[Asia Economy Reporter Yuri Kim] "10 million units of Gumttakji Pack sold." "Pad products like Eoseongcho ranked number one in the category this year."
Abib, a new beauty brand partnered with CJ Olive Young, is creating a sensation in the skincare market. According to the mid-term sales tally of Olive Young's fall regular sale 'Ollyeong Sale,' held until the 8th, sales surged 80% over the same period last year during the four days from the 2nd.
◆Like sticking a sticker... Capturing the MZ generation
Abib started in October 2016 when the trademark was registered by ForCompany, founded in January 2016 by five co-founders including experts in video, design, chemistry, and accounting. Kim Min-woo, director of ForCompany and one of the co-founders, said, "Our common goal has been to create products that are faithful to their function." Abib captivated the discerning MZ generation (Millennials + Generation Z) consumers by combining three elements: 'sheet material' that sticks to the face like a sticker, the soothing plant ingredient 'Eoseongcho,' and simple yet eye-catching packaging design. As a result, Abib has recorded over 200% annual sales growth since its establishment, with sales rising from around 3 billion KRW in 2017 to over 43 billion KRW last year.
◆Rapid growth through Olive Young partnership
Abib was able to become a leading mask pack brand through collaboration with Olive Young. In 2017, Olive Young discovered Abib, which had gained online popularity with its 'Gumttakji Pack' (Gumttakji sheet mask milk sticker), and introduced it to the offline market. Olive Young's merchandise planner (MD) proposed the entry, and Abib gladly partnered with Olive Young, which was strengthening its 'clean beauty' lineup at the time.
With Olive Young's incubation and Abib's product development synergy, the product ingredients expanded from milk to soothing components such as Eoseongcho and madecassoside. As a result, about 10 million units of Gumttakji Pack (Milk, Eoseongcho, Hyaluronic, Madecassoside) have been sold exclusively at Olive Young. This year, Abib's sales at Olive Young have increased about 12 times compared to 2018, when sales began in earnest.
◆"Preserving Abib's unique identity"
Eoseongcho, the core ingredient of Abib products, is recognized as a representative plant ingredient beneficial for skin soothing. The 'pad' category, which Olive Young is nurturing as a new category, has also grown into a hit product following Gumttakji Pack through strategic planning with Abib, with items like 'Eoseongcho Spot Pad Calming Touch.' Since its launch in July last year, this product has sold approximately 700,000 units to date.
Abib is also expanding its categories to essences, cleansers, and sun care. Mask packs, which accounted for 94% of sales in 2019, decreased to 56% as of the first half of this year, while skincare (35%) and cleansing (8%) have been gaining ground.
Abib products are showcased not only at Olive Young but also at Lotte and Shilla Duty Free, Lotte Department Store, and Starfield pop-ups. The brand is expanding its overseas market presence, entering over 30 countries globally, including China, Japan, Singapore, Thailand, and Vietnam. Director Kim said, "We will continue the growth trend of over 200% annually since the launch of the Abib brand," adding, "Ultimately, we hope to become a brand that represents the identity of the beauty category."
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