Hugel cosmetics grow as botulinum toxin powers record H1 results

Hugel’s cosmetics and other businesses grew 31.7% in the first half of 2026, reaching net sales of ₩39 billion (US$27.6 million), with second-quarter sales for the segment up 32.8% to ₩19.8 billion (US$14 million). Both figures outpaced growth at the medical aesthetics company overall, though its botulinum toxin business grew faster still, rising 46.6% to ₩149.4 billion (US$105.7 million).

The South Korea-based company reports that group net sales rose 27.2% to ₩254.5 billion (US$180 million). Operating profit climbed 8.4% to ₩103.7 billion (US$73.3 million), while net income gained 23.5% and reached ₩85.3 billion (US$60.2 million). Hugel notes that all three figures set company records for growth.

“The financial results reaffirm our solid leadership in South Korea, which continues to serve as the foundation for our global growth,” says Daniel Chang, CEO of Hugel Korea. “We will continue to strengthen our core businesses while diversifying our product portfolio to drive sustainable long-term success.”

Global financial results

First-half net sales in the Americas more than doubled from a year earlier, growth Hugel attributes to expansion in the US and Brazil. The Asia-Pacific segment and the combined Europe and other markets segment each grew in the mid-to-high 20% range over the same period.

Domestic momentum was narrower than the group figures suggest. In the second quarter, net sales across all product categories rose 16% in South Korea and 30% overseas, leaving overseas markets with 67% of quarterly net sales and South Korea with 33%.

Combined first-half net sales of botulinum toxin and hyaluronic acid dermal fillers in South Korea rose 2.5% to ₩53.5 billion (US$37.8 million), which Hugel says came despite intensifying competition in its home market.

The Americas focus echoes a wider movement among K-beauty companies. Amorepacific and LG Household & Health Care both reported rising North American and European sales for the second quarter of 2026 as China revenues receded, with LG H&H’s North American revenue passing its China revenue for the first time.

Carrie Strom, Hugel’s president and global CEO, ties its results to K-beauty’s overseas push.Hugel points to US expansion and Korean market leadership as the driver behind its record half-year.

“We continue to deliver on our critical strategies of expanding our presence in the US, maintaining our leadership position in Korea, and executing on business development opportunities in key markets,” she says.

The pharma beauty stack

Hugel sells cosmetics along with botulinum toxin, hyaluronic acid dermal fillers, skinboosters, and absorbable sutures. Injectables remain the bulk of the business, with hyaluronic acid dermal fillers and skinboosters adding first-half net sales of ₩66.1 billion (US$46.7 million) to the toxin business.

Several South Korean pharmaceutical companies have taken a similar route and are building derma cosmetic brands on clinical credentials, rather than treating cosmetics and skin care as a separate business.

A Boston Consulting Group and Women’s Wear Daily survey of 5,000 US beauty consumers, conducted in April 2026, points to consumer behavior supporting the pairing. The report identifies a segment it calls “optimizers,” which stack injectable treatments with topical routines.

Growing the US market

The company notes that Q2 operating profit fell 1.1% from this time last year, to ₩56 billion (US$39.6 million), though it rose 17.6% from Q1. Hugel attributes this year-over-year decline to increased spending on its US direct sales rollout and marketing.

However, quarterly net sales still set a record at ₩137.9 billion (US$97.5 million), an increase of 25.1%. Net income rose 17.1% to ₩44.7 billion (US$31.6 million).

“The record first-half performance underscores Hugel’s growing global competitiveness,” Strom concludes.