TONYMOLY Appoints Seungcheol Kim as CEO... First Professional Management System

Seungcheol Kim, the new CEO of Tony Moly.

[Asia Economy Reporter Moon Hyewon] Tony Moly, the ‘1st generation cosmetic road shop’ that gained great popularity in the 2010s, is transforming from owner management to a professional management system to focus on its revival.

On the 31st, Tony Moly appointed President Kim Seungcheol as CEO at the general shareholders' meeting and board of directors meeting.

A Tony Moly official explained, “This appointment will serve as an opportunity to strengthen management expertise and enhance corporate competitiveness by appointing an expert with extensive experience and solid knowledge in the beauty industry, from the domestic to overseas markets, as the representative. We will create a new leap forward through quantitative and qualitative growth in sales.”

CEO Kim worked in the sales and marketing division at Amorepacific for 19 years from 1989 to 2007. After moving to Tony Moly in 2008, he was in charge of marketing and distribution, contributing to Tony Moly’s transformation into a listed company. Since 2017, he has served as the head of Tony Moly’s global subsidiaries, driving global sales.

CEO Kim set his first goal to accelerate overseas market and online strategies to achieve a quick turnaround to profitability.

Tony Moly plans to diversify its business into new areas such as global business and digital business for its re-leap. Since last year, Tony Moly has been focusing on a major renewal of its own mall and expanding its online distribution network. In addition, it is targeting the ASEAN H&B channel and expanding its business to Europe and the United States. Next month, it will enter Watsons in Taiwan, and in June, it plans to enter Rakuten, Japan’s largest comprehensive shopping mall, and Boutika, the Middle East’s largest digital commerce platform.

It will also actively develop products reflecting customer demands such as eco-friendly and vegan products. A detailed goal has been set to drive first-half sales with ‘Tune Nine,’ a haircare brand operated by Tony Moly.

CEO Kim said, “Starting with the U.S. digital channel Amazon, we plan to expand the market to Ulta, IPSY, Target, and Walmart, and will work harder for high sales growth.”

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