(MENAFN- MAMOSO K-beauty ) Dubai, United Arab Emirates, 23 August 2022 - Mamoso K-beauty, the first Korean manufacturer sales agency and importer of popular Korean cosmetic brands based in the UAE, is poised to give the thriving Korean Beauty (KBeauty) segment a boost. The beauty market in the Middle East was valued at $10.2B in 2019 and is projected to reach $13.9B by 2027, growing at a CAGR of 9.0% from 2021 to 2027, according to Allied Market Research. (1)
Partnering with some of the most loved and trusted Korean beauty manufacturers including CKD and Vivozon, Korea’s largest healthcare companies, with brands such as O!GETi and Tinazana among others, the company aims to bridge the gap between manufacturers, wholesalers, and distributors in the region. The development is expected to reduce costs for wholesalers and distributors, as well as provide instant access to valuable Kbeauty industry knowledge and expertise. With all supplies coming directly from South Korea to ensure authenticity, companies can now benefit from selling some of the most coveted and viral KBeauty products.
"As the first Korean manufacturer sales agency and importer of KBeauty products in the UAE, we are filling the gap in the market for trustworthy sources of authentic KBeauty products produced and shipped directly from South Korea. Also, due to the high margins and rising demand, the KBeauty market is becoming more and more attractive for wholesalers and distributors. Hence, to meet this, we plan to expand our operations; and explore opportunities for business cooperation. This includes retail spaces in shopping malls and franchises." said serial entrepreneur EJ Pang, Founder of Mamoso K-beauty. EJ Pang has almost two decades ofexperience in the retail industry in the UAE and GCC markets.
MamosoKBeauty, whose clientele includes JD.com, China’s largest retailer and leading e-commerce platform, is prepared to be a prime partner for businesses in the Middle East's flourishing market. Korean Institute of Halal Industry (KIHI) figures indicate exports to Organisation of Islamic Cooperation (OIC) countries grew by 14% in 2020 to $308M and 28% in 2021 to $395M, cumulatively reflecting a sizable increase of 42% in two years. In 2020 imports of Korean cosmetics to UAE and Saudi Arabia grew to 62.7% and 90.1%, respectively from 2019. In 2021, the UAE imported $43M, Saudi Arabia $19M, and Kuwait $13M. Non-Arab Middle Eastern countries Iran and Turkey account for 7% of exports, with Turkey importing $27M last year. Dubai, a leading driver of Kbeauty's growth in the Middle East, operates as a significant hub for sales and re-exports of the products. (2)
With Middle East consumers having one of the largest per capita expenditures on beauty worldwide and the growing preference for organic, clean, or green beauty, Kbeauty is poised to thrive well into the future with its high-quality, all-natural ingredients, innovative formulations, and emphasis on wellness and health. Products are also halal with ingredients that come from plants, aquatic organisms, minerals, and compounds. Kbeauty is further bolstered by the unabated rise of “Hallyu,” or the "Korean Wave'' used to refer to the spectacular rise of Korean culture promoted via KPop, Kdramas, and celebrities.
EJ Pang adds, "With honest ingredients and honest prices, the products we offer are based on the Korean beauty concept of maintaining the skin's health, hydration, and radiance using natural ingredients instead of chemical-based products. We offer carefully chosen products that meet the needs of individuals in the UAE and the Middle East."
Recently, MamosoKBeauty has also been appointed by Dobu Mask and All International as the official distributor of BTS masks and other merchandise in the region. With the iconic Korean group being one of the world's most popular bands and top-selling artists in recent years, with a dedicated massive fanbase around the world, the demand for the group's merchandise is expected to grow tremendously.
MENAFN24082022006879014815ID1104747348
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.