Able C&C expanded into Europe with a strategic entry into Germany in 2015. It currently has a presence in 22 European markets, including Germany, Poland and Georgia. It operates almost 7,500+ offline stores and mainly focuses on Misha and Apyu.
The company announced that sales of Missha in Europe rose 143% year-on-year in the third quarter of last year.
The company attributes its success to several factors, including a strong distributor network and growing interest from Generation Z, also known as Millennials and Generation MZ.
“While European consumers tend to be conservative and brand loyal, MZ’s younger generation is characterized by their willingness to experiment with new products and make-up techniques.”Park Jinwoo, Head of Overseas Business at Able C&C, said:
The company noted that base makeup products performed particularly well. Missha’s main product “M Perfect Cover BB Cream” has sold over 1.24 million units in the European market from January to November 2023.
The company also highlighted that its other brand, A’Pieu, grew 118% in the third quarter. Overall, cumulative sales for the same period increased by more than 131%.
Potential of K-beauty in Europe
According to the Korea Trade and Investment Promotion Agency (KOTRA), the K-beauty export market accounts for 4% in Europe, compared to 14% in the United States.
Misha believes this, combined with the interest of Millennials and Gen Z, shows that there is a lot of room for growth in Europe.
In a sales report published at the end of 2023, the company said: “Given the meaningful results already achieved in Europe, the company is determined to aggressively pursue expansion into Europe once the market is ripe.”
He further added: “The plan is to further strengthen our country business strategy in order to grow sales, expand into large-scale distribution channels, and continue to expand our consumer touchpoints.”
Misha’s marketing team leader Song Il-hwa elaborated that the brand will be built on the global campaign “Beauty is Reality” starring American actor Elizabeth Olsen.
Olsen, known for her role as Wanda Maximoff in the Marvel Cinematic Universe (MCU), was appointed brand ambassador in April 2023.
In the third quarter, Able C&C reported that operating profit doubled year-on-year to 1.3 billion won, even though advertising expenses increased 2.6 times year-on-year.
“The company attributes its success to aggressive investments that have led to improved brand value and increased revenue,” the report said.
CosmeticsDesign-Asia previously reported that Able C&C’s operating profit increased by 58.6% in its second quarter results. This is due to successful global marketing efforts with Olsen.
More success in the Western world
Additionally, Misha is also doing well in the United States and has had great success online.
In the US, Missha set an unprecedented sales record during Amazon Prime Day in July 2023, with overall sales increasing by a staggering 106% year-over-year, and the skin care category posting 227% growth .