Korea's herbal cosmetics brands popular at duty-free shops

Korea's herbal cosmetics brands popular at duty-free shops

Korea’s traditional herbal cosmetics products have topped the list of best-selling brands at the country’s major duty-free shops, reflecting growing popularity of K-beauty products, data showed Tuesday.

According to the data unveiled by Rep. Hong Jong-hak, Whoo, produced by LG Life and Healthcare, posted 131 billion won ($108 million) in sales at Lotte Shopping’s duty-free shop in downtown Seoul last year, emerging as the best-selling brand at the duty-free store, followed by Sulhwasoo by AmorePacific with 92 billion won in sales.

Compared with a year earlier, the two cosmetics brands saw a 96.4 percent spike and a 45.7 percent rise in their respective sales. In 2014, the two brands ranked fifth and sixth in sales at Lotte Shopping’s store.

In contrast, French luxury brand Louis Vuitton, which maintained the top ranking between 2010 and 2013, was relegated to the third spot last year with 67.1 billion won in sales, a sharp drop of 26.1 percent from 91 billion won in 2014.

Cartier, another luxury brand, also suffered a setback last year, posting 56.4 billion won in sales, compared with 81 billion won in 2014, the data showed.

Sales of Korea’s herbal cosmetics brands were also brisk at Hotel Shilla’s duty-free shop in Seoul. Whoo and Sulhwasoo each came in first and second with 80 billion won and 68.3 billion won in sales at the duty free store last year.

Buoyed by firm demand from foreign visitors, AmorePacific’s sales at such stores topped 1 trillion won last year. LG Life & Healthcare also saw its sales at such shops almost double to 637 billion won.

Source : http://www.koreaherald.com/view.php?ud=20160216000417

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