APR, an eminent figure in Korea's burgeoning beauty technology scene, has outpaced Amorepacific to ascend to the apex of the nation’s cosmetics market by market capitalization. This milestone was achieved after surpassing LG Household & Health Care, a stalwart in the industry. This development highlights the challenges faced by the traditional powerhouses of K-beauty, as new and dynamic players like APR begin to dominate the scene.
As reported by the Korea Exchange on the 6th, APR's stock soared by an impressive ₩27,200 (14.52%), reaching ₩214,500 by 9:40 a.m. This uptick came on the heels of an announcement revealing better-than-expected second-quarter financial results, momentarily pushing the stock to a peak of ₩220,000. With these numbers, APR's market capitalization is now valued at roughly ₩8.16 trillion.
Established in 2014, APR boasts a portfolio of esteemed beauty brands, including Aprilskin and Forment, alongside MediCube, a rapidly expanding home beauty device brand. The company's remarkable financial growth has been propelled by robust export activities to markets such as the United States, Europe, and the Middle East. In a strategic move to bolster its global outreach, APR recently appointed Jang Won-young of the popular group IVE as the ambassador for its MediCube Age-R line, following the endorsement by actress Kim Hee-sun.
APR entered the stock market on February 27, 2023, with shares initially priced at ₩317,500, marking a 27% increase over its initial public offering (IPO) price of ₩250,000. At that juncture, the company's market capitalization was approximately ₩2.41 trillion.
On June 23 of this year, APR's market valuation exceeded that of LG Household & Health Care for the first time, securing the second-in-command position in Korea's cosmetics industry. As of the previous day, APR's market cap was valued at ₩7.13 trillion, significantly overtaking LG H&H's ₩4.59 trillion by more than ₩2.5 trillion. With its recent upward trajectory, APR has now surpassed Amorepacific, claiming the top rank in the K-beauty arena merely 17 months following its public listing.