The high growth of colour cosmetics was attained through contribution of all products: eye make-up, facial make-up, lip products and nail products. Nail products recorded high growth in both value and volume sales terms due to the DIY (Do-it-yourself) trend. Gel nail kits witnessed high growth, offering discounts for bulk purchase. Mass products represented by road shops accelerated the growth of nail products with quality products for a reasonable unit price. COMPETITIVE
AmorePacific Corp led colour cosmetics in 2014 with 27% value share. The company has a strong brand presence in colour cosmetics, especially in facial make-up: an authentic image as the leading manufacture in terms of innovation. The company was the first to introduce cushion product that a liquid foundation is soaked in a sponge together with make-up base, sun protection, moisturizer, and etc, in South Korea in the market. Thus, AmorePacific brands are highly ranked, especially in facial make-up. Among facial make-up, Iope ranks as the leading brand with 12% value share. The brand is not a huge brand as Hera or Sulwhasoo, but Iope has a cushion product with good quality with lower unit price compared to Hero or Sulwhasoo.
Colour cosmetics witnessed rapid growth of over 10% between 2011 and 2013, but slowed marginally in 2014. However, as the economy is expected to remain stagnant, consumer demand for accessible luxury will keep up the healthy growth of colour cosmetics, due to the category’s low unit price compared to other luxury goods such as apparel or leathered goods. Within reasonable budget, designer branded colour cosmetics can be offered to consumers at affordable prices.