South Korean cosmetics maker Tony Moly said on July 14 that it has received an additional order worth 23 billion won from Sephora stores in Europe as its beauty products have been selling like hot cakes half a world away.
Tony Moly has recently become the first homegrown cosmetics brand to sell its products at all Sephora stores in Europe.
Tony Moly already received two new orders from Sephora prior to the latest 23-billion-won order. The combined value of the three orders amounts to 53 billion won. The company said: “There is no doubt Tony Moly products are enjoying great popularity in Europe.”
Among the best sellers are Tony Moly Panda's Dream So Cool Eye Stick and Tonymoly Egg Pore Tightening Cooling Pack, which have found favor especially with European consumers in their 20s and 30s.
A Tony Moly official said: “In the birthplace of cosmetics, our affordably priced beauty products of high quality are driving the K-beauty craze. In the second half of this year, we will launch various new products to expand our skincare and cosmetics product lineups. Tony Moly products have been in high demand in not only Europe but also the Middle East and Russia.
Sales of Tony Moly climbed 19 percent y-o-y in the first quarter. Its first-quarter operating profit also gained 16 percent y-o-y. Analysts have high expectations for Tony Moly’s first-half earnings as exports rose sharply amid growing sales in the domestic market.
