The mask can moisturize, exfoliate or soothe and cool the skin within minutes.
They can build billions, too.
Dollar wealth, but it takes longer
Two years in Jinjunwoong's case.
As skincare products become increasingly at the heart of the pursuit of beauty, some Koreans have accumulated amazing wealth as more and more consumers are determined to achieve this elusive Dewei look.
Banks and large cosmetics manufacturers around the world have noticed this.
In October, Goldman Sachs bought gold's GP club for $67 million (NZ$98 million)
The deal sets the value of the manufacturer of creams, lipsticks and other beauty products at $1. 3 billion.
Kim Jong Il, 44, and his family have the remaining 95 points.
The investment bank told the company that it has been following the cosmetics market with a strong interest.
At that time, GP's club chief operating officer, ho, said in an interview on January.
Christopher, a spokesman for Goldman Sachs in Seoul, declined to comment on June.
After that, the son left the company.
Unilever spent 2 in 2017.
For 27 billion euros to buy Carver, a Korean skincare maker, shares held by Goldman Sachs, Bain Capital and founder Lee Sangrok.
According to the Bloomberg Billionaires Index, Li, 45, is worth $0. 9 billion.
In October, Credit Suisse Group acquired approximately a stake in L & P Cosmetics Co. , Ltd.
The manufacturer of Mediheal mask film, about 40 billion won (NZ$52 million).
South Korea is the world's sixth-largest economy, equivalent to a quarter in Japan.
According to South Korea's trade data, the largest cosmetics exporter in 2017
Investment Agency.
The country recorded $4.
6 billion of exports in the first nine months of 2018, up from the same period last year, driven by Chinese demand.
Kim has started his career in the beauty industry, selling cosmetics to wholesalers in China and building his own brand JM Solution in 2016.
It started from the beginning and is becoming more and more popular on Alibaba's flagship e-commerce
Business platform for Taobabo
Subsequently, the Korean beauty market encountered geopolitical tensions.
On 2017, South Korea allowed the US military to install a Terminal High-altitude regional defense system (Thaad)
To deal with North Korea's nuclear threat.
Beijing explained that the move was against its own security interests,
Some news agencies have called for a boycott of Korean products.
In these tensions, GP Club has taken advantage of its position as a relatively small, newer brand.
"We were not well known at the time, so we suffered less than other big brands," Son said . ".
"The key to being ahead of the competition is to expand sales channels while others are slowing.
"The company has launched a new product, the honey glowing Royal propolis mask, and expanded to South Korea tariffs --free shops.
The low price of GP Club attracted
Called purchasing-
In mainland China, people buy products for customers, because there are limited opportunities to obtain foreign goods and higher prices.
Against the trend of the GP club, sales continued to grow to 9.
5 million masks in December 2017 and a record 100 million in August 2018.
According to Son, revenue surged to 300 billion won in the first half of last year, up from 50 billion won in 2017.
This attracted the attention of Goldman Sachs.
"After the THAAD issue, we are not sure which brand will move forward and we have a significant growth," Son said . ".
Since then, China has relaxed restrictions, including restrictions on groups traveling to South Korea.
In South Korea
It is not common to make a fortune.
Of the richest 500 people in the world, only two of the seven South Korean billionaires are from
According to the Bloomberg Wealth index,Family-
The business group, known as chaebols, has diversified in various industries and leaves little room for itself.
Competitors.
The beauty industry is an exception.
At Incheon International Airport, the first thing tourists pay attention to after entering the country is to display the large screen of these less product advertisements.
Well-known cosmetics companies, not Samsung or other well-known brands.
"Big companies have more money and better infrastructure, but the cosmetics business needs more money," Li said . "
Wook, founder of Have & BeLtd.
The most popular brand, Dr. Jart, sells creams and masks online and retailers such as Sephora.
Estee Lauder Cos 2015.
Acquired shares of Have & Be in undisclosed amounts.
"This is an area of experts," Li said . ". -
