Korean cosmetics firm Able C&C taps Thailand
[THE INVESTOR] Korean cosmetics company Able C&C said on Oct. 4 that one of its brands A’pieu has entered Thailand as part of its push to expand its presence in Southeast Asia.
The company has opened an outlet at a shopping mall in Bangkok and plans to open four more stores in the country by January, it said.
“Our expansion plan has been moved up following the positive response at our launch event in Bangkok last week,” a company official said, adding it will actively open more outlets and distribute its products to local health and beauty stores.
Its products are also currently available at five Eve and Boy stores in the Southeast Asian country.
Outbound shipments of Korean cosmetics products to the 10-member Association of Southeast Asian Nations market reached US$406 million in 2016, up 31.6 percent from the previous year, according to a report by the Korea Trade-Investment Promotion Agency.
Thailand’s cosmetics market is the largest among them and has posted an annual growth rate of 8 percent in recent years, the company said, citing data from market researcher Euromonitor International.
By Song Seung-hyun and newswires (firstname.lastname@example.org)