Missha, a mid- to low-priced Korean cosmetics and skincare brand, has opened its 20th store Turkey, its parent company Able C&C.
The cosmetics manufacturer said it opened five stores in Turkey in July and August, as the Missha brand has surged in popularity there.
Since opening its first store in 2014, the company has been striving to expand its presence in the Middle Eastern market through employing a premium strategy.
As a result, Missha’s sales volume in Turkey has increased dramatically from $1.2 million in in 2014 to 2.23 million in 2018. In the first half of this year, the company exceeded $3 million in sales.
The brand currently has stores in eight cities in Turkey, including Istanbul and Ankara. It operates seven stores in Ankara alone.
“Turkish consumers recognize Missha as a premium brand. It is significant because other Korean cosmetics brands are withdrawing from other countries,” said Olcay Arslan, head of Missha Turkey’s exclusive distributor ARS Cosmetic.
Turkey is not only a hot spot for the beauty market but also a geographical and cultural hub that connects Asia and Europe.
“A large number of Turkish women have shown interest in our products during the opening event. We will make Turkey a stepping stone to extend our business to the Middle East and Europe,” an Able C&C official said.
Able C&C currently operates 160 stores in 44 countries worldwide.
(Source: Korea Times)