[Photo provided by Shinsegae International Co.]
Shinsegae International Co., trading arm will venture out further with its house beauty brand Yunjac.
The cosmetics and fashion unit of South Korean retail giant Shinsegae Group said Wednesday that it will open an independent Yunjac store at Shinsegae Duty Free outlet in Myeongdong, central Seoul on Feb 2.
Yunjac is Shinsegae International’s first own cosmetic brand launched in October last year with Asian herb-based skincare product lineups.
Yunjac cosmetics are currently sold at three of Shinsegae Department Store branches across the country. The company said it is opening a new branch at Shinsegae Duty Free ahead of its schedule due to overwhelming response to its cosmetic product. Yunjac sales exceeded target by nearly four times last year, according to the company.
The company plans to gradually add more Yunjac stores at home and abroad with an aim to achieve sales of 100 billion won ($89 million) by 2020.
Its main customer target is Chinese millennials with high interest in luxury Korean cosmetics, according to the company. It has launched four new Yunjac travel packs exclusive for duty free store customers.
By Kim Ha-kyung and Cho Jeehyun
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]