[Edaily Reporter Kim Hyung-il ] As K-Beauty brands are appearing one after another in Amazon’s large-scale discount events, the overseas growth of domestic cosmetics companies is drawing attention. While companies such as APR(278470)and AMOREPACIFIC CORPORATION(090430) are expanding their presence in the U.S. and Europe, even original design manufacturer (ODM) firms like COSMAX, INC.(192820)and KOLMAR KOREA(161890) are continuing to secure more orders from overseas clients.

According to the securities industry on the 10th, K-Beauty brands such as Medicube, Dr. Jart+, Laneige, and Innisfree were included in the discount offerings during Amazon’s Prime Big Deal Days held on the 6th and 7th. As overseas sales of K-Beauty continue to expand through global distribution networks, the securities industry is also giving a positive assessment of the overseas growth potential of domestic cosmetics companies.

APR is experiencing rapid growth, particularly in North America and Europe. Meritz Securities forecasts APR’s consolidated revenue for this year at 3.1018 trillion won—a 103.1% increase from the previous year. Operating profit is expected to rise by 113% to 767.9 billion won.

By region, North America and Europe are expected to lead the growth. This year’s revenue in North America is estimated at 1.4828 trillion won, a 143.6% increase year-over-year, while revenue in Europe is projected to rise 421.5% to 586.7 billion won. North America and Europe are expected to account for 48% and 19%, respectively, of total revenue this year. These two regions are forecast to contribute 86% of the company’s total revenue growth.

APR has made new inroads into major U.S. retailers such as Target, Walmart, and Costco, and is simultaneously expanding both its e-commerce and brick-and-mortar channels in Europe. Meritz Securities analyzed that the company is rapidly scaling up its successful business model in Europe while expanding into new categories following its entry into the beauty DEVICE market.

AMOREPACIFIC CORPORATION is also broadening its overseas growth, centered on its North American business. LS SECURITIES estimated AMOREPACIFIC CORPORATION’s consolidated revenue for the third quarter of this year at 1.1413 trillion won and operating profit at 111 billion won. These figures represent year-over-year increases of 12.2% and 20.8%, respectively.

Revenue in North America is expected to rise by 23% driven by growth from COSRX, Estra, and Innisfree. COSRX’s third-quarter revenue is also projected to increase by approximately 30%. However, Laneige is facing the impact of intensifying competition within Sephora, and costs associated with pre-seeding and social media marketing conducted ahead of Amazon Prime Day in October are expected to affect short-term profitability.

The overseas growth of brand companies is also spreading to ODM firms. COSMAX, INC. is projected to report third-quarter revenue of 818.6 billion won and operating profit of 78.9 billion won, representing year-over-year increases of 39.8% and 84.7%, respectively. Both revenue and operating profit are expected to exceed market forecasts. Revenue from its U.S. subsidiary is projected to rise 75.2% to 64.6 billion won, and subsidiaries in China, Indonesia, and Thailand are also expected to continue their growth momentum, driven primarily by new clients.

SamsungSecurities assessed that operating leverage is continuing to expand not only domestically but also at overseas subsidiaries, and raised COSMAX, INC.’s target price by 37% from 270,000 won to 370,000 won. It projected that global production capacity (CAPA) will expand by 20% by 2027.

KOLMAR KOREA is also continuing to expand its overseas client base. SamsungSecurities estimated KOLMAR KOREA’s third-quarter revenue at 842.1 billion won and operating profit at 90.5 billion won—representing year-over-year increases of 23.3% and 55.1%, respectively. Revenue from its U.S. subsidiary is expected to rise by 128.4% to 18.5 billion won.

Orders for luxury products from global multinational corporations (MNCs) are also continuing. SamsungSecurities analyzed that orders for luxury SKUs from MNCs, which began last year, continued into the third quarter, and that negotiations for additional SKU orders—targeted for delivery from the end of this year through 2027—are currently underway. The firm also cited the commencement of operations at the new Sejong plant in July 2027 and orders for new sun care products as sources of momentum.

Jeong Dong-hee, an analyst at SamsungSecurities, commented on KOLMAR KOREA: “Order growth is evident across both domestic and international clients. As overseas subsidiaries are now beginning to contribute significantly to profits, it is important to pay attention to the medium- to long-term profit improvement trend and the momentum from the expansion of production capacity in 2027.”