| Category | Sheet Masks |
| Founded | 2009 |
| Headquarters | Seoul, Korea |
| Listing | Private (L&P Cosmetic Co., Ltd., Seoul) |
| Latest revenue | Company revenue KRW 323.4bn in 2025 |
| Hero SKUs | N.M.F Aquaring Ampoule Mask |
Brand History
Mediheal comes from L&P Cosmetic, founded in Seoul in 2009 by Kwon O-seop, a 25-year cosmetics veteran. The brand began as Clinie and was renamed MEDIHEAL in 2012. Its first correct call was pricing: when Korean masks sold five for KRW 1,000, L&P charged KRW 2,000 for one sheet. Rivals predicted failure; it sold 200,000 sheets a month, establishing that a mask could be serious skincare.
The second was channel and IP. Mediheal was among the first Korean mask brands in all three major duty-free chains, riding Chinese travellers and daigou buyers abroad, then a global BTS collaboration pushed demand from Asia into Europe and the US. The company owns no mask factory — 2025 outsourced processing reached KRW 132.7bn with Kolmar Korea and Cosmax — and concentrates on product definition and brand. A 2022 overhaul renamed, re-sheeted and repackaged the line; ten renewed masks passed 15m units in six months, and a 2024 Madecassoside serum grew 820% in a year, moving the brand beyond masks into daily skincare.
Hero Products
Three-Year Financials
| Year | Revenue (RMB bn) | YoY | Net profit (RMB bn) |
|---|---|---|---|
| 2023 | 1,664 | — | — |
| 2024 | 2,490 | +49.6% | — |
| 2025 | 3,234 | +29.9% | 1,012 |
Brand-level：Mediheal was the first brand on Olive Young to pass KRW 200bn in annual sales and ranked first among beauty brands on that channel in both 2024 and 2025. Exports reached KRW 118.3bn in 2025, about 37% of product sales, with cumulative mask shipments above 3.1bn units.
Source：L&P Cosmetic audited filings (DART); Olive Young disclosures; Korean business press interviews
Company Coverage
- 2026-01First KRW 200bn brand at Olive Young
Mediheal became the first brand on the chain to pass KRW 200bn, ranking first two years running.
Source：Olive Young disclosure - 2025-1143,000 stores in Japan
340 retail systems, using the mask network to push toners and serums.
Source：Korean press interview - 2025-08Exports reach 37% of sales
KRW 118.3bn of exports in 2025, with China and Japan the two largest markets.
Source：DART filings
Editor's note: Mediheal is the extreme case of defining a category with one product — no factories, but pricing, sheet material and duty-free channels turned masks into a national calling card. Its bet now is what comes after masks; the Madecassoside serum is the first exam. If serums do not hold, the KRW 200bn ceiling returns.