Chief Executive Officer Kim Byoung-hoon of APR said, "If the past popularity of K-beauty Kiin freshness such as unique textures and ingredients, today it is evolving into a realm of trust and verification that combines science and technology." It is the first time a K-beauty corporations chief executive officer (CEO) has taken the stage as a speaker at this forum.
According to APR on the 28th, Kim attended the Business of Beauty (BoB) Global Forum as a speaker at Stanly Ranch in Napa Valley, California, from the 24th to the 26th (local time). Hosted by Business of Fashion, this forum brings together about 150 people from around the world each year, including corporations executives, investors, and retailers in distribution, to discuss industry trends and future strategies.
In a conversation under the theme "The secret to K-beauty's renewed leap," Kim said K-beauty has settled onto a sustainable growth trajectory rather than being a temporary phenomenon. He then cited APR's beauty-tech infrastructure based on rich customer data as its core competitive edge.
Currently, APR has grown by investing in research and development (R&D) while operating the derma-cosmetic brand "Medicube" and the beauty device brand "Medicube Age-R," among others. As of January, the global cumulative sales of the flagship Age-R device surpassed 6 million units. About 1 million additional units were sold in roughly one quarter in September last year. Kim said, "We are not diversifying brands just for simple external expansion," adding, "It is important to generate synergy while firmly maintaining distinctive identities for each brand."
Kim presented "the popularization of longevity (healthy aging)" as a keyword for the future beauty industry. He said, "Longevity is not merely living long, but a matter of quality of life that keeps optimal condition and confidence for a long time," and added, "Lowering entry barriers and expense so more people can experience this is 'Democratizing Longevity.'"
In addition, APR is expanding its business beyond the advancement of cosmetics and beauty devices into the field of aesthetic medical devices. As early as the end of this year, it plans to unveil a new aesthetic medical device in Korea and then enter the global market.