Shinsegae to sell Yunjac cosmetics at duty free
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South Korean retail giant Shinsegae is launching an independent Yunjac cosmetics store at its Myeongdong duty free outlet. The cosmetics shop, which will open on February 2, retails Asian herb-based skincare products. Launched in October last year, it is Shinsegae’s first in-house cosmetics brand, targeting Chinese millennials. A statement from the company said the opening is ahead of schedule thanks to unexpectedly high demand, with sales exceeding last year’s expectations by a factor of four.
Three Shinsegae Department Store branches currently host a Yunjac outlet, with more stores planned to open within Korea and abroad shortly. It is targeting sales of KRW100 billion (US$89 million) by next year.
Questions & Answers
Q.What kind of products does the Yunjac brand offer?
What kind of products does the Yunjac brand offer?
Yunjac specialises in Asian herb-based skincare products. It is Shinsegae's first in-house cosmetics brand, launched last October, focusing on the needs of Chinese millennials.
Q.Why is the Myeongdong duty free store opening sooner than planned?
Why is the Myeongdong duty free store opening sooner than planned?
The independent Yunjac cosmetics store at Myeongdong duty free is opening ahead of schedule due to unexpectedly high demand for the brand. Sales have exceeded last year's expectations by four times.
Q.What are Shinsegae's sales targets for Yunjac?
What are Shinsegae's sales targets for Yunjac?
Shinsegae is targeting sales of KRW100 billion (US$89 million) for its Yunjac brand by next year. This indicates significant ambition for its in-house cosmetics venture.
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