Recently interviewed by Premium Beauty News, Sandra Maguarian and Jean-Yves Bourgeois, co-founders of Beauteam, had made no secret on the fact that this project was taking shape very quickly. “Faster than expected”, they even admitted a few days ago, “given the success of both the editions in Paris and New York, it was logical for us to question ourselves on the opportunity of creating in Asia a similar concept.”
Not that simple, however, to select the country and especially the city that would enable to recreate successfully this winning combination that calls for a few key ingredients: An upscale and friendly venue in the centre of a capital city close to main local make-up brands; a country where make-up is an integral part of consumers’ daily lives and where a subcontracting industry acts as a real economic force.
As of 2014!
Why faster than expected? “Simply, Beauteam officials explain, because our industrial partners exhibiting in Paris and in New York, whether they are European, American or Korean, advised us to continue the adventure as of next year in Seoul.” Good spots to exhibit in Asia are not that many: Shanghai, Tokyo, Seoul, Hong Kong, Singapore? As for the date? Not easy either! Simply enough, the success also lies in the proper choice of a date relative to other global events in the beauty industry, but also in the proper choice of the season.... Mid March seemed to be the perfect time.
The winning combination!
“The more we focused on the project”, explain the organizers, the more Korea seemed to be the perfect match. ” A country where, as everyone knows, the “make-up culture” is particularly strong.
The Korean cosmetics market is very polarized since about 65% of sales are shared by two product categories: facial (49%) and make-up (16%). [1] “During the recent period, explained Richard Cymberg, in an article published on the blog of French Foreign Trade Advisors in Koera, the cosmetics market has been very dynamic, boosted by the increased purchasing power of households, the dynamism of department stores and the emergence of new distribution channels: the ’brand shops’, drugstores and the internet.”
According to UbiFrance, South Korea is the third market in Asia-Pacific for cosmetic products. “Korean women, but also Korean men, are highly aware of the personal appearance. The market is characterized by a high consumption rate from consumers requiring cosmetic products of high quality and immediate effect in a beautiful packaging,” said the French foreign trade office.
A strong subcontracting industry
“Given the plethora of cosmetic brands in the Asian region and particularly in Korea, it seemed natural for a strong outsourcing industry to emerge and flourish in this country in recent years, ” said Jean-Yves Bouregois, Beauteam co-founder.
A well established industry whose structure and messages, which have set the bar very high, in terms of quality, sophistication and environmental standards, clearly reflect its weight in the economic circuit and the challenges imposed by a highly demanding sector in terms of innovations. “A number of manufacturers were clever enough to seize this opportunity and take the lead in R&D and manufacturing capabilities,” he added.
“So Seoul will be the place! A capital city with a winning combination! A two-hour flight from Shanghai and Tokyo,” concluded the organisers.
