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Biz News Korea(Eng)
Sewha P&C to launch beauty brand Moremo in China
- Collected
- 2018.03.06
- Distributed
- 2018.03.07
- Source
- Go Direct
![[Photo provided by Sewha P&C Inc.]](http://file.mk.co.kr/meet/neds/2018/03/image_readtop_2018_147801_15203179493228475.jpg)
[Photo provided by Sewha P&C Inc.]
The Korean company said Tuesday it signed an agreement with one of China’s largest home shopping companies Happy Go to supply Moremo products from early April.
The contract would include six products, including Water Treatment Miracle 10, a silky smooth hair treatment that became an instant hit in Korea, selling out on the country’s major home shopping channels.
Happy Go, a subsidiary of Hunan TV, is one of the two largest home shopping networks in China along with Dongbang CJ. Its strength lies in cosmetics, where it is the unrivaled No. 1 in the country’s home shopping industry. It raked in 40 yuan ($6.31 billion) in sales in 2015 and continues to show steady growth, rising as China’s dominant cosmetics retailer.
“Our partnership with China’s leading cosmetics home shopping channel will give us a significant boost in China,” said an official from Sewha P&C. “We plan to strengthen our network with other Chinese distributors to make Moremo a must-have item among young female consumers.”
Moremo made its debut in the Middle East with its launch in Dubai last May and has since spread out to other countries in the region including Iraq and Jordan. It has now become a steady seller in the regional market, with monthly sales averaging 40,000 to 50,000 units.
Shares of Kosdaq-listed Sewha P&C closed Tuesday up 30 percent at 5,720 won.
By Kang Da-young and Kim Hyo-jin
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]