billion won in sales, a 30% increase compared to the previous year, according to annual sales results in 2023.

Since its founding, Wishcompany achieved its most significant sales last year, thanks to notable growth in Northern Europe, India, and South Korea. Norway's sales rose 150% year-on-year and increased 95.3% in Sweden, confirming the potential for growth in regions with low K-Beauty market presence. Sales increased by 43.2% in India, a country characterized by rapid economic growth, and approximately 22% in Korea last year through the expansion of sales channels. As a result, Wishcompany has secured markets with over 1,000 online and offline channels at home and abroad in total, laying the groundwork for growth in the future.

Wishcompany's flagship brand, ‘Dear, Klairs,’ grew approximately 17% year-on-year. In particular, the brand's growth increased by 26% in Vietnam, a highly loyal market to products and brands centered on its toner. Wishcompany's second skincare brand, ‘By Wishtrend,’ globally launched as a high-functional skincare brand in 2013, recently launched the ‘Vitamin A-mazing Bakuchiol Night Cream,’ which contains bakuchiol, a plant-based retinol receiving the limelight, and recorded a significant growth rate of 56% compared to 2022.

Securing a foothold for sales in new countries such as Europe last year, Wishcompany focuses on promoting the excellence of K-Beauty skincare brands and their brand value and philosophy. Launching at Galeries Lafayette in France, known as the home of beauty, last year, Dear, Klairs plans to carry out brand activities in countries with more diverse cultures and environments, such as the Middle East and Africa, this year.

“I’m personally experiencing the expansion of K-Beauty's influence alongside K-Entertainment and K-Content,” said Park Soung-ho, CEO of Wishcompany. “We will find mega markets that have plenty of room for growth and expand them further in the future,” He added.

Meanwhile, Wishcompany has been awarded the ‘Export Tower’ hosted by the Korea International Trade Association for three consecutive years from 2020 to 2022. Wishcompany has over 8.8 million subscribers for its English-based content on platforms, such as YouTube, etc., maintaining 90% of overseas sales through content commerce services and showing steady growth in sales.

Contacts

WISHCOMPANY

Rosa Kim

Helena Kim

+82 70-4366-5365

[email protected]