Natural men’s products maker Bulldog launched in the country earlier this year and CosmeticsDesign-Asia.com caught up with founder Simon Duffy to discuss how the launch went and how the market is shaping up.
“[The launch has] been fantastic. We are now rolled out across Olive Young nationwide in Korea. We have great locations in these stores, where Bulldog can be found on the top shelves,” he explains.
“We also partnered with Korean GQ magazine to sponsor their 'Cool Guy' Competition which was a lot of fun and brought fantastic awareness for Bulldog around the time that we were launching.”
Bulldog also looks to roll out into 100 more stores across the country, with an emphasis on picking the right distribution line and making the most of the growing market trends.
South Korea has emerged as a market with great potential due to the growing trend towards men’s grooming, as well as the lesser-associated men’s cosmetics that have seen a boost, prompting cosmetic companies to target this new market.
Last year, Euromonitor reported that South Korean men spent $495.4 million on skin care products representing 21 per cent of global sales, and the market is expected to continue growing with men’s skin care emerging as the best performing category.
“In Korea the opportunities are vast, and they are also growing quickly too. We forecast accelerating growth over the next five years in Korea,” continues Duffy.
“As you also see in areas like Korean pop music and electronics, the Korean beauty industry is the major trend-setter in Asia. It's highly likely that you will see the ripples from Korea's growing momentum spreading to other Asian markets as well,” he tells CosmeticsDesign-Asia.com.
The future’s bright
The next step is then to build on this success and exploit the growing trends in Korea, particularly as men begin to use multi-product regimes.
Make-up and BB creams seem common, and there has also been a greater demand for new products and ideas.
“It's a very dynamic place and there is a great deal of energy underpinning the male grooming industry,” adds the Bulldog boss.
“We'd certainly predict this momentum to continue to build in the years ahead, meaning the next five years will be a very exciting place for brands that can galvanise a unique position in this growing market.”