Established in 2000, Able C&C owns a portfolio of K-beauty brands such as Missha, A’Pieu, and Cellapy.
As part of its global expansion, the company is eyeing potential in the Middle East, citing its young population and high disposable income as important factors in its decision.
The firm began strengthening its distribution network work last year. At the same time, it implemented a number of sales strategies.
These efforts led to a 315% sales increase in the first half of this year.
Moving forward the company said it will work to expand its distribution to the United Arab Emirates (UAE) and Qatar.
This expansion follows the recent success it has experienced in its overseas markets, such as Japan and the US.
Recent global successes
The company has observed a resurgence of interest in K-beauty globally lately.
In the first half of the fiscal year, its overseas markets accounted for around 56% of its total sales.
It highlighted the K-beauty “craze” in Japan which has propelled Korea to the top of Japan’s cosmetic import rankings.
In particular, Missha has been aggressively growing its awareness in Japan.
The brand started building its presence online before expanding offline. Today it is available in over 20,000 stores with retail partners including PLAZA, LOFT, Tokyo Hands, Matsumo Kiyoshi.
Building on the popularity of its makeup products such as its M Perfect Cover BB Cream, the brand is now working to expand its presence in skin care, where it sees even more potential.
In September, the brand will launch the Vita C Plus series in 33 Costco stores in the country.
The firm said this would reinforce its competitiveness in the market and positioning with its “excellent quality and reasonable prices”.
In China, where the market has generally been uncertain, Missha has recorded stable growth, according to the firm.
In particular, it highlighted its success during the mid-year 618 Shopping Festival, when it reported a year-on-year sales increase of 51%. Meanwhile, its M Perfect Cover BB Cream sales increased by 21%.
In addition to 618, Missha also experienced success on Amazon Prime Day in the US, doubling its sales year-on-year.
According to the firm, the M Perfect Cover BB Cream is currently ranked number one in the BB cream on the platform.
In Europe, the firm saw a 36% year-on-year sales increase in the first half of this year.
Missha’s popularity has been fuelled by the popularity of its BB creams, which increased by 70% in the first half of this year.
This was also attributed to the growth of its retail footprint, which expanded by more than 9,200 to around 17,000 in the first half of this year.
The firm added that in the second half of the year, it plans to aggressively expand its sales channels by targeting home shopping channels.
