Consumers Open Wallets for High-Efficacy Cosmetics
Sold Only Offline at Department Stores... Personalized Consultations Available
Shinsegae International announced on the 25th that it will launch ‘ALPHANAX,’ a high-end skincare line under its own cosmetics brand YUNJAC. The company aims to aggressively target the luxury cosmetics market and compete with global companies.
According to Shinsegae International, YUNJAC will introduce ALPHANAX products at six nationwide stores, including Shinsegae Department Store’s main branch, Gangnam branch, Daegu branch, Centum City branch, Daejeon branch, and Lotte Department Store Jamsil branch.
Since it targets the luxury skincare market, the line will be released exclusively at offline department store stores to provide personalized skin diagnosis, consultations, and differentiated services. Although priced at about twice the cost of existing products, the company plans to strengthen its position in the luxury skincare market by targeting VIPs and young affluent customers in their 20s to 40s.
ALPHANAX is a product developed by Shinsegae International after five years of extensive research. The name ALPHANAX is a compound of Alpine (high mountain), Alpha (excellence), and Panax (ginseng). It signifies a product effective for anti-aging, using three plants that survive in extreme environments: Heukhyo-sam (black ginseng), Songra, and Cheonsan Seolyeon.
YUNJAC completed the formula by combining traditional techniques passed down through generations with new technologies such as high-efficiency active extraction technology to enhance the synergy of the core ingredients. The ALPHANAX line consists of a double serum and a cream. The ALPHANAX Double Serum, with its powerful antioxidant effects, combines two formulations with different efficacies to create densely radiant skin. The radiance-enhancing serum containing Vitamin B3 and the density-enhancing serum containing Vitamin E and phospholipids mix in an optimal ratio each time they are used, providing freshness and convenience.
The ALPHANAX Cream offers strong anti-aging effects, improving five key indicators: eye wrinkles, skin hydration and elasticity, facial lifting, and skin density, allowing users to experience noticeable anti-aging benefits. Clinical trials demonstrated consistent moisturizing and elasticity maintenance functions even in simulated winter environments with temperature differences exceeding 20 degrees Celsius.
Shinsegae International evaluated that this product launch has laid the groundwork to compete with global high-end brands. A company representative explained, “As the polarization of cosmetics consumption intensifies, the luxury skincare market emphasizing high efficacy is growing,” adding, “We plan to increase touchpoints with VIP customers by developing exclusive programs with luxury hotels and spas.”
Meanwhile, major cosmetics companies appear to be actively targeting the market by focusing on the growth of luxury skincare. Amorepacific rebranded its ultra-premium cosmetics brand ‘Amorepacific’ to ‘AP’ earlier this year and completely revamped it as a high-efficacy luxury skincare brand. According to the global market research firm Business Research Insights, the global luxury skincare market size was $217.67 million (approximately 300.5 billion KRW) in 2022, and the compound annual growth rate (CAGR) is expected to reach 8.64% by 2032. The projected market size in 2032 is $498.66 million (approximately 688.4 billion KRW).
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