Korea’s cosmetic companies thrive 한국 화장품업계 증가

Korea’s cosmetic companies thrive 한국 화장품업계 증가

Local cosmetics firms are riding the Korean
wave and posting solid sales at home thanks to their high quality products and reasonable
prices. Connie Lee reports. Despite a weaker economy, sales of the three
major domestic brands saw a boom in 2012, compared to the year before. Both AmorePacific and ABLE C&C saw their sales
rise 39-point-1 percent last year… while LG Household and Health Care saw its
sales jump 12-point-7 percent. “The sales of Korean cosmetics firms have
been growing each year. Over the years, Korean cosmetics companies have gained more recognition
for their quality and reasonable prices.” “In Myeongdong,… a district which attracts
both foreigners and locals alike,… the number of cosmetics stores has quadrupled in the
past four years. Currently there are more than 80 stores in this area alone.” The demand for domestic brands have grown…
partly due to firms having targeted marketing strategies for specific countries. “Our new snail line was a big hit in China
after it was showcased on a home shopping network there.” And the marketing… like the use of “Hallyu
Wave” stars as models… continue to attract those that are into K-Pop. So it’s not surprising that in a recent government
survey… the most popular shopping wish-list item for foreign tourists in Korea was beauty
and cosmetic products. “I like Korea’s skincare products — there
are a lot of organic and natural kinds. I first started using them because I saw that
Korean girls have good skin.” Reasonable prices of Korean brands also attract
the masses. “I’ve used a lot of different products…and
I think you can find everywhere great products, but at least if you compare the price, it’s
a good price with a good product level. It’s wonderful.” Experts say that Korean cosmetic brands have
also been able to do well because of greater investment into their R&D. ” With more than 3-thousand local brands in
the market, there’s more competition now to develop the best innovative products.The local
brands have been investing more and more into their marketing… and into R-and-D.” Connie Lee, Arirang News.

1 Comment

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