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Biz News Korea(Eng)
LG premium cosmetic label Whoo hits 1 trillion won sales milestone
- Collected
- 2016.11.05
- Distributed
- 2016.11.07
- Source
- Go Direct
The Korea’s leading cosmetics and healthcare products maker said on Thursday that sales of Whoo from January to October topped 1 trillion won, and its annual sales are estimated to reach 1.16 trillion won the year.
Sales of the luxury cosmetics lineup have grown rapidly since its launch in 2003, exceeding 100 billion won in 2009, 200 billion won in 2013, 400 billion won in 2014 and 800 billion won last year.
Since its launch, demand for Whoo cosmetics has remained strong both at home and abroad, partly thanks to the company’s marketing scheme focusing on the products’ luxury image with the concept based on royal family, fancy design, and outstanding quality. It has been promoting the brand in upscale department stores in China since it entered the market in 2006, and its sales have remained firm not only in China but also in Hong Kong and Singapore, largely contributing to a rise in its overall sales.
Shares of LG Household & Healthcare ended up 1.6 percent, or 14,000 won, at 866,000 won on Friday.
By Park Eun-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]