APR Corp: A Korean Beauty Startup Outshining Industry Titans
South Korean home-beauty device company, APR Corp, has achieved a remarkable milestone. It has surpassed established industry leaders in market value, following a surge in its stock after impressive second-quarter earnings. The company’s shares have rocketed by 200% year-to-date, pushing its market capitalization past $4 billion. This success has catapulted 36-year-old founder Kim Byung Hoon to the status of South Korea’s newest billionaire, with a $1.3 billion stake.
APR’s success is largely driven by the power of viral social media. A prime example is a 15-second TikTok clip from Kylie Jenner featuring their Booster Pro device, which has garnered millions of views. The company’s flagship brand, Medicube, has become the top-selling K-beauty product in the US. It’s worth noting that over 70% of total sales now come from overseas markets.
APR’s global demand has been further amplified by celebrity endorsements. Stars like Kendall Jenner, Khloe Kardashian, and Korean idol Jang Won-young have all endorsed their high-tech facial devices and cosmetics.
CFO Shin Jae Ha projects that the company will hit 1 trillion won ($730 million) in revenue this year. This represents explosive growth for the tech-enabled skincare company. APR’s device-led skincare model and influencer-driven marketing strategy have attracted strong traction in high-margin markets. The US market, in particular, has shown great promise, with the company preparing for a nationwide rollout at Ulta Beauty stores this month.