THE WHAT? While the pandemic has proven disastrous for many, LG Household & Health Care has reported its best-ever results for the fourth quarter and full year, according to a report published by Pulse News.
THE DETAILS Operating profit was up 6.3 percent to hit KRW 256.3 billion in the final three months of 2020, and sales rose 4 percent to KRW2.09 trillion. For the full year, operating profit inched up 3.8 percent to KRW1.2 trillion and sales increased 2.1 percent to KRW7.8 trillion.
THE WHY? The K-beauty behemoth attributed its record sales to the increased popularity of its premium offer and strong online demand in China where luxury cosmetics sales rose 41 percent yoy. LG Household & Health Care benefited from its prescient investments in diversified digital channels and online marketing.