VT GMP Achieves No.1 Overall Sales Ranking on Japanese Online Mall 'Qoo10'
[Asia Economy Reporter Jang Hyowon] VT GMP, a Kosdaq-listed company, announced on the 12th that its cosmetics brand VT Cosmetic achieved the 'Overall No. 1' sales ranking on Japan's leading online shopping mall, Qoo10 Japan.
Qoo10 Japan is considered one of Japan's four major open market platforms, alongside Rakuten, Amazon Japan, and Yahoo Shopping, operated by eBay, the world's largest online open market.
VT Cosmetic's 'Cica Daily Soothing Mask' earned the title of overall No. 1 in sales ranking across all categories, including the beauty category, during the Mega Wari (Mega Discount) period from March 1 to 9 this year on Qoo10 Japan, following last year’s success. Additionally, during the same period, the brand solidified its position in Japan with remarkable growth on Rakuten as well.
Notably, despite being the first event of the year on Qoo10 Japan and Rakuten, total sales already surpassed those of the promotional events held by both platforms at the end of last year. VT Cosmetic’s flagship product, the 'Cica Daily Soothing Mask,' contains Cicalio, effective for skin soothing, and Hyalon, which enhances skin hydration and moisture barrier, making it highly popular in Japan due to its excellent product quality.
Exports of domestic cosmetic brands, including VT Cosmetic, to Japan are on the rise. According to Korea Customs Service export-import statistics, domestic cosmetics exported to Japan last year amounted to approximately $640 million (about 727.5 billion KRW), a 59.2% increase compared to 2019. VT Cosmetic also saw increased sales in Japan last year, with significant sales growth expected in the first half of this year.
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A VT GMP official stated, “Despite the challenges posed by COVID-19, we achieved significant growth driven by sustained success in the rapidly emerging Japanese channel alongside our main channels in the Chinese-speaking regions last year. We have high expectations for brand awareness growth in the Japanese channel this year as well. We will continue to strive to be loved by global consumers by offering excellent products with strong competitiveness.”
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