VT Posts 131.7 Billion Won in Q2 Revenue...Expands in Europe, Middle East and Announces 15 Billion Won Share Buyback

Comprehensive beauty company VT continued its growth trend in the second quarter this year, fueled by expansion into new overseas markets such as Europe and the Middle East. The company also plans to boost shareholder value by repurchasing 15 billion won worth of its own shares.

VT announced on August 13 that its consolidated revenue for the second quarter reached 131.7 billion won, with operating profit of 10.7 billion won. Revenue increased by 18.1% compared to the same period last year, when the company posted 111.5 billion won.

The expansion into overseas markets drove this earnings growth. Revenue from Europe surged 454% year-on-year, while the Middle East posted a 546% jump. In Europe, B2B sales expanded in earnest, including deals with Derma Space and Notino. In the Middle East, sales growth was led by Gratis in Türkiye.

The company is also strengthening its strategy in the U.S. market. VT promoted its own brand concept of "Active Performance Skincare" to enhance brand recognition, and held a pop-up event with the largest U.S. beauty distributor, Ulta Beauty, in Los Angeles.

During the second quarter, VT newly supplied the PDRN Duopack to Costco U.S. Meanwhile, the previously sold Ridleshot Duopack has sold out, with additional deliveries scheduled for the third quarter.

Domestic business also continued to recover. Revenue from Daiso rose by about 65% year-on-year, driven by strong sales of the PDRN Radiance Line and Body Care Line. Olive Young sales also grew approximately 47% quarter-on-quarter on the back of marketing effects such as collaborations involving Pokémon intellectual property.

VT expects its growth driven by global expansion to continue in the second half of the year.

A VT representative commented, "The results of our strategic marketing investments to establish our brand concept and spread its value are being reflected in our sales. We will continue this momentum by expanding into global markets such as Europe and the Middle East, building on our solid domestic foundation."

The company also announced a shareholder return policy. On this day, VT decided to acquire an additional 15 billion won worth of its own shares for the first time in about a year. The repurchased shares will be cancelled.

The company explained that through this share repurchase and cancellation, it aims to increase shareholder value and recover its undervalued share price. A VT representative added, "We will create a virtuous cycle by providing stable and predictable profit opportunities and sharing future gains in corporate value with our shareholders."

This content was produced with the assistance of AI translation services.