The South Korean beauty group, which owns brands including Laneige and Sulwhasoo, reported Wednesday that its first-quarter earnings increased by almost 90 percent year-on-year on the back of online and overseas sales growth, The Korea Times reports.
Net profit hit 176.8 billion won ($159.2 million) for 2021′s first quarter, an 86.5 percent increase from the same period last year. Sales grew 8.5 percent to 1.39 trillion won ($1.2 billion).
The group’s domestic sales grew 6.9 percent compared to 2020′s first quarter, with online orders surging over 30 percent. Meanwhile, overseas sales got a 19.6 percent boost; sales in China rose 30 percent.