APR, an emerging powerhouse in the realm of beauty technology in Korea, has recently surpassed Amorepacific, clinching the title of the country’s leading cosmetics company as measured by market capitalization. This significant advancement follows its previous outpacing of LG Household & Health Care. The current landscape highlights the diminishing hold of the longstanding "Big Two" in the K-beauty arena, while a new formidable challenger rapidly advances to the forefront.
As reported by the Korea Exchange on the morning of the 6th, APR witnessed a remarkable surge with its shares escalating by ₩27,200, marking a 14.52% increase to reach ₩214,500 by 9:40 a.m. The stocks even briefly touched an unprecedented peak of ₩220,000, spurred by quarterly earnings that exceeded expectations. At these levels, APR's market capitalization is estimated at approximately ₩8.16 trillion, showcasing its newfound financial strength.
Established in 2014, APR encompasses a portfolio of beauty brands including Aprilskin and Forment, alongside MediCube, a burgeoning brand of home beauty devices. The company's impressive growth trajectory is driven by substantial exports to regions such as the United States, Europe, and the Middle East. To bolster its international expansion, APR has recently appointed IVE’s Jang Won-young as the ambassador for its MediCube Age-R brand, succeeding well-known actress Kim Hee-sun.
APR made its entrance into the public market on February 27, 2023, launching with a share price of ₩317,500, which represented a 27% rise from its initial public offering price of ₩250,000. At the time of its launch, the company's market capitalization was valued at ₩2.41 trillion, marking the beginning of its remarkable journey in the financial market.
On June 23 of this year, APR's market capitalization first exceeded that of LG Household & Health Care, claiming the second position in Korea’s cosmetics sector. As of the day before the latest valuation, APR’s market cap reached ₩7.13 trillion, compared to LG H&H's ₩4.59 trillion, indicating a significant gap exceeding ₩2.5 trillion. With its recent upward thrust, APR has now surpassed Amorepacific as well, attaining the pinnacle of the K-beauty market just 17 months post its public listing, a testament to its rapid ascent in the industry.