Andar’s Q2 operating profit up 50%

Andar Singapore Store. [Courtesy of Andar Co.]

Andar Co., a South Korean athleisure brand, saw its operating profit soar by 50 percent in the second quarter of 2024 from the same period a year ago.

According to the company on Wednesday, its operating profit for the second quarter was 10.5 billion won ($7.64 million), up 50 percent from the same period in 2023. Sales were 67.1 billion won in the April to June period, up 9 percent on year, with an operating profit margin that topped 16 percent.

“The strong results were attributed to our efforts to avoid price discounts and emphasize innovative technology, premium fabrics, and functional and stylish designs, while strengthening our communication with customers,” a company official said. Andar’s underwear and swimwear lines, which targeted summer demand, were also popular.

The company has expanded into overseas markets, including Singapore and Japan. It plans to open its second standalone store in Singapore at Takashimaya Department Store, a luxury mall on Orchard Road, in October 2024.