Secure Product and Price Competitiveness
Expand as a Lifestyle Platform Including Furniture
BALAN announced on the 9th that it will enter the beauty market with 'BALAN Beauty.' This is to transform into a luxury lifestyle platform through business expansion.
BALAN Beauty plans to sell about 3,000 products from over 100 beauty brands. Major brands include specialized beauty brands such as Diptyque, Aesop, Jo Malone, Tom Ford, as well as luxury brands like Chanel, Dior, and Herm?s.
BALAN Beauty has secured price competitiveness by sourcing products meticulously from local boutiques in Europe, the United States, and Asia through a luxury beauty overseas direct purchase business model. The goal is to offer product assortments and prices comparable to duty-free shops at the lowest price levels.
Authenticity certification is also guaranteed. This is because genuine products are directly purchased through partnerships with famous overseas duty-free shops and luxury cosmetics specialized distributors. Beauty products are a category where concerns about authenticity are high when purchased from unofficial distribution channels rather than department stores.
BALAN plans to expand the beauty category by applying its luxury business know-how to beauty as well. Furthermore, it plans to enter the furniture market beyond fashion and beauty, expanding into areas that encompass customers' overall lifestyles.
A BALAN representative said, “The entry into the beauty business will accelerate the progress toward becoming a global luxury lifestyle platform,” adding, “Starting with beauty, BALAN’s motto to make customers’ overall lifestyles luxurious will be fully realized.”
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