| YesAsia Holdings Limited (2209.HK) |
- The Stock of "K-Beauty", partner with 400+ Korean Beauty Brands
K-Beauty products continue to expand rapidly worldwide, with the market value of related products expected to grow from US$13.59 billion in 2024 to US$25.98 billion in 2032. YesAsia specializes in retail services for Asian beauty, fashion, and lifestyle products, particularly popular Korean beauty products. It is an authorized distributor for over 400 Korean cosmetics brands, with its authorization covers many countries and regions in the world, fully capitalizing on the K-Beauty opportunity.
- Avoiding China's "Involution", targeting High-Growth Overseas Markets
In addition to its core markets in the United States, the United Kingdom, Australia, and Canada, the Group has expanded its marketing capabilities into 40 European countries, 19 Spanish-speaking countries in Latin America, and 25 Arabic-speaking countries. The Group's YesStyle launched an Arabic-language website in 2024, expanding its multilingual support to 8 languages, including French, German, Spanish, Italian, Dutch, English, and Chinese. As a result, revenue from the Middle East market increased approximately 178% in 2024, while revenue from Spanish-speaking Latin American markets surged by an impressive 536.1% in the same year.
- Explosive Growth in Performance
The Group's revenue grew by 71.7% yoy to US$345 million in 2024, with net profit increasing by over 150% to US$19.04 million. By the end of 2024, the YesStyle platform had 17.4 million members, representing an increase of over 4 million since the end of 2023, reflecting rapid growth in membership, revenue and profits. In addition to traditional marketing and logistics, the Group was one of the first in the market to heavily invest in social media marketing and AI technology. Targeting digital savvy, young consumers who prefer online shopping, social media platforms and unique experiences, the Group actively promotes the YesStyle Influencer Program, which engaged 403,000 key opinion leaders (KOLs) in 2024.
- Boost Operational Efficiency with AI
The Group leverages AI technology to drive its customer relationship management (CRM) system, which collects and analyses customer data to enhance the relevance of the customer journey, successfully increasing retention rates and revenue from existing customers while reducing operational costs. In 2024, revenue driven by the CRM system reached US$58.35 million, representing a 124.2% increase. Additionally, the Group has actively invested in high-tech warehouses, established 2 Autonomous Mobile Robotics (AMR) warehouse in Hong Kong. The AMR warehouse in Tsing Yi saved US$6.59 million in labour costs last year and achieved 1.5 times increase in total transportation volume. YesAsia’s second and largest AMR warehouse in Hong Kong commenced operations in April 2024, equipped with 240 AMRs, further enhancing logistics efficiency.
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