[Sponsored Report] Popular brands make waves in Southeast Asian markets
The cosmetics giant is finding success in Southeast Asia with customized advertisements targeting specific customers and extensive research into what products appeal to local consumers.
Sulwhasoo, one of the main brands under Amorepacific, is a luxury beauty brand that combines traditional and modern skin science to create a uniquely Asian take on cosmetics.
The brand developed the world’s first ginseng-based cosmetics, starting with ABC Ginseng Cream in 1966, and now has over 50 years of experience spreading beauty.
During the Asean-Republic of Korea K-Beauty Festival, held from Nov. 25 to 26 at the Busan Exhibition and Convention Center, Sulwhasoo displayed its best sellers from Asian markets such as First Care Activating Serum, the Concentrated Ginseng lineup and the Timetreasure lineup, drawing interest from the crowd.
Sulwhasoo is now recognized as a must-have beauty brand in Thailand, one of the biggest beauty markets of Asia.
Laneige, another Amorepacific brand, has focused on moisturizing skin for 25 years.
The brand showed off its Water Bank Hydro Essence at the K-Beauty Festival. The popular essence product has sold an average of one bottle every 15 seconds since launching in 2002.
Laneige has seen a two-digit growth rate in the Asean market by diversifying its range and expanding its distribution channel from brick-and-mortar stores to e-commerce.
Nature-friendly cosmetics brand Innisfree contains natural ingredients such as green tea and volcanic ash fresh from Jeju Island.
The brand is now available in 14 countries around the world including 5 Asean member states and is looking to expand its business further.
Amorepacific is also carrying out research on the skin types of Asean consumers to provide the best-suited products.
Singapore has been selected as a hub of research and development for the Asean region, and Amorepacific has collaborated with the Institute for Medical Biology to develop a next-generation anti-aging beauty solution.
Amorepacific is also expecting to carry out joint research with the brightest minds from Singaporean universities such as Nanyang Technology University and the National University of Singapore.
In order to catch up with the Southeast Asian e-commerce market, Amorepacific has signed a memorandum of understanding with Singaporean e-commerce giant Lazada Group.
The agreement allows both companies to launch new brands and explore new retail business that combine online and offline channels.
Both companies have agreed to collaborate to protect Amorepacific’s intellectual property rights on Lazada’s online marketplace to ensure stable sales without concerns of imitation products.
Amorepacific expects to strengthen its digital channels in the Asean region through the agreement.
By Kim Seung-Jun [kim.Seungjun@joongang.co.kr]