THE WHAT? Shinsegae International is undergoing a strategic transformation, transitioning from being a local importer of premium beauty products to entering the global luxury cosmetics market with its brand, Poiret.

THE DETAILS  As part of this shift, the company is expanding its global presence by offering e-commerce services and exploring the possibility of establishing physical stores in overseas markets, including iconic beauty hubs like Paris and New York, as well as regions with strong demand for luxury cosmetics like the Middle East and China.

THE WHY? The primary motivation behind this strategic shift is to reduce the company’s dependence on imported beauty brands and improve overall profitability. By creating a brand that consistently generates profits in international markets, Shinsegae International aims to secure sustainable growth, even in the face of competition from directly imported products. This strategic move is essential to strengthen the company’s position in the global luxury cosmetics industry and respond proactively to market dynamics.