Kia announced on March 10 that its flagship electric vehicle, the EV9, has been named as the 2024 U.K. Car of the Year.The U.K. Car of the Year is selected each year by a 30-member judging panel of locally based automotive journalists who vote on vehicles launched in the last 12 months. Participatin
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.C&C International’s 4Q23 results met consensus, if excluding incentive compensation. As of 1Q24, domestic and North America-focused orders are up 80% y-y. Backed by hit products from multiple indie
The author is an analyst for Shinhan Securities. He can be reached at hpark@shinhan.com -- Ed.Investment point 1: Domestic earnings driven by inbound touristsInbound visitors to Korea rose to 960,000 in July, reaching 66% of the 1.45mn level seen in July 2019 with triple-digit growth continuing ever
South Korean cosmetics have gained popularity not only in neighboring Japan and China but also in North America and Europe, soaring in global demand. Factors contributing to this surge include the relative affordability of these products, outstanding quality, the global popularity of K-pop, and enha
Propelled by the acceleration of the next generation of K-Beauty players, South Korea’s cosmetic exports have surpassed 10 trillion won for two consecutive years.According to the Ministry of Food and Drug Safety on July 6, domestic cosmetic companies’ exports last year were 10.2751 trillion won (US$
The author is an analyst for Shinhan Securities. She can be reached at hpark@shinhan.com -- Ed.Large-caps see weak demand during China’s 618 event, rising cost issuesLarge-cap Korean cosmetics companies appear to be seeing a limited upturn in earnings in 2Q23. Cosmetics exports to China and Hong Kon
Small and medium-sized Korean cosmetics companies are making a splash in the Japanese market.According to industry sources on May 23, small and medium-sized Korean beauty brands are making great achievements in the Japanese market as they are targeting online and offline simultaneously based on thei
The author is an analyst for Shinhan Securities. He can be reached at hpark@shinhan.com -- Ed.Qualitative growth to continue in Korea’s consumer industriesKorea’s capital city Seoul has hosted the fashion shows of global high-end luxury brands Louis Vuitton, Gucci, and Burberry for a second consecut
The author is an analyst for Shinhan Securities. She can be reached at hpark@shinhan.com -- Ed.1Q23 operating profit meets expectationsClio Cosmetics posted consolidated operating profit of KRW5.2bn (+44% YoY) on sales of KRW75bn (+14% YoY) for 1Q23, meeting our estimate and the market consensus. Sa
The author is an analyst of NH Investment & Securities. She can be reached at jiyoony@nhqv.com. -- Ed. In line with recovering demand for color makeup, orders for C&C International’s lip makeup products have been expanding. The firm is expected to book relatively sound earnings in 2Q22 thanks to: 1)
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Thanks to its efforts to improve margins on all channels, Clio is to enjoy rapid earnings growth upon a demand recovery. With the firm performing soundly at both online and offline channels, it is wel
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Clio’s 3Q21 OP increased 291% y-y. A full-fledged turnaround appears to have begun on the back of strong sales for new products and top-line growth at high-margin H&B and online channels. Earnings imp
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Clio’s 3Q21 OP likely jumped 284% y-y on the back of low-base effect, core channel growth, and strong new product sales. While investor sentiment has contracted sharply due to the re-spreading of Covi
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. C&C International is to see improving earnings going forward, supported both by growing cosmetics demand in North America and Europe in line with rising inoculation rate, increasing sales of high-end
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Clio’s OP increased 1% y-y in 2Q21. Sales growth is set to sustain in 2H21 thanks to both new product launches and major promotions at high-margin H&B channels. With efforts being made to strengthen p
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. We expect Clio’s 2Q21 OP to show 13% y-y growth. Despite cost increase, sales at the main channel are to exceed expectations, resulting in expanded profit leverage. Steep earnings improvement is antic
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. We note that most of Clio’s channels (excluding Club Clio) are showing signs of recovery, and efforts are being made to strengthen profitability at individual channels. Given such, we anticipate stron
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Cosmetics players making efforts to improve business models amid unfavorable external environmentsWe maintain a Positive rating towards the cosmetics sector, noting a rebound in global cosmetics deman
The author is an analyst of NH Investment & Securities. She can be reached at mj27@nhqv.com. -- Ed. Clio’s OP declined 41% y-y in 1Q21 on the booking of one-off expenses. However, most of the firm’s channels (excluding Club Clio) are showing signs of recovery, and efforts have been made to strengthe
This year, TCR Europe enters its sixth season and will start on Hankook race tires in seven different European countries. The Slovakia Ring hosts the opening round on May 7. The quality field, consisting of cars from Alfa Romeo, Audi, Cupra, Honda, Hyundai and Peugeot, will then do battle for victor