Able C&C is the parent company of beauty brands such as Missha and A’Pieu. The K-beauty company launched late last year, attracting interest from dozens of potential buyers, including French luxury group LVMH.
Recent reports in local media suggested that Able C&C’s majority shareholder, IMM Private Equity, may have changed its mind due to the firm’s good performance in recent months.
According to the comparative second quarter (Q2) financials, the firm recorded an operating profit of KRW 3.8 billion, a whopping 58.6% increase compared to the same period last year. Sales increased by 14.9%. Sales increased by 14.9% to KRW 74.6 billion.
The company attributed its success to its major global ‘Beauty is Real’ campaign, starring American actress Elizabeth Olsen and centered around the message of possible beauty.
Olsen joins Sana Minatozaki of South Korean girl group TWICE as Missha’s official brand ambassador.
Olsen, known for her portrayal of Marvel Comics character Wanda Maximoff in the Marvel Cinematic Universe (MCU), was appointed as Missha’s global ambassador in April this year.
“The only person Missha considered representing this campaign was Elizabeth Olsen.” Able C&C USA CEO Jaesuk Ahn told CosmeticsDesign-Asia in May.
“She shares her honest opinions in the media, speaks out against important global issues, and attracts millions of people around the world with her natural beauty. His ambition and intelligence exceed his looks and fame; “This coincides with the message we want to give.”
Missha was founded in 2000 and has a presence in 41 markets worldwide.
According to the company, its recent marketing investments in the brand “The virtuous circle that leads to real growth in sales and operating profit.”
Additionally, the campaign helped the firm’s ambitions beyond Asia. It recorded a growth of 130.1 percent in Europe and 13.4 percent in America.
“Able C&C is solidifying its position as a global company representing K-beauty by continuing solid growth in overseas markets in Asia, Europe and the Americas,” he said. The company said the following in its second quarter report.
In July, Missha’s US Amazon Prime Day sales were up 106% compared to the previous year. A’Pieu increased its sales by 62%.
“This success was largely due to Missha’s recent efforts to strengthen its competitiveness in the US market. “Brand awareness was increased through active marketing activities and content featuring Missha’s global ambassador Elizabeth Olsen across various channels, such as outdoor advertising and television commercials in the US.” The company noted.
In August, Missha highlighted that sales of Artemisia Calming Ampoules were increasing rapidly. It was reported that sales increased by 175 percent and volume increased by 300 percent compared to the same period last year.
The company recently announced that it is expanding its ‘Beauty is Real’ campaign and debuting a new television commercial featuring Artemisia Calming Ampoule and Olsen.
It was pre-released on the YouTube video platform and recorded over four million views.