Koo Ja-hyun, CEO of eBay Japan, unveiled an ambitious project to cultivate 20 K-beauty companies valued at 100 billion yen (approximately $660 million) and 100 companies valued at 10 billion yen (approximately $66 million) within the next three years. The announcement was made at the '2025 Qoo10 Japan K-Beauty Mega Conference' held in Seoul on March 14th.
K-Beauty Market's Growth Potential
Koo highlighted the recent emergence of K-beauty brands with sales nearing 500 billion to 1 trillion won, and the multibillion-dollar valuations of brands that have undergone IPOs or acquisitions. He expressed confidence that achieving the goal of nurturing 20 companies worth 1 trillion won and 100 companies worth 100 billion won is feasible, given the current growth trends.
Expanding Consumer Base and Distribution Channels
The K-beauty consumer base has expanded beyond the traditional 10s and 20s demographic to include consumers in their 30s, 40s, and even 50s. Furthermore, distribution channels are diversifying beyond online platforms to include traditional offline channels such as convenience stores, drugstores, supermarkets, and department stores.
Cosmax to Establish New Factories and Collaborate with eBay Japan
Lee Kyung-soo, Chairman of Cosmax Group, announced plans to establish new factories in Korea, Japan, Indonesia, and Thailand. The Japanese factory is scheduled to break ground in the second half of this year and be completed by 2027. In Shanghai, China, Cosmax is constructing a facility that integrates research, marketing, and production, with completion targeted for late 2026.
Cosmax will collaborate with eBay Japan to develop K-beauty growth strategies tailored to local distribution conditions. Cosmax will provide customized support for indie brands in research, development, and production, while eBay Japan will leverage Qoo10 Japan's platform influence to support the strategic entry and growth of high-potential indie K-beauty brands in the Japanese e-commerce market.
Additional Information:
Qoo10 Japan is a leading online shopping platform operated by eBay Japan.
Cosmax is a specialized cosmetic research, development, and manufacturing company that supplies products to various brands worldwide.
This conference was organized to discuss strategies for K-beauty's global market entry and growth, and to explore collaboration opportunities.
[Copyright (c) Global Economic Times. All Rights Reserved.]
