Hugel, a South Korean medical aesthetics company, is accelerating its global expansion, targeting KRW 500 billion in sales for 2025 and KRW 900 billion by 2028. The company reported KRW 116.6 billion in revenue for Q1 2025 alone, up from KRW 89.8 billion in the same period last year, a 30% year-on-year increase. Overseas markets are driving growth, with international sales of botulinum toxin and fillers reaching KRW 70.8 billion in Q1. Key markets including the US, China, Europe, and Brazil contributed KRW 21 billion. The US market, the world's largest, is seeing explosive results, with Hugel's flagship toxin product Botulax generating KRW 64.6 billion in Q1 revenue. Hugel is shifting to a dual-track strategy in the US, combining partner collaboration with direct sales from the second half of 2025. This approach aims to enhance market control and reduce distribution fees to boost profitability. The company is also expanding in China, Southeast Asia, and Europe, participating in events like IMCAS Paris and the Thai Dermatological Society meeting to promote its products and engage with local clinicians. Hugel leverages its high-purity, FDA- and EU-approved toxin to target both premium and mass-market segments globally. However, its filler brand "The Chaeum" and skin booster "V-Rizon" saw a slight dip, with Q1 revenue of KRW 32.2 billion, down from KRW 34.4 billion a year earlier. The company is using its toxin distribution network for bundled sales, but these products have yet to stabilize.
In contrast, Hugel's cosmetic brand "Wellage" is growing strongly, posting Q1 revenue of KRW 17.9 billion, up from KRW 13.2 billion year-on-year, driven by K-beauty trends and expanded pop-up events. Hugel's high-purity hyaluronic acid raw materials differentiate its products, achieving 30-50% annual revenue growth. The company is expanding beyond clinics to target general consumers with a broader lineup, aiming to become a global leader in the skin and beauty market.
Source: Read the original report | Published: May 27, 2026