The K-beauty market has an estimated value of $10bn and its brands are highly sought after by international consumers.
Kolmar Korea has joined e-commerce giant Amazon to support the successful global market entry of K-beauty (Korean-made beauty) brands.
Kolmar Korea jointly hosted the Amazon K-Beauty Conference Seller Day with Amazon on 27 June 2024 at the InterContinental Hotel in Seoul, Korea.
The event was attended by 1,500 people, including officials from Korean beauty brands and from the distribution and manufacturing sectors, both online and offline.
Kolmar Korea showcased a large-scale booth of skincare, make-up, sun care and cosmetic packages, and provided customised consultations for the global cosmetics business.
The K-beauty market has an estimated value of $10bn and its brands are highly sought after by international consumers. Sales of K-beauty products on Amazon’s global store rose more than 75% in 2023.
Kolmar Korea has secured new contracts with 253 customers, predominantly indie brands, marking a 48.7% increase from 2023. The two companies plan to keep identifying standout brands that drive global market trends with compelling concepts and innovative technologies.
In his welcome speech, Kolmar Korea vice-president Sang-hyun Yoon stated: “We hope this event will be a cornerstone in exploring global opportunities for K-beauty and sharing detailed strategies for implementation.”
Other key attendees included Amazon global selling Asia Pacific (APAC) executive vice-president Jim Yang and Amazon Japan head of consumer beauty business Yuki Suita.
Source from Retail Insight Network
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