Aekyung Industrial (018250) is moving to expand sales in its hair care business through brands including Black Foret, a line specializing in hair loss care, as Korean hair care products gain traction in global markets.
"Our goal is to raise hair care's share of Aekyung Industrial's revenue from about 20% now to around 25% next year," Jeon Hyun-jung, head of the company's hair care division, said at a press briefing in Seongsu-dong, Seoul, on the 4th. "Since Aekyung Industrial's overall revenue volume will grow in two to three years, there will be many tasks to accomplish, but we are preparing several new businesses, so you can look forward to it."
Aekyung Industrial, acquired by Taekwang Group in March this year, has been accelerating a shift away from its traditional focus on household goods, setting up new skin care and hair care divisions. Hair care is where the company is investing most heavily. Korean beauty products, long centered on skin care, have broadened into hair care since the start of the year, driving a sharp increase in exports.
"As Aekyung Industrial's hair care brands have successfully expanded overseas, the global share of total revenue has passed the halfway mark," Jeon said. "Backed by these results, we are further accelerating our push into global markets." She added that the company is "performing well in Russia and the Commonwealth of Independent States, as well as in the Americas and Europe," crediting a strategy of understanding different environments, cultures and consumer needs in each country and developing products optimized for those markets.
In Russia and the CIS region, where masculinity is emphasized, the company released separate men's products, while in markets such as the Americas and Europe, where Korean beauty enjoys strong appeal, it launched products highlighting Korean characteristics. "In Russia and the CIS region, men consider using a unisex shampoo about the same as wearing a skirt, so we launched Kerasys men's products," Jeon said. "We are also offering products targeted to each country, taking into account differences in hair texture among consumers."
Among its various hair care brands, Aekyung Industrial is focusing on Black Foret, a hair brand specializing in hair loss care. "The hair loss market, once dominated by men in their 30s to 50s, is now broadening to women and to people in their 20s," Jeon said. "In particular, the market is growing beyond shampoo into scalp essences and tonics." With both the customer base and the product range widening, she said, there is ample room for market growth. "Black Foret applies a self-foaming technology that generates lather on its own as soon as the contents are exposed to air," she said. "The fine foam covers the scalp delicately, delivering excellent deep-cleansing effects and keeping the scalp environment comfortable." Black Foret is currently pursuing entry into global retail channels including Watsons in Taiwan and Hong Kong and Costco in the United States.
Separately, Aekyung Industrial held a consumer event with brand model Kim Won-hoon at the Musinsa Mega Store Seongsu on the same day. Kim toured the venue and tried out Black Foret products, and took part in a guaranteed-prize lucky draw event held for customers who purchased products. The booth will operate through the 14th of this month.
