[THE INVESTOR] LG Household & Health Care’s royal-themed cosmetics brand Whoo achieved sales of 1.42 trillion won ($1.3 billion) last year, following its continued popularity in China and Southeast Asia.
Since its launch in 2003, Whoo has seen 40 percent growth each year, according to the company. It posted 100 billion won in sales in 2009.
Chinese consumers shop for LG Household & Health Care’s Whoo products at a department store in Shanghai, China. LG Household & Healthcare.
Riding a wave of rapid growth, its sales exceeded 200 billion won in 2013, 400 billion won in 2014, 800 billion won in 2015 and 1.2 trillion won in 2016.
Whoo first tapped the overseas market with herbal-based cosmetics products in luxurious packaging with motifs of a royal seal and the country’s National Treasure No. 1055 White Porcelain Placenta Jar. All its cosmetics were created based on the traditional Joseon royal court’s unique beauty methods used by queens, the company said.
Whoo’s products are available in at least 16 Asian countries including China, Japan and Singapore.
The company’s other brand Su:m recorded 380 billion won of sales last year, emerging as a next-generation brand to succeed Whoo with a similar growth pattern. In 2016, a decade after it was launched, Su:m achieved 300 billion won in sales.
By Kim Da-sol/The Korea Herald (email@example.com)