Noh Hyun-woo, Sephora Korea CEO: "Korea as a Key Strategic Market"... Reshaping and Rebounding

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"The COVID-19 period was a time to 'catch our breath' and learn about Korea's beauty trends. The Korean market is very important on a global scale, so we plan to expand our business in Korea with a long-term vision and a steady approach."

Noh Hyun-woo, CEO of Sephora Korea. [Photo by Sephora Korea]

Sephora Korea, which entered the Korean market in 2019 and has been operating for four years, is tightening its shoelaces and gearing up for a new leap in line with the transition to an endemic phase. It is preparing to further expand its domestic business by opening future-oriented Korean stores called ‘Store Concept Made for Korea’ not only in Seoul and the metropolitan area but also in major cities such as Busan, Daegu, and Ulsan.

No Hyun-woo, CEO of Sephora Korea, said in an interview with Asia Economy on the 17th, "Korean consumers are delicate, trend-sensitive, and have a high level of sophistication in how they consume cosmetics. Therefore, we have decided to approach the Korean market differently from customers in other countries and plan to implement marketing strategies better suited to Korea."

Sephora decided to close its Yeouido store this month, about a year after closing its Myeongdong store in January last year. Industry insiders speculated that this might indicate a reduction in domestic operations, but CEO No firmly denied such assumptions.

CEO No explained, "This is just a relocation as part of a long-term strategy, not a reduction of domestic business. On the contrary, it is a time of expansion. We are not obsessed with rapidly increasing the number of new store openings but are carefully considering locations that can attract many more consumers than before."

Sephora Korea is considering new store locations not only in Seoul and the metropolitan area but also in Busan, Daegu, and Ulsan. It will also strengthen the role of ‘Beauty Advisors’ who provide professional advice and product recommendations. Makeup services centered around Beauty Advisors, skin care services through skin diagnosis, and beauty classes taught directly by beauty influencers or indie brand founders will be offered.

Regarding the new stores, CEO No said, "We will move away from the traditional store model that simply sells cosmetics and increase experiential opportunities such as holding beauty classes and providing personal color consultations. We hope consumers will see these stores as a kind of ‘playground’ where they can learn about beauty and makeup, form communities, and share information with influencers."

Sephora also plans to strengthen competitiveness by introducing new brands. It plans to bring in a total of nine new brands in the first half of this year, with seven new brands to be unveiled on the 30th of this month alone. Among these, five are rising indie domestic brands considered shining stars in Korea, and the remaining two are foreign brands.

Benefits for customers subscribed to its membership program ‘Beauty Pass’ will also be increased. Various strategies are being explored, such as sending invitations to beauty classes to high-tier customers and giving them priority access to new brand launches. The online store will also be revamped, with improvements to reviews, detailed sales pages, and diversification of online distribution channels planned.

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