Feb
06
Chinese Opt For Korean Imports Over Western Beauty Brands
Posted in: Uncategorized
South Korea gave the world Samsung and Gangnam Style, but don’t overlook its funky beauty exports: Snail slime facial masks. Fermented cosmetics. Bee venom skin creams.
Those Korean products, along with more conventional beauty fare, have gained international fans, especially in China, where South Korean brands are taking market share from established Western players.
China’s $16 billion cosmetics and skincare market is healthy despite an economic slowdown, and 2013 growth is expected at around 12-13%, according to Mintel research. Still, some Western brands have lost their footing.
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