Shinsegae International Launches Domestic and International Operations for 'Swiss Perfection'

[Asia Economy Reporter Seungjin Lee] Shinsegae International announced on the 22nd that it will fully launch the business of the Swiss luxury skincare brand 'Swiss Perfection,' which it acquired last year.

The distribution network, which was mainly business-to-business (B2B) based on spas (hot springs), will be expanded to business-to-consumer (B2C) to increase brand volume, and new overseas bases will be established to accelerate the global luxury cosmetics market strategy.

To this end, Swiss Perfection's offline stores will be opened mainly in domestic and international department stores, and online sales will also be activated.

First, Shinsegae International opened the Swiss Perfection brand hall on its own online mall S.I.VILLAGE on the 22nd of this month and is holding a product planning exhibition. This will dramatically increase customer accessibility to products that were mainly used in high-end spas.

Recently, the number of customers purchasing luxury cosmetics on S.I.VILLAGE has been rapidly increasing, which is expected to have a positive effect on brand awareness and sales growth. In fact, last year, beauty sales on S.I.VILLAGE increased by 526.2% compared to the previous year.

Offline bases will also be expanded. Swiss Perfection started operating a store at Shinsegae Department Store Centum City branch on the 1st of this month, and plans to sequentially open stores at major domestic department stores such as Shinsegae Department Store Gangnam and Daegu branches by the end of this year.

As a brand recognized in the global market, it will aggressively pursue global market expansion. In Europe, it is well known for being stocked in luxury hotel spas in countries such as the UK, France, and Italy, and this year plans to expand its business by pioneering retail markets in China and the United States.

In the case of China, a two-track strategy of online and offline will be implemented within this year: direct online entry and offline expansion through local Chinese companies. To this end, the essential hygiene permit (NMPA) for export to China is currently underway.

Swiss Perfection has gained a reputation in China as a brand used by European royalty, leading to a flood of brand licensing requests from major cosmetics distributors. Entry into Hainan Duty-Free Shops is also expected to be possible.

In the first half of the year, the brand will be launched and directly operated in the luxury section of Tmall, China's largest e-commerce platform. The Tmall luxury section is a specialized hall handling over 200 luxury brands' high-end fashion and beauty products, including La Mer, Chanel, and Gucci.

The United States, considered a leading skincare advanced market along with France, is also planned to be entered soon. Product sales are currently being promoted in the U.S., and local partners are being sought.

A Shinsegae International official said, "Swiss Perfection is already receiving much attention among the top-tier class in China, nicknamed the 'Swiss Noblewoman Cosmetics,' so high growth is expected in the global market," adding, "We plan to aggressively expand the business through Swiss Perfection's unique competitiveness and Shinsegae's brand management know-how."

Meanwhile, Swiss Perfection, launched in 1998 as Switzerland's top luxury skincare brand based on the research know-how of cell biologists, was 100% acquired by Shinsegae International last year.

This content was produced with the assistance of AI translation services.