Smells like team spirit: Shinsegae, Bath & Body Works partner on Korean market entry
이 글자크기로 변경됩니다.
(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.
Shinsegae Department Store will bring Bath & Body Works to Korea as it seeks to expand its reach in the domestic beauty and personal care market.
The two parties signed an agreement on the exclusive distribution of the U.S. brand's products, the Korean company said Wednesday.
The products will be in the Sweet Park, the newly unveiled dessert destination on the basement floor of the Shinsegae Department Store in Gangnam District, Southern Seoul starting Friday.
Through the store, Shinsegae will provide 301 products including scented body wash, body lotion and hand cream as well as scented candles boasting rich scents.
Founded in 1990, Bath & Body Works offers over 250 different scented body washes, lotions and scrubs as well as fragrance products such as candles. It currently has around 2,000 offline stores in 43 countries from North America and Europe.
Shinsegae will beef up its competitive advantage in the country’s beauty and personal care market with the help of Bath & Body Work’s strengths in fragrance, with the U.S. company's crown jewel Gingham fragrance slated to be introduced first.
The size of Korea’s fragrance market continues to grow. According to a report by Expert Market Research, the market is expected to grow 6.3% annually from $456.43 million (620 billion won) in 2023 to $793.16 million by 2032.
“As we are the sole distributor of Bath & Body Works in Korea, we will lead a new trend in the domestic fragrance market,” said a Shinsegae official, adding that the retail giant will continue to introduce unique and differentiated scent-related products.
The beauty products of Bath & Body Works will be available through Sweet Park, SSG.com, Chicor.com, S.I.VILLAGE starting May 24, and on KakaoTalk Gifts in June.
BY CHOI HAE-JIN [choi.haejin@joongang.co.kr]
Copyright © 코리아중앙데일리. 무단전재 및 재배포 금지.
- Concerts over cosmetics: Korea's tourism posts biggest deficit in 5 years
- Nerve agent powder discovered in passenger's bag at Incheon Airport
- Naver at risk of losing Thailand, Taiwan messenger businesses
- [단독] 한국에 온 머스크의 칼… 테슬라코리아 희망퇴직 단행
- SNU grads arrested for fake pornography of women on campus
- Convicted rapist Jung Joon-young leaves prison after five-year sentence
- Korean among injured after severe turbulence hit Singapore-bound flight, killing British man
- Estranged wife of SK chairman claims husband spent over 100 billion won on live-in partner
- Fans flock to 'Lovely Runner' pop-up store in Yeouido
- Koo Ha-ra played pivotal role in exposing the Burning Sun scandal: BBC