Jeonggwanjang Donginbi Enters Southeast Asia's Largest Online Platform 'Lazada'

Southeast Asia Cosmetics Market Expected to Reach 31 Trillion Won Next Year, Global Online Market Expands
Donginbi Surpasses $1 Million in Sales on US Amazon Within 8 Months of Entry

Han Ji-min, the exclusive model of Donginbi, is holding the representative product Single Essence.

[Asia Economy Reporter Lim Hye-seon] Jeong Kwan Jang announced on the 15th that Donginbi, its red ginseng cosmetics brand, has officially launched on Lazada, the largest online platform in Southeast Asia.

Donginbi opened an exclusive brand store within Lazada to target local consumers who are highly interested in K-beauty and to penetrate the Southeast Asian market. Lazada, often called the Amazon of Southeast Asia, is an e-commerce platform used by over 100 million people annually across six Southeast Asian countries: Singapore, Malaysia, Vietnam, Indonesia, Thailand, and the Philippines. Since being acquired by Alibaba Group in 2016, Lazada has maintained triple-digit growth rates every year, establishing itself as the fastest-growing platform in Southeast Asia.

Donginbi has opened brand stores on Lazada in two of the six countries where Lazada operates: Singapore and Malaysia. The Donginbi brand stores on Lazada feature a total of 34 products, including the flagship ‘1899 Single Essence,’ ‘Jasaeng Concentrate Essence,’ and ‘1899 Signature Oil.’ In particular, Donginbi strategically sells moisturizing and whitening line products to align with Southeast Asian beauty market trends.

Image of Donginbi Brand Hall opened on Lazada

According to the global market research firm Euromonitor, the cosmetics market size in the six Southeast Asian countries (Singapore, Malaysia, Vietnam, Indonesia, Thailand, and the Philippines) was approximately KRW 22.3 trillion (about USD 20.5 billion) in 2018 and is expected to grow to about KRW 31.3 trillion (about USD 28.8 billion) by 2022. Through this entry into Lazada, Donginbi has secured a strong online sales channel in the Southeast Asian market. The company plans to expand the countries where it operates to allow local consumers to experience a variety of Donginbi products.

Since COVID-19, e-commerce has emerged as a major consumer channel, and with the rising global status of K-beauty, Donginbi is also focusing on expanding its presence in the global online market. Starting with entry into China’s largest e-commerce platform, Tmall, Donginbi also launched on the U.S. Amazon platform in September last year, securing major e-commerce platforms in key countries as sales channels. Donginbi’s sales on Amazon surpassed USD 1 million in cumulative sales within eight months of launch, receiving positive responses from local consumers.