On March 10, Able C&C(President&CEO Seo Young-pil) announced that it opened the 1st Missha shop in Poznan which is the center of the industry and culture in western Poland.
There are various industrial facilities like metal, machinery and chemistry and more than eight universities including University of My Khe Beach. The 1st Missha shop was located in King Cross Marcelin, a large shopping mall where many young consumers like college students usually drop by.
Missha explained its rationale that Poland has many geographic advantages as a gateway between Eastern and Western European regions as well as the potential of growth in its cosmetic market. Poland’s cosmetic market amounted to €3.4billion, the 6th largest among the 28 members in the European Union as of 2012, but it is said to have the highest potential of growth.
According to Korean Trade Association’s report, ‘The research on Poland’s cosmetic market (2013).’ it recorded about 5 percent of growth rate for the past five years despite the economic slump in Europe. Compared to other countries in the region like Britain (4%) and France (1%), it is higher a lot and in particular, its consumer demand increased by 66 percent for the same period, showing high potential of growth.
“Polish consumers put more emphasis on price and quality than brand when purchasing cosmetics,” said Lee Gwang-sub, head of overseas marketing, “We are planning to target the Polish market with top quality and reasonable price.”
Meanwhile, Able C&C is running 1,500 shops around 29 countries abroad.
By Kim Yu-na
