APR's representative skincare brand Medicube is making its presence known as it is prominently displayed on the homepage following its first entry into Ulta Beauty, a specialized beauty retail channel dubbed the 'American version of Olive Young.' APR accounts for about 30% of its total sales in the U.S. and is steadily increasing its contact points with local consumers through various offline events.
According to related industries on the 27th, Ulta Beauty recently began selling 20 different Medicube products through its online and offline channels. At the same time, Ulta Beauty introduced Medicube with the phrase 'Medicube has arrived' on the central banner of its homepage, encouraging customers to 'explore K-Beauty skincare dedicated to real results.'
Ulta Beauty is a beauty specializing platform that operates over 1,400 offline stores and online shopping malls across the United States. It holds more than 30% market share and maintains its position as the number one retailer.
Ulta Beauty features over 600 brands, offering nearly 30,000 products. Unlike Sephora, a beauty specialty store of the Louis Vuitton Moët Hennessy (LVMH) group that focuses on premium brands, Ulta Beauty handles a diverse range from mid-range to high-end brands, earning it the nickname of the American version of Olive Young.
Ulta Beauty only allows certain brands that have verified sales performance from its online store to enter offline locations. It then selects only those brands that perform well for expansion to all locations in the U.S. APR signed a supply contract with Ulta Beauty last May, unusually agreeing to supply products not only to online but also to all offline locations from the initial shipment.
APR shipped products to the U.S. after completing the initial order shipment by June. Ulta Beauty received the products earlier this month, completed inspections, and then began sales across stores nationwide.
APR is increasing consumer touchpoints through various offline events centered around Medicube. On the 28th (local time), a pop-up event will take place at an Ulta Beauty store in Los Angeles to celebrate the entry into Ulta Beauty. Sir John, who was appointed as Medicube's creative director and ambassador in March, is expected to attend and introduce the products. Sir John is a famous makeup artist known for collaborations with Beyoncé, Zendaya, and Serena Williams, and is involved in Medicube's marketing and product development.
APR also participated in the world's largest electronics and IT exhibition CES 2025 earlier this year to showcase its beauty device products. In March and April, it hosted offline events in pop-up store formats in SoHo, New York, and LA, attracting thousands of visitors.
The U.S. is emerging as a key market responsible for about one-third of APR's sales. In the second quarter of this year, APR recorded sales of 327.7 billion won and operating profit of 84.6 billion won, both of which increased by 111% and 201.9%, respectively, compared to the same period last year. Among these, U.S. sales accounted for 29% (96.2 billion won), surpassing the domestic sales proportion (22%). The U.S. sales share, which was 16% in the second quarter of last year, has nearly doubled in just one year.
APR earned over 30 billion won in sales during the Amazon 'Prime Day' event held from the 8th to 11th of last month. This figure is six times higher than the previous year's event. The Medicube brand ranked first in beauty sector search terms during this event, and its flagship product, 'Zero Pore Pad,' was introduced as the best-selling product across the beauty and personal care sectors.
Jo So-jeong, a researcher at Kiwoom Securities, said, 'Medicube is gaining momentum in channel expansion based on product competitiveness, and its position is expected to be gradually strengthened,' adding that 'there is sufficient potential to leap to a global mega brand.'