Handsome's revenue for the second quarter of this year was 338.1 billion won, and its operating profit was 700 million won, marking a decrease of 1.1% in revenue and 82% in operating profit compared to the same period last year.
A representative from Handsome said, "The decline in revenue was due to the ongoing contraction in fashion consumption," noting, "While offline sales fell 2.5% compared to the same period last year, online sales increased by 3.4% during the same period."
Currently, the proportion of Handsome's online sales is 21.9%, which is about 1% higher than last year. Reflecting the expansion of online sales, the company plans to adapt to changes in the market by brand.
Handsome operates a total of 41 brands, including 15 fashion brands (such as Time, System, Mine, The Cashmere) and 22 imported and edited brands (such as Lanvin, Bally, Totem Anyona), as well as 3 beauty brands (such as Oera) and 1 lifestyle brand (Nook the Cashmere).
Handsome announced its 'Vision 2030' and is focusing on expanding the overseas markets for 'Time' and 'System', along with extending its overseas fashion portfolio and pioneering in the beauty and lifestyle sectors.
Last June, Handsome opened a flagship store for System in the Marais district of Paris, and following System, the global line 'Time Paris' is also participating in Paris Fashion Week, working to enhance its global competitiveness.
From 2022 to 2024, Handsome plans to launch 10 new overseas brands in the domestic market, including 'Houragasie', 'Totem', 'Moose Knuckle', and 'Aspesi'.
In the lifestyle sector, 'Liquid Perfume Bar' increased consumer engagement by launching at Olive Young's Seoul Seongsu store last November, and the lifestyle brand 'Nook the Cashmere' also opened its official store last March.
Through these efforts, Handsome aims to achieve an annual revenue of 2 trillion won by 2030.