South Korean retail giant Shinsegae is launching an independent Yunjac cosmetics store at its Myeongdong duty free outlet. The cosmetics shop, which will open on February 2, retails Asian herb-based skincare products. Launched in October last year, it is Shinsegae’s first in-house cosmetics brand, targeting Chinese millennials. A statement from the company said the opening is ahead of schedule thanks to unexpectedly high demand, with sales exceeding last year’s expectations by a factor of four.
Three Shinsegae Department Store branches currently host a Yunjac outlet, with more stores planned to open within Korea and abroad shortly. It is targeting sales of KRW100 billion (US$89 million) by next year.