Kolon FnC's Bold Move: "A Never-Before-Seen Moisturizing Cream Has Arrived"

Launch of Moisture Specialist 'Likewise'

Diversification of Formulations by Type Considering MZ Preferences

Two Pillars of Beauty Business with Mquery

[Asia Economy Reporter Yujin Cho] Kolon Industries FnC Division (hereinafter Kolon FnC) has launched a new challenge in the beauty business with the moisture-specialized brand 'LikeWise.' LikeWise is the second beauty venture following 'Mquiry,' which was first introduced in May last year.

Choi Soo-oh, Team Leader (Director) of the LikeWise Task Force (TF), said on the 17th, "LikeWise, along with the renewed Mquiry to be launched next year, will lead Kolon FnC's beauty business," adding, "LikeWise, with its reasonable price range, and Mquiry, targeting premium demand, will become the two pillars of our beauty business." LikeWise means 'enjoying myself with wise and clear thoughts,' focusing on moisture products containing safe ingredients and technological expertise.

Under the slogan 'Direct Moisture Delivery,' three formulations tailored to different skin types were introduced. These include 'Water Gel,' which instantly supplies moisture upon contact with the skin; 'Cream and Cream,' which gently melts to provide dual moisturizing effects; and 'Cream Balm,' which adheres tightly to the skin for high moisturizing effects. This approach aims to satisfy the discerning tastes of the MZ generation (Millennials + Generation Z) while considering cost-effectiveness.

Another distinctive feature is that each formulation is entrusted to different manufacturers (contract production) to ensure differentiation. Director Choi emphasized, "Each manufacturer has different strengths, and the quality of formulations they can produce varies greatly," adding, "We maximized product quality by reflecting the consumption patterns of the MZ generation." A proprietary technology (MTD) that delivers active ingredients deep into the skin is also a strength. Plans are underway to diversify the product lineup with the moisturizing line 'Super Charge,' cleansing line 'Moist Up,' and sun care line 'Be Safe.'

LikeWise was developed over nine months by a TF team of 12 members, including five external experts. To study the preferred formulations and items of the MZ generation, extensive surveys through agencies, in-depth analysis of target customer groups, and continuous product evaluations and improvement meetings with trend-sensitive expert groups were conducted in an intense development process.

The challenge of difficult product trials due to online-only sales will be addressed through a 'sample promotion.' Director Choi explained, "It is true that there are limitations in raising initial brand awareness without word-of-mouth through testing," adding, "We are planning promotions where mini sample packages can be purchased for a small amount of 1,500 KRW without shipping fees."

The plan is to increase recognition by encouraging experimental purchases at low prices followed by repurchases. Director Choi emphasized, "Launching a new brand exclusively online, where there is no direct contact with consumers, is a significant experiment in a situation where demand has collapsed due to COVID-19," adding, "This challenge was possible because we had confidence in the product quality."