The Real Protagonist of K-Beauty is 'Here'.. Record-breaking Performances with Global Support

[Financial News] K-Beauty indie brands are standing out in the global market, with record-breaking performances this year. Products tailored to the characteristics of consumers in each country, securing influential distribution channels, and faster planning and product launches than large corporations are all contributing to unprecedented growth. 

According to the industry on the 14th, K-Beauty indie brands that are attracting attention in the global market continued their clear growth trend in the second quarter of this year. Amuse, a beauty brand acquired by Shinsegae International in August last year, achieved its highest-ever performance in the second quarter of this year by expanding its overseas sales channels with a product strategy reflecting the tastes of the MZ generation. Sales increased by 57.8% and operating profit by 167% compared to the same period last year, reaching 19.9 billion KRW and 2.4 billion KRW, respectively. 
Amuse, which started as an indie brand, strengthened its position in the domestic market by targeting the young consumer base with 'vegan' as its forefront. It then turned its eyes to overseas markets, rapidly expanding its sales share, focusing on Japan and Southeast Asia. In Japan, a representative strategic market for Amuse, where more than half of its overseas sales are made, it received a good response by focusing on lip tints and cushions that maintain makeup even in hot and humid summers. Amuse's overseas sales share in the second quarter of this year is close to 30% of the total.
Skin1004 achieved sales of 282 billion KRW and operating profit of 82 billion KRW in the first half, already surpassing last year's annual performance. It is a representative brand that turned its eyes overseas early as the domestic market reached saturation. After being acquired by Craver in 2016 and undergoing rebranding in 2019, it began full-scale overseas expansion starting with Southeast Asia. It first targeted Singapore, Indonesia, and Malaysia, where English is widely used and import regulations are loose. The rapid increase in local recognition through user reviews on social media such as YouTube was a strength. In particular, product development tailored to the climate and skin type of each market acted as a strength. 'Madagascar Sun Serum' is a case that improved the stiff sunscreen formulation that Western consumers found uncomfortable, implementing a light and moisturizing feel. After its release, it received a good response, ranking first in the sun care category on Amazon in the U.S., leading to record performance in the first half of this year. A Skin1004 official said, "Securing large distribution channels and local customized marketing strategies based on overseas expansion led to substantial results."
Dalba is also breaking its record performance. Since its launch in 2016, it has quickly made a name for itself with the spray serum known as 'Flight Attendant Mist.' The convenience of being able to spray it frequently over makeup even in dry environments like inside an airplane spread by word of mouth, securing a consumer base both domestically and internationally. The differentiation strategy of emphasizing the luxurious image with the 'Italian White Truffle' ingredient was successful. Domestically, it established itself as a steady seller centered on Olive Young, and overseas, it expanded its sales network by entering large distribution channels such as Costco. An industry insider said, "The fact that it settled in the market with summer sunscreens following the mist, a strong item in winter, reducing seasonal dependence, also became a foothold for steady growth."

These K-Beauty indie brands are expected to continue their global expansion trend by pioneering new markets in the second half. Amuse is preparing to enter new markets such as the Middle East, Australia, Russia, and Mongolia. An Amuse official said, "This year, we plan to operate the brand under a strategic plan to develop new markets and strengthen global recognition." Skin1004, which is showing explosive growth in emerging markets such as Africa (+512%) and South America (+711%), is pursuing overseas sales expansion and market diversification. Kwak In-seung, the head of Skin1004, said, "We plan to maximize overseas sales by proactively discovering emerging markets." 
clean@fnnews.com Lee Jeong-hwa Reporter