Shinsegae Targets Europe and US with Luxury Cosmetics Brand 'Ppoare'

A Decade in the Making: Aspiring to Develop a Top Luxury Brand
Store Openings in Paris, France and New York, USA, Taking on the Cosmetics Capital

[Asia Economy Reporter Lim Hye-seon] Shinsegae is heading to the U.S. and European markets, the "birthplace of cosmetics," with its top-tier luxury brand Poiret (POIRET).

Poiret is a brand embodying Shinsegae's long-held dream to create a global luxury brand. The idea was conceived over 10 years ago and took shape in 2015 when Shinsegae acquired the trademark rights to "Paul Poiret."

Shinsegae Focuses on Cosmetics Business

On the 22nd, Shinsegae International launched makeup and skincare lines that reinterpret the philosophy and heritage of Paul Poiret, which has a history spanning over 100 years, in a modern way. Only the finest ingredients were used, based on cutting-edge technological innovations.

For color cosmetics, over 90 diverse products were developed based on Paul Poiret’s philosophy that "various designs must exist so that every woman’s individuality is respected." To suit overseas markets with diverse races and skin tones, the range of shades for base makeup products was expanded, and conventional product descriptions such as "skin tone" were excluded.

Great care was also taken in packaging and design development. Product names are written in French according to the brand’s tradition, and the packaging features a luxurious gold tone and a unique texture reminiscent of leather. Price ranges are as follows: serums from 220,000 to 680,000 KRW, creams from 255,000 to 720,000 KRW, and lipsticks at 82,000 KRW.

A Contemporary of Chanel in Its Era

Poiret was founded in 1904 by French fashion designer Paul Poiret and was a prominent brand alongside Chanel. It was innovative enough to be the first fashion brand in the world to launch a perfume in 1911 and is famous for designs that liberated women from corsets. The fashion house closed in 1929 when the designer retired.

Shinsegae International needed a brand with a long tradition and unique story to enhance competitiveness in the global market. They judged that combining Paul Poiret’s spirit and influence with Korean technology and marketing know-how would be a winning strategy. After acquiring the brand in 2015, Shinsegae International announced the revival of Paul Poiret to the world market. In March 2018, Shinsegae International held Poiret House’s first fashion show at Paris Fashion Week. The Washington Post described it as "an incredible comeback stage for one of the most influential design houses of the 20th century."

Competing as a Luxury Brand in Europe and the U.S.

Shinsegae International is currently finalizing the European cosmetics certification (CPNP) process and is negotiating with local partners to open stores in Paris, France, and New York, USA. Interest in Poiret is especially high in France, and a store is expected to open next year.

Shinsegae International has bet on "luxury cosmetics." Korea already ranks first in the world in cosmetics manufacturing technology, to the extent that the world’s number one L’Or?al Group has released "me-too" products of Amorepacific’s cushion foundation. However, there is no global brand yet. Although Amorepacific entered the North American market with its cosmetics brand Amorepacific and laid the foundation, it has not yet risen to become a global brand. Shinsegae plans to nurture Poiret, which it has prepared for 10 years, into a luxury brand that can confidently compete in the global beauty market.

Meanwhile, Shinsegae International will open Poiret’s first store at the Shinsegae Department Store main branch on the 25th. By the end of this year, it will sequentially enter major domestic department stores such as Shinsegae Department Store Gangnam and Centum City branches.

Through the launch of Poiret, Shinsegae International has completed its portfolio of in-house cosmetics brands. It now has a total of five lines: Vidivici, Yeonjak, Roybi, Swiss Perfection, and Poiret. It also holds official domestic rights to 12 overseas brands, including Diptyque, Byredo, and Santa Maria Novella.