South Korean cosmetics brand HERA is stepping up on its global expansion starting from a recent debut in Japan, where it has launched several exclusive products catered to local consumers’ preferences.
Demand for Korean beauty products is soaring in China, and sources now reckon this is thanks in large part to the influx of Korean television drama in the country.
South Korean cosmetic producers are continuing to enjoy the best of times as latest statistics show that export grew by 50% in the past year, fuelled mainly by demand from China.
Ongoing negotiations between the China and South Korea governments have resulted in a preliminary agreement that will allow Korean consumer goods manufacturers to trade more easily with China.
This year’s in-cosmetics Asia event will have a major focus on the fast growing, rapidly evolving and increasingly innovative South Korea market for cosmetics and personal care.
Cosmetic companies like AmorePacific are investing in China's beauty and personal care market which is estimated to be worth $34 billion this year, after its revealed that Chinese consumers favour South Korean cosmetics.
As growth potential starts to wane in some of the faster developing markets in Asia, South Korea may show more promise to international players wishing to tap into high growth potential.