Innisfree to expand in India as Korean cosmetics grow in popularity
today Jul 31, 2017
Innisfree, a Korean cosmetic company and the first of its kind to enter India with 100 percent FDI approval, plans two more store openings in Mumbai this year.
The cosmetics brand currently has five stores located in Mumbai and New Delhi and, along with two new stores planned for Mumbai this year, the brand plans to expand to Bengaluru and Kolkata next year. Doyoul Lee, Managing Director for Innisfree India, explained that, after expanding into Southeast Asia, India was the priority for South Asia for the brand’s parent company AmorePacific.
Lee attributed the brand’s success to a shift in consumers’ tastes in beauty products towards chemical free and natural items. Innisfree makes products such as BB and CC creams, cushion technology, make up, and facemasks that are advertised as simple, chemical free, and high quality.
K-beauty is becoming increasingly popular in metro cities as well as online. However, smaller cities in the Northeast are also driving the company’s sales. “North East regions have big followers of Korean culture, K Pop music and Korean dramas. They even follow the 10-step Korean beauty ritual”, remarked Mini Sood Banerjee, Innisfree India’s Marketing Manager.
Innisfree products are available on the popular e-commerce site Nykaa along with a host of other Korean brands. As K-beauty continues to grow in popularity, Innisfree plans to increase its physical presence in India’s retail market.
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