With the Korean Wave sweeping across India, the country with a population of 1.4 billion, K-beauty brands are rapidly expanding their presence.
SKIN1004 announced on the 25th that it has entered nine major local platforms, including India's largest beauty e-commerce platform 'Tira', as well as 'Nykaa' and 'Amazon'. In particular, Nykaa, known as the 'Olive Young of India', is a popular online and offline platform frequented by local beauty enthusiasts, which is expected to help raise brand awareness.
To target the Indian market, SKIN1004 is partnering with Nykaa to hold a product launch event. The event, scheduled for the 27th, will invite beauty creators such as popular actress Chris Gayle, who has over 7.6 million Instagram followers. Master classes will also be held to allow attendees to experience SKIN1004's representative products, such as 'Madagascar Centella Ampoule' and 'Madagascar Centella Light Cleansing Oil'.
Recently, there has been a surge in demand for K-beauty in India, driven by beauty influencers and communities. According to market research firm Mordor Intelligence, the K-beauty market in India is expected to grow by an average of 9.4% annually until 2026. The overall beauty market in India is also growing rapidly. According to Statista, the size of the beauty and personal care market in India is expected to reach US$33.1 billion (approximately 47.33 trillion KRW) this year.
Amorepacific and Cosmax also cited India as a key emerging market in their recent earnings announcements. Amorepacific is partnering with Indian quick commerce platforms 'Blinkit' and 'Zepto' to provide a service that delivers Laneige, Innisfree, and Etude products within 10 minutes. Cosmax is also expanding its network by discussing product development with local partners.
However, there are differing views on whether India will become the next key market for K-beauty after the US and Europe. An industry official said, "While India's growth is certain, the market is not as transparent as the US and Europe, making it difficult to establish local corporations. A cautious approach is needed to avoid repeating the 'Chinese experience of K-beauty'."
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