Smells like team spirit: Shinsegae, Bath & Body Works partner on Korean market entry

Beauty products of Bath & Body Works [SHINSEGAE DEPARTMENT STORE]

Shinsegae Department Store will bring Bath & Body Works to Korea as it seeks to expand its reach in the domestic beauty and personal care market.

The two parties signed an agreement on the exclusive distribution of the U.S. brand's products, the Korean company said Wednesday.

The products will be in the Sweet Park, the newly unveiled dessert destination on the basement floor of the Shinsegae Department Store in Gangnam District, Southern Seoul starting Friday.

Through the store, Shinsegae will provide 301 products including scented body wash, body lotion and hand cream as well as scented candles boasting rich scents.

Founded in 1990, Bath & Body Works offers over 250 different scented body washes, lotions and scrubs as well as fragrance products such as candles. It currently has around 2,000 offline stores in 43 countries from North America and Europe.

Shinsegae will beef up its competitive advantage in the country’s beauty and personal care market with the help of Bath & Body Work’s strengths in fragrance, with the U.S. company's crown jewel Gingham fragrance slated to be introduced first.

The size of Korea’s fragrance market continues to grow. According to a report by Expert Market Research, the market is expected to grow 6.3% annually from $456.43 million (620 billion won) in 2023 to $793.16 million by 2032.

“As we are the sole distributor of Bath & Body Works in Korea, we will lead a new trend in the domestic fragrance market,” said a Shinsegae official, adding that the retail giant will continue to introduce unique and differentiated scent-related products.

The beauty products of Bath & Body Works will be available through Sweet Park, SSG.com, Chicor.com, S.I.VILLAGE starting May 24, and on KakaoTalk Gifts in June.

BY CHOI HAE-JIN [choi.haejin@joongang.co.kr]