APR Co Ltd (APR) announced on Thursday its plans to increase its offline sales share in the U.S. market to 20-30% next year, as the company intensifies its efforts to penetrate the American brick-and-mortar retail sector.
The announcement came during a conference call discussing the company’s third-quarter earnings, where executives addressed questions about shifts in global online and offline sales distribution.
APR’s Vice President Shin Jae-ha reported that it launched sales in 1,400 Ulta Beauty stores across the U.S. in August, and the reception has been positive. They’re optimistic about gradual growth in its offline channels. He added that while online sales currently dominate its U.S. market presence, it projects offline sales will climb to approximately 20-30% next year.
Shin elaborated that they believe it can achieve over 100 billion KRW (about 68.6 million USD) in offline sales in the U.S. Ulta Beauty operates in a massive market with annual revenues of about 15-16 trillion USD. Given that APR’s goal is to become one of the top five major brands in this space, reaching 100 billion KRW (about 68.6 million USD) in sales seems entirely feasible.
Ulta Beauty, often compared to South Korea’s Olive Young, is one of the largest cosmetics retailers in the U.S. With over 1,400 stores nationwide, the chain reported sales of approximately 11.3 billion USD in 2024. APR began its partnership with Ulta Beauty in April, introducing 22 products including Mediheal cosmetics and beauty devices such as the Booster Pro and Booster Pro Mini from the Mediheal Age-R line.
Vice President Shin also revealed that the company is preparing to expand its U.S. offline presence beyond Ulta Beauty.
He stated that they’re planning to enter additional markets starting next year, and preparations for some are already underway. Once fully launched, these expansions will significantly boost APR’s sales figures.
In related news, APR’s overseas sales for the third quarter reached 309.9 billion KRW (about 212.7 million USD), marking a 210% increase from the same period last year. Notably, U.S. sales alone surpassed 150 billion KRW (about 102.9 million USD) for the quarter, a first for the company in any single country.