MakeUp in Seoul in three months! « The place to be »
Only three months to go before the second edition of MakeUp in Seoul opens its doors at the Conrad Seoul Hotel. An opportunity for key industry players to express themselves on the importance of the Asian make-up and cosmetic market…Today, Arabella Ferrari, Senior VP, Make-Up Business Unit, Intercos, Gérard Raymond, President of LF Beauty, and Jay Kim, CEO, Cosmax International give us their opinion: MakeUp in : The Asian Beauty market is still recording an important growth. What do you see as you main strong points to be successful in this competitive market?
Arabella Ferrari : Our greatest asset in the Asian beauty market is without a doubt our ability to innovate. Our success in Asia will continue to be driven by a strong focus on innovation in formula, extreme creativity, marketing expertise and unique Italian style for trend forecasting.
Gérard Raymond : We are a global company with our origins from Asia/China. The key points to be successful in any market are creativity, Innovation and an ability to transform that idea into practice.
Jay Kim : Our main assets to be successful in the Asian beauty market is certainly our strong R&D capacity through innovation and our ability to be close to our customers, never disappointing them, plus an all-time service-minded attitude.
MakeUp in : You have an international presence. You therefore have a global vision of the evolution of demand at an international level. In your opinion, what main criteria characterize the world’s four major markets, which are Europe, North America, South America and Asia?
Arabella Ferrari : The worlds major markets are seeing a global movement characterized by a focus on regional needs. With the evolution of social media, the individual consumer has become the protagonist and, more than ever, products must meet her multiple and unique needs. Across all markets, product must be delivered with an authentic story that is relevant to the consumers personal narrative.
Gérard Raymond : In Beauty we are all selling the promise of “Hope” as the original founders of the Beauty Brands articulated. Apart from tailoring and adapting the idea to the local environments and trends of these respective geographic zones the core essence is the delivery of that promise of hope, be it colour or fragrance and lets not underestimate the importance of the delivery system be it the brush, the bottle, the palette etc. At the core of all of this will be the product idea and the ability to respond rapidly to the changing environment and the consumers need.
Jay Kim : What I can tell you is that our company to develop itself is focusing first on North America and then Europe. South America certainly represents an opportunity but in a few years from now. As for the Asian market, as you know of course, we are already fully involved in it.
MakeUp in : What do you think 2015 will be like in your field, in Europe, the Americas and Asia?
Arabella Ferrari : 2015 will be a challenging year and full of opportunities. It will be more important than ever to quickly capture and fulfill new consumer needs and product demands. We will see a strong focus on Asia, as well as new evolutions in distribution channels.
Gérard Raymond : Overall the economic environment will remain volatile. Nevertheless, all consumers, women and men will look for products that meet their needs. There will be an increasing desire for natural ingredients and for herbal remedies and particularly in Asia those products that hold such ingredients which draw on these aspects will be seen as both innovative and command a premium. This will apply to skin, fragrance, Colour etc
Jay Kim : The European market will recover its past strength slowly but surely. The same goes for America with a recovering consumption and consequently some market growth. The market growth in Asia is fuelled mainly by China. We believe Japan will experience some difficulties.
MakeUp in : The concept of full-service seems more and more present and desired. Do you agree, and if so, how do you adapt to this situation? What are the advantages and possible drawbacks?
Arabella Ferrari : Full-service is absolutely more prevalent and more desired in this sector as finished products are enhanced by concepts and often multiple stories. With an in- house creative design team and marketing service, we offer clients complete, custom product lines with strong packaging innovation and a promotional focus. Full service also gives us the opportunity to work more closely with brands, in a more integrated way.
Gérard Raymond : There will always be a need for full-service as well as partial service. This is largely influenced and driven by the mood of customers, how well they are faring, do they have sourcing offices and local teams that they have invested in etc. At the core we believe is the ability to be innovative and provide a genuine value added service to our customers and that could take many forms from proximity, to design, to cost, to ideas whether they are digital, as with our new interactive display units or from product concepts and so on. As the market will always remain competitive and dynamic the key is to have rapid response innovation that can be brought to market in a timely manner and in collaboration with our customers, if we both own it, chances of success are greater.
Jay Kim : Full-service is certainly helpful to increase value added. We can increase our capabilities in terms of product development and creativity through Full Service. The drawback is that to achieve this, a lot of investments are required.
MakeUp in : You exhibit at almost all the MakeUp in trade shows. In a few words what, do you believe are the key strengths of these events?
Arabella Ferrari : The MakeUp in trade shows offer a great selection and diversity of exhibiters with an exclusive focus on makeup. They provide great opportunities to invest in new locations and explore emerging markets. The events are always done with extremely high standards and organization which make participation a pleasure. We always look forward to attending and taking part in the MakeUp in events.
Gérard Raymond : The ability to showcase our ideas and offerings to a broader audience.
Jay Kim : It enables us to meet our clients and get to be known in the cosmetic world outside our market, on a regular basis. It increases even more our desire to develop innovative and efficient products.
MakeUp in Seoul – April 2015, 15th & 16th – Conrad Seoul Hotel