K-Beauty Exports Drive Record ODM Earnings

Дата публикации: 14-08-2026 12:48:35

Domestic cosmetics exports recorded $341 million from Aug. 1 to 10, surging 92.2% compared to the same period last year. The export growth rate in regions excluding Greater China reached 138.2%, indicating an acceleration in the market diversification of K-beauty. Cumulative exports from January to

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Domestic cosmetics exports recorded $341 million from Aug. 1 to 10, surging 92.2% compared to the same period last year. The export growth rate in regions excluding Greater China reached 138.2%, indicating an acceleration in the market diversification of K-beauty. Cumulative exports from January to July this year also maintained a steep growth trajectory, increasing by 27.6% from last year to approximately $6.88 billion.

This robust export performance led to record-breaking earnings for Original Design Manufacturing (ODM) companies in the cosmetics sector. Kolmar Korea reported consolidated sales of 861.3 billion won, or approximately $609.68 million, and an operating profit of 110.3 billion won in the second quarter of this year, ushering in an era of 100 billion won in quarterly operating profit for the first time since its foundation. Cosmax also achieved its highest-ever quarterly earnings, posting sales of 794.9 billion won and an operating profit of 73.7 billion won. Cosmecca Korea similarly exceeded market expectations, recording an operating profit of 32.1 billion won, a 39.3% increase year-on-year.

Behind the earnings rally is the rapid growth of small and midsize and indie brands that lack their own manufacturing facilities. According to the Ministry of SMEs and Startups, cosmetics exports by small and midsize companies reached a record $5.07 billion in the first half of the year, accounting for more than 70% of total cosmetics exports. As indie brands expand into markets including the U.S., Japan and Europe, ODM companies that manufacture their products are benefiting from a steady influx of orders, creating a virtuous cycle.

Brand companies and distributors are also posting strong results. APR reported second-quarter operating profit of 190.6 billion won, up 134.5% from a year earlier, while d’Alba Global posted a record quarterly operating profit of 47.2 billion won. Silicon2, which distributes K-beauty products in more than 170 countries worldwide, also posted solid growth, with revenue and operating profit rising 51.8% and 59.0%, respectively.

Industry analysts say K-beauty has successfully diversified away from its past China-centric business model. Its reliance on exports to China, which exceeded 50% in 2021, fell to 17.7% last year, while the share of emerging markets, including Europe, the Middle East and Latin America, rose to 63.3%. In particular, exports of skincare products to the U.S. surged 48.6% in the first half of the year, driving growth.

Analysts are increasingly viewing K-beauty as having entered a structural turnaround, with several brokerages raising their target prices. LS Securities raised its target prices for Kolmar Korea and Cosmax to 200,000 won and 350,000 won, respectively. Cho Kyung-jin, an analyst at IBK Securities, said, “The significance of K-beauty’s expansion lies in its sustainability even without assuming a recovery in China.”

However, performance among overseas subsidiaries varied by company. While Cosmax’s U.S. subsidiary posted its first quarterly profit as sales grew 79%, Cosmecca Korea’s U.S. subsidiary saw sales decline 10%. Analysts say improving the profitability of overseas production facilities and diversifying customer bases will be key to maximizing the benefits of continued K-beauty export growth.

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Классификация: Пресс-релизы. Схожих патентов: 0. Схожих новостей: 10. Тональность: 0. Информативность: 18.09. Источник: www.businesskorea.co.kr.