[Edaily Reporter Kwon Oh Seok ] Hana Securities announced on the 30th that it expects #d'Alba Global’s stock price to continue its upward trend, as the current price does not pose a significant burden on its valuation and the valuation gap with competitors is gradually narrowing. However, the firm did not disclose its investment rating or target price.

Park Jong-dae, an analyst at Hana Securities, noted, “Following the global success of its Mist Serum, the company is diversifying into categories such as sunscreen and multi-balms. Building on its success in cosmetics, it is preparing to launch beauty DEVICES, inner beauty products, and sub-brands. A task force has been formed to prepare for the launch of new brands.”
He added, “The company is also keeping the door open to M&A (mergers and acquisitions). It is taking steps toward becoming a major multi-brand cosmetics conglomerate,” and noted, “The company’s current annual revenue guidance for 2026 is 7000억 won, but this could be revised upward following the second-quarter earnings announcement.”
He projected that second-quarter consolidated revenue and operating profit would reach 184.1 billion won and 42.3 billion won, respectively, representing year-over-year growth of 43% and 45%. “Excluding the domestic business, which is in its seasonal off-peak period, revenue across all regions is expected to grow quarter-over-quarter, continuing the trend of solid earnings improvement,” he explained. “Growth in Japan, North America, and Europe is expected to be particularly notable, driven by the significant impact of new offline store openings.”
For the third and fourth quarters, he estimated that the operating profit margin would rise by 2–3 percentage points year-over-year, with operating profit growth reaching 70–80%. Analyst Park emphasized, “Sales from Amazon Prime Day will be reflected in the third quarter. Not only are we strictly managing profitability by region, but we’re also prioritizing efficiency in Amazon performance marketing rather than simply focusing on boosting rankings.”
He continued, “Since we’ve already established a strong foothold within Amazon’s Top 50 Beauty rankings, we’re now focusing our efforts on improving rankings in other subcategories—such as multi-balms, grinding creams, and eye creams—in addition to the mist serum,” adding, “Furthermore, we cannot rule out the positive impact of the growing share of high-margin categories and B2B channels.”