Fashion: Korean beauty market on a global expansion spree
Date
3/24/2016 9:19:32 AM
(MENAFN- Asia Times) The 'K-beauty' market is expanding its sphere of influence beyond Asia and reaching out to other global markets.
LG Household & Health Care'sThe Face Shopis eyeing the Middle Eastern market and it has so far opened 55 stores in five countries: Saudi Arabia United Arab Emirates Jordan Oman and Armenia.
These Korean brands are using different marketing strategies to aggressively target overseas markets.
In areas where natural ingredients and safety are important such as Europe and the U.S. businesses are attracting customers with their 'natural' brands. Some brands promote elements of Korean tradition to attract western consumers. Many are 'blending in' with the locals through collaboration with local businesses.To boost overseas expansion theKorea Trade Promotion Corporation(KOTRA) is taking steps to boost sales of Korean cosmetics through American and Chinese online shopping sites.
KOTRA will host a 'K-beauty summit' to help Korean cosmetics brands export their products. The agency's 'online export incubating program' will be introduced and is expected to help businesses sell their products through Amazon.KOTRA is also seeking to secure new trading opportunities in China in collaboration with the online shopping site TaoBao operated by Chinese e-commerce behemoth Alibaba. The two parties plan to host a K-beauty expo in China during the first half of the year.
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