Korea's It's Skin heads for India expansion

By Lucy Whitehouse

- Last updated on GMT

Korea's It's Skin heads for India expansion
One of Korea’s major cosmetics firms has reportedly announced its intention to expand into India, as its popularity across the Asia region continues to grow.

According to Yonhap News Agency​, the company will sell 120 of its leading products through distribution via Indian retail giant, Dabur. It will initially launch in the country within Dabur’s ‘New U’ beauty stores.

Alongside this, It’s Skin will be making efforts to establish a standalone presence in the country too, and reportedly intends to open 10 shops in the capital, New Delhi, on launch, expanding this to 20 within a year.

It’s Skin’s most recent sales posting was up 28% year-on-year, at 309.6 billion won (US$255 million). The strong growth has been thanks to its successful moves to expand in the wider region, and has already set up shop in Japan and China.

Asia expansion

The move follows similar recent  expansion activity in Asia, such as the acquisition by the number one online retailer in China, Jumei, of a minority stake in the company last summer.

Leo Ou Chen, CEO of Jumei, confirmed that this move was in response to the rising popularity of the brand among Chinese consumers, but also to facilitate the brand’s international growth too.

"The popularity of Korean beauty products in China has grown rapidly over the past few years. With an extensive catalogue of prestige products, It’s Skin is an ideal partner for Jumei to collaborate with as we build Jumei Global into the largest cross border e-commerce platform in China.

“It's Skin will greatly benefit from the growing size and scale of our platform."

Snail’s pace

It’s Skin drew global attention last January when it emerged the brand’s ‘snail slime’ face cream, ‘Creme D’escargot’ was seeing an impressive rate of sale.

According to a brand rep who spoke to Business Korea at the time, "One of the products sells every 6 seconds all over the world, and its sales are expected to exceed 5 million soon, if the trend continues​."

The brand’s continued expansion suggests that having unusual products in your offering does not slow you down.

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