In a significant shift within the Korean cosmetics landscape, APR, an emerging leader in the beauty technology sector, has surpassed the long-standing industry giant, Amorepacific, to become the most valuable cosmetics company in South Korea based on market capitalization. This notable advancement follows its previous overtaking of another major player, LG Household & Health Care. The ascension of APR marks a pivotal moment, reflecting the challenges faced by the conventional powerhouses of the K-beauty field, while highlighting the rapid ascent of a fresh competitor.
As reported by the Korea Exchange on the 6th, APR's stock experienced a remarkable increase of ₩27,200, or 14.52%, reaching ₩214,500 by 9:40 a.m., momentarily hitting a record peak of ₩220,000. This surge was catalyzed by financial results that exceeded expectations in the second quarter. At these trading levels, APR's market capitalization is approximately ₩8.16 trillion, underscoring its financial prowess.
Established in 2014, APR boasts ownership of several beauty brands, including Aprilskin and Forment, alongside MediCube, a burgeoning brand in the home beauty device segment. The company has witnessed significant earnings growth, primarily fueled by robust export activities to regions such as the United States, Europe, and the Middle East. In an effort to intensify its global marketing strategy, APR has recently enlisted IVE's Jang Won-young as the new ambassador for its MediCube Age-R brand, succeeding actress Kim Hee-sun.
The company made its initial public offering on February 27, 2023, launching at a price of ₩317,500 per share, which represented a 27% increase over its IPO price of ₩250,000. At the time of its stock market debut, APR's market value was estimated at ₩2.41 trillion.
On June 23 of the current year, APR achieved a milestone when its market valuation exceeded that of LG Household & Health Care for the first time, securing the second position in the Korean cosmetics industry. As of the previous trading day, APR's market capitalization stood at ₩7.13 trillion, significantly outpacing LG H&H's ₩4.59 trillion by more than ₩2.5 trillion. With the latest surge in its market performance, APR has now overtaken Amorepacific, seizing the leading position in the K-beauty sector a mere 17 months after its listing.