Korean beauty firms reinforce business in China

2018.01.22 14:54:30 | 2018.01.22 14:54:59

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South Korea¡¯s beauty product makers that have suffered from plunging sales in China due to a year-long standoff between Seoul and Beijing over a U.S. missile shield are beefing up their businesses in the neighboring country amid signs of easing ties between the two nations.

According to cosmetics industry sources on Monday, Claire¡¯s Korea Co. has recently won a license for its flagship horse oil cream in China after a year-long delay. Following the recent development, the company is preparing to launch active marketing campaigns for the cream through local TV shows and expand sales channels in the Chinese online shopping malls, an official at the maker said.

Another small-sized Korean cosmetics brand Make P:rem has also obtained licenses for its 13 products to make inroads into China. The company has also waited about a year to get the green light for the sale of its products since it first applied for the licenses. The brand is expected to get two more licenses by the end of this month, raising expectations for a rise in sales in China.

GUERISSON`s horse oil creamÀ̹ÌÁö È®´ë

GUERISSON`s horse oil cream

Korean cosmetics are popular among Chinese consumers, but they have seen a sharp fall in their sales in China after Beijing boycotted Korean products and services in protest against Seoul¡¯s host of a U.S. Terminal high Altitude Area Defense (THAAD) on its soil, which China sees as a security threat.

After the two countries agreed to mend their ties late last year, Korean companies are gearing up to reinforce their businesses in China in hopes for a recovery in demand for Korean products.

Another Korean cosmetics manufacturer It`S Hanbul Co. appointed new head manager in charge of sales and production in China and added more staff members for planning and marketing departments in its Chinese operation.

Cosmax Inc. also held its second technology conference at the InterContinental Shanghai Pudong in Shanghai, China to share its new technologies and beauty trend with local scientists and researchers from its major clients L¡¯Oreal, Unilever and Zara.

By Kang Da-young and Lee Ha-yeon

[¨Ï Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]