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LOS ANGELES, CALIFORNIA - MARCH 18: Attendees are seen sampling products at the VIP Preview of the medicube Glowland Pop Up on March 18, 2025 in Los Angeles, California. (Photo by Robin L Marshall/Getty Images)
Robin L Marshall | Getty Images Entertainment | Getty Images
Shares of South Korean beauty company APR have surged nearly 100% this year as the K-beauty company rapidly expands its presence in the U.S.
Its flagship Medicube brand is set to enter Costco stores across the U.S. in September, APR told CNBC. Medicube's Zero Pore Pad 2.0, a skincare product designed to cleanse pores, will be available across the retailer's U.S. stores.
The upcoming launch marks APR's latest push into major U.S. retailers, following launches at Ulta Beauty in August last year, Target in April and Walmart in June.
The Korean beauty company, which listed on South Korea's benchmark Kospi in 2024, now has a market capitalization of about 17.3 trillion won ($12.5 billion), nearly twice that of longtime beauty heavyweight Amorepacific and more than three times that of LG Household & Health Care.
APR has been rapidly expanding in the U.S., which has become a key market for the company. North American sales reached 376.3 billion won ($273 million) in the second quarter, accounting for 49% of total revenue.
Medicube was the most searched term across all categories on Amazon during its June 23-26 Prime Day event, according to the company APR.
Earlier this month, APR reported that its second-quarter revenue jumped 134.2% from a year earlier to 767.5 billion won, while operating profit rose 134.5% to 190.6 billion won. Overseas sales accounted for 91.8% of total revenue.
APR is riding a broader K-beauty boom in the U.S. South Korea's cosmetics exports are estimated to have reached a record $7 billion in the first half of 2026, up 27.3% from a year earlier, according to the country's Ministry of Food and Drug Safety. The U.S. was the top destination, accounting for $1.45 billion, or 20.7% of total exports.
The company raised its full-year revenue forecast to 3 trillion won from about 2.1 trillion won, citing growth in the U.S. market and the potential for further global expansion. APR Vice President Shin Jae-ha said during the company's second-quarter earnings call that U.S. sales are expected to reach about 1.3 trillion won this year.
APR shares had gained more than 360% last year.
