InskoBi Beauty Brand 'Coralhaze' Enters Taiwan's H&B Retailer 'POYA'

InskoBi, a KOSDAQ-listed company led by CEO Yoo Insu, announced on October 27 that its sensual makeup brand 'Coralhaze' has officially entered 'POYA', one of Taiwan's leading health and beauty (H&B) retail channels.

Founded in 1975, POYA is the second largest health and beauty specialty retail chain in Taiwan after Watsons, currently operating over 400 offline stores across the country. Coralhaze will initially introduce its Glow Lock Jelly Tint and Volumizing Lip Fondue products at 120 POYA stores in Taiwan.

The 'Glow Lock Jelly Tint' features a unique padlock-shaped design and creates glossy, plump lips as the tint spreads like jelly about 10 seconds after application. Since its launch last year, more than 500,000 units have been sold globally. The product is especially popular in Japanese offline retail channels and on Amazon.com in the United States.

The 'Volumizing Lip Fondue' is a melting lip balm with a plumping effect that gives lips an attractive volume. Since its launch in 2023, it has consistently been loved by customers.

Coralhaze, in collaboration with POYA, plans to run a launch promotion and expand its presence to 150 stores by adding 30 more locations by the end of this year, with the goal of entering all 400 POYA stores in Taiwan by the first half of next year. In addition, Coralhaze is planning to introduce its 'Dew Drop Tint' and 'Bare Velvet Tint', both of which have generated explosive interest in Korea and Japan since their launch this year, to Taiwanese customers through POYA next year.

Lee Daegi, Executive Director of the Distribution Business Division at InskoBi, stated, "POYA is known as Taiwan's top H&B distribution channel with high entry barriers for foreign brands. Coralhaze's entry into POYA is symbolic of its recognition in terms of brand competitiveness and global product appeal. With this POYA entry, Coralhaze will strive to expand customer touchpoints in the Taiwanese market and increase brand awareness through aggressive marketing."

Coralhaze is a global makeup brand targeting Millennials & Gen Z, launched by InskoBi in 2023 as part of its export strategy. Its sales have been rapidly increasing every year, and in its third year, annual sales are expected to reach 5 billion KRW. Notably, Coralhaze received the 1 Million Dollar Export Tower award last year and the 2 Million Dollar Export Tower award this year, reflecting its popularity among overseas customers. In Korea, the brand first entered the Olive Young online mall in the second half of last year and is scheduled to begin sales at Chicor offline stores by the end of this year.

Meanwhile, since last year, Coralhaze has been promoting its brand in Korea and Japan by appointing Beomgyu, a member of the global K-pop group Tomorrow X Together, as its brand model in both countries.