Etude House sees huge potential in Malaysia
Firm to ride on K-Pop and Korean drama popularity in country
SOUTH Korean cosmetics company Etude House, which recently opened its flagship store, here, sees massive growth potential for the brand in the country.
This potential, according to its chief executive officer Geumjoo Kwon, is largely based on the back of South Korean trend in Malaysia.
“The growth of South Korean cosmetics in Malaysia, and subsequently our brand as well, can be attributed to the growing interest in pop culture, exemplified by K-pop idols or TV dramas,” she said.
“I was told there is a great number of ‘Hallyu’ (K-Wave) fans in Malaysia. I think the K-trend (KWave) will continue as it is associated not only with idols or actors but also with lifestyle in general, encompassing fashion and makeup.”
This growth of South Korean cosmetics in Malaysia, is not however, without challenges.
“Malaysia is one of the world’s most complex markets, where potential customers have a wider range of skin tones and lifestyles. As a result, we need to put extra effort in products and services to fulfil these various needs,” said Kwon.
“Meanwhile, along with a growing interest in K-beauty trends, many customers in Malaysia have good impression about Korean products and makeup, which is definitely an advantage for Etude House.”
This massive interest also puts Malaysia on top of the company’s Asean market list. This was further underlined when the company opened Etude House flagship store in Sunway Pyramid, just last month.
According to Kwon, the new flagship store has over 900 Etude House products, including best sellers and new arrival.
The company will also continue to introduce trendy and innovative products to the Malaysian market as and when it is ideal to do so.
“I believe among Asean member countries, the Malaysian market has the highest growth potential. In fact, it has been our goal to open a flagship store in Kuala Lumpur, and introduce the new core values of Etude House to a wider range of customers,” she said without divulging the actual cost of the investment.
Kwon, however, did share that the company was on the lookout for more strategic locations in Malaysia.
Etude House, alongside Sulwhasoo, Laneige, Mamonde and Innisfree, are the five flagship brands of South Korean cosmetics giant Amore-Pacific Group, which had just last year invested RM619 million by setting up an integrated centre for research and development, and manufacturing in Johor.