Bontu Standout, the first domestic perfume brand, announced that it has opened a flagship store at Printemps, a luxury department store in Paris, France, and is targeting the perfume homeland, France. Printemps is a luxury department store representing Paris, France, boasting a 150-year tradition.
Im Hojun, CEO of House By Lim Co., Ltd., which operates Bontu Standout, said, “As a native Korean brand, it is especially meaningful to be listed in Printemps, a luxury department store in France, the home country of perfume. We were recognized for our differentiated product quality and commercial value, leading to our entry as a standalone store. We consider this a cornerstone for advancing as a global luxury perfume brand.” He added, “We will nurture Bontu Standout into a brand loved by consumers in France and around the world.”
Bontu Standout launched in April 2022 in Hannam-dong, Seoul, as a Seoul-based luxury perfume brand, and entered Printemps department store within 17 months of its launch. It is particularly notable that the brand is in the perfume category, rather than the skincare or color cosmetics categories that have been dominant in the existing K-beauty industry. Among domestic cosmetics brands, only Amorepacific’s Sulwhasoo and Bontu Standout have standalone stores in Paris department stores.
Bontu Standout is also known to have signed a distribution contract with David Prossard, the founding director of Hansome’s familiar ‘Liquid Perfume Bar’ to domestic consumers.
Bontu Standout currently operates its brand through about 100 stores in approximately 30 countries worldwide. In particular, it plans to strengthen its position in the luxury perfume industry by entering European luxury channels within the year, including Liberty Department Store in London, Rinascente Department Store in Milan, and Ludwig Beck Department Store in Munich. Domestically, the brand operates a flagship store in Hannam-dong and a store at Hyundai Department Store Duty-Free Trade Center branch.
A Bontu Standout official stated, “Sales, which were about 300 million KRW in 2022, are expected to reach at least 15 billion KRW in 2023, with a minimum target of 30 billion KRW next year.”
He continued, “We are confident in our product quality compared to any global luxury brand. However, product quality is not the main purchasing factor for domestic luxury perfume consumers. They prefer perfumes from famous overseas brands or those advertised by celebrities they like. In other words, the domestic perfume industry faces higher competitive cost burdens than any other country. Therefore, we first focused on overseas markets including France, and our differentiated product quality has led to good results through word of mouth.”
The fact that a native perfume brand, rather than the skincare and color cosmetics brands that have been mainstream in existing K-beauty, has achieved success in a luxury department store in France draws attention to its future prospects.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
