The firm, which owns brands such as Missha and A’pieu emphasised the importance of “continuously strengthening its brand competitiveness” in China’s beauty market.
Able C&C said it considers China as one of its most important markets globally.
It highlighted data from the Korea Custom Service, which reported that China remains the largest export market for cosmetics this year from January to May at US$1.05bn. The US followed at US$720 million, and Japan with US$410 million.
The firm has laid out strategic plans to reinforce its competitiveness in China through the expansion of online channels and collaborations with KOLs.
Over the recent 6.18 mega shopping festival, Missha recorded a sales increase by 51% compared to the previous year.
“Through the success of the 6.18 Shopping Festival, we were able to confirm Missha’s brand awareness and product competitiveness in the Chinese market once again,” said Lim Jun-won, Missha China branch manager.
In particular, sales of its M Perfect Cover BB Cream increased by 21% year-on-year.
According to the firm, this product, nicknamed the Reb BB (红BB) has become popular among Chinese consumers in their 20s and 30s for its reasonable price and shades suitability.
In 2020, the product hit record sales with over 130 million units sold worldwide.
The company reported that after the mega sale, the M Perfect Cover BB Cream recorded the second-highest number of repeat purchases on China’s major e-commerce platform, Tmall.
The company attributes its recent success to collaborations with famous influencers.
It also conducted live commerce broadcasts on Kuaishou with a KOL that had over 40 million followers on the platform.
The firm said its initial stock sold out completely and drove the momentum for strong sales performance overall.
Kuaishou is a popular Chinese short video and live-streaming platform. The platform has been considered a leader in live-streaming e-commerce.
The platform allows users to purchase products directly through the app during live streams, making it a powerful tool for brands and influencers to drive sales.
The firm considers its success on 6.18 to be a significant triumph as the Chinese market has been a shaky environment for Korean beauty brands in recent years.
It cited factors such as the Terminal High Altitude Area Defence (THAAD) retaliation, the advancement of local Chinese beauty brands, and the decline in consumer sentiment that have contributed to K-beauty’s diminishing influence in China.
Lim concluded: “We will closely monitor the latest trends of Chinese consumers who value rational consumption and seek additional growth through localised marketing.”
