Baehyeongjin, CEO of Modamoda, "8 Million USD Export Within the Year to North and South America, Southeast Asia, etc."

Global Distribution Network, Contract Discussions with Over 20 Major Buyers
"With Differentiated Technology, We Will Leap to Become the 'L'Oreal of Asia'"

Hyeongjin Bae, CEO of Modamoda

"Even just washing gray hair causes natural browning... Eco-friendly dye shampoo gaining popularity overseas"

[Asia Economy Reporter Moon Hyewon] Bae Hyungjin, CEO of Modamoda, said, "About 8 million dollars worth of products will be exported to North and South America, Southeast Asia, and the United Arab Emirates (UAE) within this year."

In an interview with Asia Economy on the 15th, CEO Bae stated, "Thanks to winning first place in the hair category at the world's largest international beauty industry exhibition, the 'Cosmoprof Awards,' held in Las Vegas, USA, last July, for the first time as a domestic company, we have been able to discuss contracts with more than 20 large buyer companies that have global distribution networks."

Modamoda, established in April last year as a global haircare company, launched the functional shampoo 'Modamoda Prochange Black Shampoo' in the US in June of the same year, based on proprietary technology applying patented ingredients effective for aging hair care developed with KAIST Distinguished Professor Lee Haeshin. Modamoda Prochange Black Shampoo does not use dye ingredients or tar pigments; instead, various polyphenol substances adsorb onto the hair protein surface and react with oxygen in the air to cause 'natural browning.' This principle has received great response from consumers needing aging hair care such as gray or white hair, and production has surpassed 3.2 million bottles to date. Domestically, it achieved a remarkable record of 'sold out every broadcast' on all home shopping channels, and it has also entered overseas markets including the US, Japan, Taiwan, and Southeast Asia.

CEO Bae said, "We are expanding the number of stores in major US wholesale and retail distribution channels such as Walmart, Target, H Mart, and Shopify," adding, "We are currently negotiating entry with Costco, Sally Beauty, and Blue Mercury." In Asian countries, distribution is especially active through online platforms in China and Southeast Asia.

CEO Bae explained, "In Southeast Asia, high-priced daily necessities have not yet become widespread, and personal services such as hair and beauty treatments are not costly, so Modamoda is developing channels mainly online, where early adopters are many, rather than general retail distribution." He added, "Recently, we have also entered China's Tmall and Taiwan's Shopee, which have significant influence in the Asian e-commerce market."

CEO Bae emphasized, "Taking advantage of the characteristic that customer satisfaction after one use spreads quickly by word of mouth, we focus on viral marketing such as sampling and influencer promotion instead of large-scale advertising campaigns." He stressed, "We highlight the fact that it is an 'eco-friendly shampoo based on plant polyphenols' without dye or tar pigments and that it is the 'world's first naturally browning shampoo' developed."

Thanks to this, the response from overseas consumers and buyers in the countries entered has been enthusiastic. CEO Bae said, "In the US, where we launched earlier than in Korea, the main customers were Koreans and Asians, but after about a year, the proportion excluding Asians has risen to 90% of all customers, showing high interest from locals."

CEO Bae expressed, "With the trend of population aging, the domestic and international dye shampoo market will continue to grow rapidly. We will establish a foundation to leap forward as the 'second L'Or?al' or the 'L'Or?al of Asia' with unique and differentiated technology." Meanwhile, according to market research firm Statista, the global hair dye product market size is expected to increase by more than 45%, from 29 billion dollars (about 36 trillion won) in 2019 to 42 billion dollars (about 52 trillion won) in 2023.

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