Korea's Beauty Industry Booms And American Brands Follow (Beauty pro division)

That emerging market for beauty that you are looking for isn't necessarily found here in the U.S., but across the globe in Korea. While the beauty market is still holding ground here despite the economy, there are still fears of a recession and has American beauty retailers looking to foreign soil to plant their roots and grow. Korea's beauty industry is booming and we're all beginning to notice.

Korea is the home of many popular brands that are sold here in the U.S.; POINT, Charmzone, Enprani and Amore Pacific. Beauty is a longstanding tradition in Korea and something that is ingrained in girls since they are young. It's part of the culture, the tradition and has less to do with vanity (as it does in the states) as it is a way of life. So when I heard that one of my favorite beauty brands, Berwick Beauty, was launching their brand in Korea, I had to find out why.

According to Angel, co-owner of Berwick Beauty, Korea has roughly a $6 billion per year cosmetic and toiletry industry. From 2006-2007 cosmetics sales had a growth rate of 4% slightly above Korea’s domestic growth rate. In general, the country’s wealth is growing, people have more money and they spend it on new and nice things. Korea is also a country with a very long history of woman beautifying themselves. It is in-line with the Geisha girl concept in Japan--a woman must be beautiful to get the best mate.

Korea’s cosmetic industry is made up of the popular western brands that have penetrated everywhere with long term marketing (Chanel, Lancome etc.) Korea also has its own market of herbal, ancient beauty products (home grown, old fashioned etc.). Doctor brands have popped up lately from the medical field, just as they have in the US.. Of all the countries of influence in Asia, Korea is probably the most pro-western, perhaps from the long standing influence we have had in that country after the 50’s. They tend to follow U.S. trends closely and are truly open to them. Many other influential countries in Asia, for example China or Japan, might follow our trends, but do not dive into them as fast as Koreans might.

It'll be interesting to see if this trend continues as our economy remains unstable and gives others the chance to flourish. What do you think?