[Photo provided by Aekyung Industrial Co.]
South Korea’s best-selling essence cover pact from AGE 20’s is venturing out to Indonesia, broadening its presence to Southeast Asia’s biggest market after making inroads in Thailand and Vietnam.
Aekyung Industrial Co. said Tuesday its cosmetics label AGE 20’s was cleared by Indonesia’s National Agency of Drug and Food Control to sell its signature compact foundation in the country.
Indonesia is the world’s largest Muslim country with a population of about 260 million. Its economy has been booming, with gross domestic product growth averaging 5 percent in recent years.
The company said the country’s rising middle class and growing interest in K-pop and K-beauty make it an appealing market for Korean cosmetics makers. Indonesia would also be a great test market before branching out to other Muslim countries, it added.
Aekyung Industrial will first introduce Indonesian customers to its hit item and gradually release other products such as its water correcting and age correcting lines.
AGE 20’s essence cover pact. [Photo by Aekyung Industrial Co.]
It has joined hands with Indonesia’s major ecommerce platforms Tokopedia, Shopee and Lazada but has plans to further expand its distribution network once sales take off. It added that it will first focus its marketing on online channels to take advantage of Indonesia’s one-day delivery service.
In March, the company announced its entry into Vietnam and held a launching ceremony at Lotte Legend Hotel in Ho Chi Minh City. The event gathered more than 100 guests, including the Vietnamese actress Chi Pu, local beauty influencers and retail industry officials.
By Kim Ha-kyung and Kim Hyo-jin
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]