Donginbi premium cosmetics products available on e-commerce platform
Donginbi, the premium cosmetics brand of Korea Ginseng Corporation (KGC), has made inroads into Lazada to attract customers in Southeast Asian countries.
KGC announced on June 16 that the Seoul-based company’s 34 Donginbi products are now available at Lazada’s Singapore and Malaysia stores.
Included in the products are Donginbi’s representative “1899 Single Essence,” “Natural Raw Liquid Essence,” and “1899 Signature Oil,” to name but a few.
Donginbi uses the year 1899 in the titles of its products as KGC started its business in 1899.
Lazada is the Southeast Asian equivalent of Amazon. More than 100 million people from six countries _ Singapore, Malaysia, Vietnam, Indonesia, Thailand, and the Philippines _ use the platform to purchase items online.
Since Chinese giant Alibaba acquired the outfit in 2016, Lazada has more than doubled in size every year.
According to global business tracker Euromonitor, the six countries’ cosmetics market size will expand to 31.32 trillion won ($28.8 billion) next year from 22.3 trillion won ($20.5 billion) in 2018.
“In line with the rising popularity of K-beauty, we are briskly wading into the offshore markets through global e-commerce platforms,” said Lee Jung-hoon, who leads KGC’s cosmetics business division.
“By more vehemently tapping into the international online market, we will let the world know the competency of Korea’s red ginseng-based cosmetics and chalk up faster growth.”
K-beauty is an umbrella term for skin-care products made in Korea. The fad swept the world, especially in Asia, thanks in no small part to K-pop stars like the seven-piece boy group BTS.
KGC also made its Donginbi products available at Amazon last September to rack up more than $1 million in sales in eight months. The company’s Cheong Kwan Jang-branded red ginseng products set up an Amazon store in 2015.
KGC said that Donginbi uses the true essence of red ginseng as its hydrating component instead of liquid made by thinning red ginseng concentrate in purified water.
It noted that the essence is produced by steaming red ginseng at high temperatures to concentrate each droplet of steam containing outstanding hydrating energy of red ginseng.