The drive for natural fragrances is being fuelled by the growing consumer awareness and interest in fragrance, which started during the COVID-19 pandemic.
“Now seems to be the time to develop our business in the Korean market. The skin care market might be very saturated in Korea, but there are still opportunities for natural fragrances,” said Milie Durante, sales manager, Florihana.
She told CosmeticsDesign-Asia that consumers see natural fragrances as a safer and cleaner option over synthetic fragrances.
The firm has observed major opportunities in the natural skin care space, primarily in the premium segment.
“The best way to have a natural fragrance is to use an essential oil. We are looking at the more premium end [of the market], because of the price of essential oils,” said Durante.
At the same time, Florihana is also eyeing emerging opportunities in the fine fragrance category.
“We are seeing more workshops in Korea where people come to make their own fragrances. And there are more local players, the niche fragrance brands that are making very high-quality products,” said Durante.
Durante said the niche fragrance space is likely to continue growing in Korea in line with rising interest.
“People now want to be original, and everyone wants to be different. These prices are higher, but I think people are willing to pay the price for it.”
CosmeticsDesign-Asia has previously reported Korea’s rising interest in luxury niche fragrance brands such as Diptyque and Ex Nihilo.
Korean retailer Shinsegae International said that economic uncertainties have not deterred consumers from purchasing these luxuries, believing that they have replaced lipstick as the new recession-proof commodity.
It recently announced that it had inked exclusive distribution deals with brands Heeley and Culti Milano as it seeks to strengthen its position in the rapidly growing category.
Tapping into emerging markets
Florihana is a distillery based in the South of France and founded and run by a French-Japanese family.
The firm was exhibiting at ingredients trade show, in-cosmetics Korea, for the first time this year.
The firm is already working with customers in China, Japan, and Taiwan. Aside from Korea, it is also eyeing opportunities in emerging markets, such as South East Asia, where the interest in fragrance is growing rapidly.
Durante highlighted interest in Indonesia, Malaysia, and Thailand, where the company is focusing its expansion efforts.
With its roots in both France and Japan, the company believes it can serve the Asian markets more effectively, as they have a solid understanding of the consumer likes and dislikes in the region.
In addition to supplying raw materials, the firm also develops an eponymous brand, which is available in markets such as Japan and Taiwan, where it is available via its standalone stores.