Hugel is speeding up global growth with a “hybrid sales strategy” that combines direct sales and par..

Hugel is speeding up global growth with a “hybrid sales strategy” that combines direct sales and partnerships in the U.S. market. The goal is to generate more than 30% of total sales in the U.S. market by 2030.

Hugel participated in the JPMorgan Healthcare Conference in San Francisco on the 15th (local time) as an Asia-Pacific (APAC) track presentation company and unveiled its U.S. business strategy and mid-term growth plan.

Carrie Strom-Hugel, global CEO, announced her plan to accelerate growth by expanding hybrid sales and strategic investments in the U.S. market. CEO Carrie Strom said, “We will achieve 900 billion won in company-wide sales by 2028 through a sales strategy that combines direct sales and partnerships in the U.S. market and raise the share of U.S. sales to more than 30 percent.”

After acquiring Retivo’s approval from the U.S. Food and Drug Administration (FDA) in 2024, Hugel partnered with local distribution partner Benev to begin selling the U.S. in earnest in 2025. Starting this year, the strategy is to accelerate the growth of the U.S. business by introducing a hybrid sales model that combines direct sales in addition to existing partnerships. Through this strategy, the goal is to gradually expand the market share in the United States to 10% in 2028 and 14% in 2030.

CEO Carrie Strom described the implications of the hybrid sales strategy in the U.S. as a model aimed at simultaneously coexisting with partners and improving profitability. “The United States is the largest botulinum toxin market in the world and the most important market in terms of price and profitability,” CEO Carrie Strom said. “Performance in the United States affects the global market as a whole.” “If we create a structure that connects directly to customers while maintaining existing partnerships, we can not only expand our market share, but also improve our unit price and profitability,” he said. “Partners can also grow together.”

Through this growth strategy, Hugel plans to achieve an average annual growth rate (CAGR) of about 25% by 2028 and continue to maintain an EBITDA margin of 50% with increased sales.

Regarding the expansion of the product portfolio, CEO Jang Doo-hyun of Hugel explained. “We have been doing business based on toxin and fillers now, but we aim to build a portfolio across aesthetics, including toxin, filler and skin boosters in the future,” Chang told reporters. “In the short term, we plan to promote licensing contracts or joint sales centering on competitive products in the Korean market,” he added. “As the licensing schedule varies by country, Skin Booster will expand first in Korea and then gradually expand to overseas markets in line with the global licensing schedule.”