South Korea – Mintel brings Asian hub for innovation to clients' doorstep
Seoul (August 11, 2014)--With the South Korean beauty and personal care retail market posting 5.8% growth year on year to 2013, compared to just 2.1% for the UK and 3.9% for the US, the importance of tapping into its potential cannot be underestimated. Mintel clients looking to tap into that potential will have a huge boost from today (August 11, 2014) as Mintel Beauty & Personal Care announces the expansion of its market leading beauty coverage into Korea.
In response to market demand, Mintel has strengthened coverage of the innovative and competitive South Korean beauty market. In addition, Mintel’s Global New Products Database (GNPD) has expanded from mass market launches in Korea to cover prestige products.
All enhancements are underpinned by the reach and rigour of Mintel’s core Beauty & Personal Care platform that makes it the essential premium research service for the beauty industry worldwide.
Jane Henderson, global president, Beauty and Personal Care at Mintel, says:
“South Korea is one of the world’s most exciting and fastest-changing beauty markets, which is globally influential and trend-setting. Products such as Cushion Compacts, BB and CC creams, which have spurred innovation worldwide, put South Korea clearly on the map for cosmetic excellence. Our expansion into this exciting marketplace will ensure our clients are one step ahead in this exciting and evolving landscape, giving them an even broader view of the market than ever before.”
In addition, Mintel’s Beauty & Personal Care platform will bring clients regular insights and analysis from Mintel’s new Seoul-based Korean Beauty & Personal Care expert, Diane Park, who becomes beauty analyst Asia Pacific for Mintel. Diane has over 10 years experience of the global beauty industry acquired through roles at Chanel and Estee Lauder Companies in Korea. She brings to Mintel valuable, in-depth insight into the dynamic South Korean beauty and retail industries. Working in South Korea’s highly competitive and fast-growing beauty market has given Diane the ability to spot market trends, interpret them at the consumer level and provide insight into what this means for the industry.
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