Shinsegae Department Store launches skin care brand
Shinsegae Department Store announced Thursday the launch of its first skin care brand Onoma, hoping to expand its store-brand products to include cosmetics.
Onoma is aimed at customers willing to seek out information and who have a high level of knowledge of ingredients and the effects of the products they use. It also plans to appeal to K-Beauty fans who are interested in caring for their skin.
The retailer said all products of Onoma have their efficacy verified through human testing and were designed to be used by customers of all genders and ages.
Shinsegae says it used its expertise, gained from years of operating beauty and fashion stores within its department stores, to develop the brand.
“Using our know-how on retail and branding, we launched our first in-house skin care brand Onoma,” said Shin Young-sub, the senior managing director at Shinsegae Department Store. “As a leader in the K-beauty industry, we hope to grow Onoma into something special that can be loved by a large audience.”
Its products include moisturizer, sunscreen and six types of skin serums that will be available at the group’s beauty store chain, Chicor, and e-commerce site, SSG.com starting Friday.
Onoma skin care products are priced on average at 42,000 won ($34). It’s flagship product, Onoma essence — a line of six serums each targeted to help out different skin problems — is priced between 42,000 won to 52,000 won.
Retail companies and fashion brands have consistently worked to enter into Korea's cosmetics market. LF in October bought the trade mark rights to the French cosmetics and skin care brand, Athe, to offer a line of vegan skin care products to local consumers. The fashion division of the Hyundai department store, Handsome, acquired a cosmetics company earlier this month to launch its first skin care brand next year.
The Korean beauty market is among the top 10 around the world, with an estimated value of more than $13.1 billion, according to global market intelligence agency Mintel. Facial skin care products alone account for half of the market share and are projected to reach $7.2 billion this year.
BY KANG JAE-EUN [firstname.lastname@example.org]
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