[Exclusive] Shinsegae International to Open Exclusive Eve Lom Store... "Accelerating Brand Strengthening"

La Perba's Top Seller Eve Brom... Opening Exclusive Store in Department Store Next Month
Fashion Brand Launches Continue... Achieving Balanced Growth in Cosmetics and Fashion

[Asia Economy Reporter Lee Seon-ae] Shinsegae International has been expanding its territory by continuously introducing overseas fashion and cosmetics brands. The company plans to achieve balanced growth across its cosmetics and fashion businesses by steadily discovering and strengthening new brands with high growth potential.

According to industry sources on the 24th, Shinsegae International will open a standalone store for the British luxury skincare brand EVE LOM in early March. The standalone stores will be primarily located in the four major department stores (Lotte, Hyundai, Shinsegae, Galleria).

EVE LOM is a luxury skincare brand launched by the UK's top skin experts, specializing in cleansing and exfoliation functions. Shinsegae International signed an official domestic licensing agreement in 2016 and began official sales in the Korean market through its own beauty select shop La Ferba. EVE LOM is stocked in overseas high-end department stores such as Bergdorf Goodman, Harrods, and Neiman Marcus, as well as premium esthetics both domestically and internationally. It is well known as the 'life cleanser' favored by Hollywood stars Sienna Miller and Rosie Huntington-Whiteley, as well as Korean celebrities Han Hye-jin and Park Soo-jin.

In particular, EVE LOM's bestseller product and La Ferba's top-selling item, the 'cleanser,' has been a representative product of the brand that popularized balm-type cleansers in the beauty industry since its launch in 1986. It is an unparalleled presence in the cleansing world, enjoying explosive popularity with repeated sell-outs and restocks. This product allows deep cleansing without skin damage or dryness, effectively removes all makeup including waterproof mascara in a single use, and features skin soothing and softening effects, radiance enhancement, and antibacterial properties.

Evlome Cleansing Oil Capsule.

As word of mouth about the product spread, it has maintained its position as the top-selling brand within La Ferba. A Shinsegae International official explained, "We prepared to launch it as a standalone brand because it established itself as La Ferba's top-selling brand and we judged its growth potential to be significant." EVE LOM is the second brand to be launched as a standalone after being sold through La Ferba, following the Spanish ultra-premium cosmetics brand Natura Biss?.

Shinsegae International plans to diversify its business portfolio by operating overseas beauty brands such as Hourglass (makeup), Byredo (perfume), Diptyque (perfume), and Santa Maria Novella (skincare and perfume), thereby strengthening competitiveness for sustainable growth in the cosmetics sector.

This year, the company is also preparing to launch its own new cosmetics brand, LOIVIE. LOIVIE is a lifestyle beauty brand targeting millennials, designed with the concept of 'HwaHae Free'?meaning it does not use 20 harmful ingredients managed by the cosmetics application HwaHae (a cosmetics ingredient search app)?for consumers who carefully check product ingredients before purchasing. The brand will include skincare, body products, and baby products.

The fashion business is also accelerating its expansion by launching new brands one after another. In January, Shinsegae International secured the domestic licensing rights for Giuseppe Zanotti, Italy's representative luxury shoe brand, strengthening its luxury shoe business. This move targets the growing luxury shoe sales driven by the MZ generation (millennials + Gen Z), who have emerged as the main buyers in the luxury market.

In February, the company launched 10MONTH, a sustainable fashion brand without seasonal distinctions, to enhance the competitiveness of its own fashion brands. 10MONTH is a brand that sells clothes wearable for 10 months of the year regardless of season or trend, focusing on basic items for all styles made with a good fit and high-quality fabrics. It will be sold exclusively through the company’s online mall S.I.VILLAGE, aiming to boost the competitiveness of its online platform as well.

Meanwhile, Shinsegae International continued its sharp growth trend by recording its highest-ever performance last year. Thanks to the strong performance of its cosmetics and overseas luxury businesses, the company posted consolidated sales of KRW 1.425 trillion and operating profit of KRW 84.5 billion in 2019, marking remarkable increases of 12.9% and 52.2% year-on-year, respectively. A Shinsegae International official said, "We plan to strengthen the competitiveness of each brand, from fashion, which is the foundation of our business, to beauty and living categories that have become new growth engines, and achieve balanced growth across the entire business."