GS Retail changed the brand name of its beauty and healthy shop Watsons to “lalavla” on 7th February 2017.
Millennial hallmarks
Representing “blahblah”, laughter and chatter, the new name and revamped image are aimed towards attracting millennial adults in their 20s and 30s, according to a recent report by The Investor.
With the redesign — including refurbishment and a new logo — due to be complete by the end of March, GS Retail will also vary its product selection to advocate natural, organic and eco-friendly items to appeal to socially-conscious and younger consumers.
In the pipeline
Korean retailer, GS Retailer, acquired Watsons Korea’s total number of share as it planned to boost its beauty and healthcare arm. It first large-scale project since the acquisition a year ago, along with the rebrand, the company will also renovate the interior of the beauty stores to reflect its new younger brand image.
In 2005, GS Retail and AS Watson Group entered into a joint venture to establish the health and beauty store, Watson Korea, throughout Asia.
Then, in February 2017, GS Retail bought the remaining 50% of the local operating chain and began planning its rebranding strategy, Pulse Korea reports.
Separating from the competition
In the second half of 2017, GS Retail opened 60 stores, taking its total number of operating Watson stores in Korea to 188. The company also has plans to extend this expansion in 2018 by opening more stores.
This growth marks GS Retail’s plans to forge a strong market position in the beauty and health market through its brick-and-mortar stores.
It also places a strong emphasis on its eco-friendly brand positioning through its natural ingredient-based colour cosmetics items, organic product range and recyclable packaging.