Ulta Doubles Down on K-Beauty
Last year, South Korea became the world’s third largest exporter of beauty products, which is not surprising at all considering its popularity across social media, particularly TikTok. Sales of Korean Beauty in the US grew by 56% last year, netting sales for over USD 1.9 billion.
Driven by K-Beauty’s strong performance in the category, Ulta Beauty announced last Friday the introduction of 13 new K-Beauty brands across makeup and skincare to its roster. Cosmetic brands Fwee, TirTir, Kaja, Unleashia, and Rom&nd, and skincare brands VT Cosmetics, I’m From, Some By Mi, Mixsoon, Sungboon, Neogen, Chasin Rabbits and Medicube will launch in Ulta over the summer.
Fwee is well known for its pudding pot blushes, whilst TirTir went viral on TikTok for its cushion compacts.
Whilst other US retailers have exclusively focused on K-Beauty skincare, Ulta’s inclusion of color cosmetics differentiates it from other retailers. It’s undeniable that TikTok is the driving force behind the adoption and virality of K-Beauty. Not only has it made it more approachable for shoppers to understand the formulas, application methods, and aesthetic qualities, of K-Beauty but it has also educated them on previously unheard-of ingredients like PDRN, which is a DNA-based compound derived from salmon sperm, or spicules, an innovative delivery mechanism similar to microneedling, without the actual needles.
One of the most talked about K-Beauty brands in the last couple of years is Medicube, who went viral when Hailey Bieber and Kylie Jenner used the brand’s Booster Pro skin-care device. In fact, its founder, Kim Byung Hoon, recently became of South Korea’s newest billionaires. APR, Medicube’s parent company, is now the second largest publicly traded beauty company in South Korea, and its market cap is estimated at USD 4 billion.
Kylie Jenner uses Medicube’s Booster Pro at their LA pop-up.
Medicube, for example, got a major boost in July 2023 when Hailey Bieber used its Booster Pro skin-care device on TikTok. Earlier this week, Bloomberg reported that the 36-year-old founder of Medicube’s parent company, APR, is now a billionaire. Medicube is now valued at $4 billion.
Medicube will launch at all of Ulta’s 1,469 points of sale in Mid-August with full endcap displays.
To further market Ulta’s robust K-beauty brand portfolio, the retailer has invested in a comprehensive 360-degree marketing plan, which includes featuring content on Instagram and TikTok, including a dedicated content series, and creating co-branded content with all thirteen new brands. The retailer will also host brand-led masterclasses for its Ulta Beauty Collective, and feature long-form editorial storytelling content pieces under the “Ulta’s Discover” pages, as well as its K-beauty landing pages on Ulta.com. The retailer will also send dedicated email communications to subscribers, and print full-page spreads in its magazine, which is sent to over 45 million Rewards Members. Paid search and affiliate marketing are also par for the course with similar campaigns.
Ulta Beauty will also host a series of K-beauty pop-ups with SKINSQUARED to promote a curated selection of its new brands.
