Shinsegae International Company trading arm will undertake further expansion of its its house beauty brand Yunjac.
On 2nd February, Shinsehae Group will open an independent Yunjac store at Shinsegae Duty-Free outlet in Myeongdong. Yunjac is an Asian herb-based skincare product brand launched in October by Shinsegae International. Also, it is supposed to be the first cosmetic company that the group has launched.
Targeting the Chinese millennials with high affinity towards luxury Korean cosmetics the company has identified its core audience and are willing to take steps to compete in the tough market. As the company quadrupled its sales forecast last year, it now aims to achieve around $90 million by 2020.
Currently, Yunjac cosmetics are available at three of Shinsegae Department Stores. In addition to that, the response for the brand has been immensely positive therefore the group has decided to open an independent store ahead of schedule.