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REPOR T

Unlocking the

SecretS of Brand

BUilding in

South Korea:

diStriBUtion and

VALÉRIE KAMINOV – BIOGRAPHY
Valérie Kaminov is Founder and Managing conSUmer inSightS
Director of the highly successful
International Luxury Brand Consultancy.
For over 25 years Valérie has been at
the forefront of the global cosmetics South Korea is one of the fastest-changing beauty markets, introducing industry-
industry and has worked with a vast array leading innovations and globally setting trends. The demand for K-beauty products
of luxury, premium and niche beauty (face masks, cleansers, moisturizers, makeup) is so high that the Korean beauty
brands and fragrances. With her extensive industry is now a top performer, forecasted to reach $14 billion by 2027. Snail
expertise, commercial acumen and slime, bee venom, starfish extract, and pig collagen, are just some of the unique
practical experience IL Brand Consultancy ingredients used to produce K-beauty products. The growing demand for these
has become one of the most sought after
management and distribution agencies products is now generated by an overall idea of the Korean beauty standard which is
specialising in global beauty. Recognised fast becoming a brand in itself. Furthermore, South Koreans are also avid consumers
for the breadth of business sectors and of international beauty brands. Imported cosmetics accounted for 40% of South
extensive distribution channels it works Korea’s cosmetics market share.
with, ILBC’s international client portfolio In fact, Revenue in the Beauty & Personal Care market in South Korean amounts to
spans both well-established names and US$12.58bn in 2023. The market is expected to grow annually by 2.56% (CAGR 2023-
newly-emerging brands in hair care,
make-up, skincare, fragrance, devices 2027). The market’s largest segment is the segment of Skin Care with a market volume
and top-to-toe brands. Valérie’s wealth of US$7.63bn in 2023. And 52.8% of total revenue (in
of knowledge in international growth the Beauty & Personal Care market) will be generated
strategies and business development through online sales by 2023.
is combined with an inspirational The stats confirm; this is a market that can’t be overlooked.
and forward-thinking approach. With all this in mind, let’s look at some of the trends and driving
Through her exceptional insight and
understanding of the industry Valérie has factors behind purchasing preferences of South Koreans.
helped brands amplify their market reach,
elevate their brand presence, improve THE SouTH KoREAN CoNSuMER
their business performance and achieve Korean beauty consumers are discerning and sophisticated. South Korean women use
commercial success globally. up to 27 beauty products per month on average, with the 20-something population
A further aspect of her business is her using the largest number of cosmetics and a high usage of color cosmetics. Korean
skill in brand evaluation, acquisition due
diligence, risk assessment and commercial men are increasing consumers of personal care and grooming products. Similar to
growth which has led Valérie to regularly women, they value even & clear skin tone and are ready to experiment with cosmetics.
advise Private Equity Funds, Women in their 30s show a preference to body care whilst women in their 40s and
multi-national organizations and financial 50s focused on purchasing skincare products such as lotions and serums.
investors. This capability in combination
with her advanced qualifications and
proficiency in corporate governance
have made her a much-desired Board
Advisor and Non-Executive Director.
From her CEW mentoring, organisation
of the International Manufacturers &
Distributors Forum (IMF) and guest
lecture programmes, Valérie is a passionate
and dynamic advocate of the global
beauty industry. Valérie splits her
time between her London HQ and her
central Paris office as well as managing
a satellite network in Russia & China.
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