APR, an emerging powerhouse in the realm of beauty technology within South Korea, has successfully surpassed Amorepacific, establishing itself as the nation's foremost cosmetics entity in terms of market capitalization. This remarkable feat comes on the heels of its recent overtaking of LG Household & Health Care, highlighting the challenges faced by the once-dominant "Big Two" of Korean beauty as a formidable new player gains momentum.
As reported by the Korea Exchange on the 6th of the month, APR's stock experienced a substantial increase, rising by ₩27,200, equivalent to 14.52%, reaching ₩214,500 by 9:40 a.m. This surge briefly propelled the stock to an unprecedented peak of ₩220,000, following the announcement of unexpectedly strong earnings for the second quarter. Currently, APR's market capitalization hovers around an impressive ₩8.16 trillion.
Established in 2014, APR boasts ownership of several beauty brands, including Aprilskin and Forment, as well as MediCube, a brand of home beauty devices experiencing rapid growth. The company's remarkable earnings trajectory has been fueled by strong export performance in the United States, Europe, and the Middle East. To further bolster its international expansion efforts, APR has recently enlisted IVE’s Jang Won-young as the new ambassador for its MediCube Age-R brand, succeeding the previous face, actress Kim Hee-sun.
APR made its public debut on the stock market on February 27, 2023, with shares opening at ₩317,500, reflecting a 27% increase over its initial public offering price of ₩250,000. At that point, the company's market capitalization was valued at ₩2.41 trillion.
On June 23 of the current year, APR's market valuation eclipsed that of LG Household & Health Care for the first time, securing the second position in South Korea's cosmetics industry hierarchy. As of the preceding day, APR's market capitalization was recorded at ₩7.13 trillion, surpassing LG H&H's ₩4.59 trillion by a margin exceeding ₩2.5 trillion. With its latest upward trajectory, APR has now overtaken Amorepacific as well, clinching the leading position in the K-beauty sector just 17 months after its stock market debut.