TONYMOLY Set To Lead K-Beauty March Across Globe With Aggressive Expansion Strategy

TONYMOLY, one of Korea’s fastest growing brands and manufacturers of some of the most popular snail extract creams in the market, have emerged as an industry leader for the K-beauty sector, spearheading the industries expansion around the world. The brand, which went public in July of last year, has so far successfully established a foothold in both the US and Europe over the last few years. Now they plan to mobilize the bulk of their resources to aggressively expand throughout China and Southeast Asia as part of their strategy to become the leading player in the K-beauty sector. “We will do whatever it takes to expand our presence in China to bolster our sales to 1 trillion won by 2020,” said Bae Hae-dong, TONYMOLY Chairman, at a press event to mark the brand’s 10th anniversary. “We will double our sales to 2 trillion won in 2025. We will continue to expand research and development to introduce a number of best-selling beauty products and boost customer satisfaction.” The brand expect to post sales of 260 billion won, both domestically and overseas, up from 219.9 billion won last year. TONYMOLY recently opened the doors to it’s flagship store in Shanghai, a move that was seen as the first step in it’s aggressive push into the world’s second-largest economy this year. “We recently resolved legal issues with the former sales agent in China,” said Bae. “So, this has cleared all our obstacles to bolstering our business there. In April, we established a sales subsidiary in Qingdao. From 2017, we also plan to run a plant in China. In addition to setting up directly managed brand stores, we are talking with Chinese retailers to set up shops inside their outlets.” The company currently operates 60 concessions in department stores throughout China and plans to increase this to 200 before the end of this year. Bae also commented on the brands recent success in both Europe and the US, making inroads into each respective market. “We are the first Korean cosmetics brand to set up a shop-in-shop at Sephora outlets,” said Bae. Adding that “This is an important milestone, not only for TONYMOLY, but also for the nation’s cosmetics industry. This shows that Korea’s cosmetics brands have earned global recognition. We will continue to bolster our brand image as a global cosmetics leader.” TONYMOLY now operate 7,700 retail outlets in 41 countries worldwide, with 676 of these in Korea. “We will introduce a range of beauty products targeting women in their 20s under the slogan of Witty Beauty,” Bae said. “When our goods become popular with trend-savvy young women, those in their 30s and 40s, who use beauty products to look younger, will take notice of this and become our loyal customers.”