Balann announced on the 9th that it will enter the beauty market with 'Balann Beauty.' This is to transform into a luxury lifestyle platform through business expansion.
Balann Beauty is expected to sell around 3,000 products from over 100 beauty brands. Key brands include professional beauty brands such as Diptyque, Aesop, Jo Malone, and Tom Ford, as well as luxury brands like Chanel, Dior, and Hermès.
Balann Beauty has secured price competitiveness by meticulously sourcing products from local boutiques in Europe, the United States, and Asia through an overseas direct purchase model for luxury beauty. The goal is to provide a product lineup and lowest price levels comparable to duty-free shops.
Authenticity assurance is also certain. This is because it purchases genuine products directly through partnerships with famous overseas duty-free shops and luxury cosmetics distributors. Beauty products are a category that often raises concerns about authenticity when purchased from places other than authorized retailers such as department stores.
Balann plans to expand the beauty category by applying its expertise in the luxury business to beauty. Furthermore, it intends to enter the furniture market in addition to fashion and beauty, aiming to encompass a broader range of customer lifestyles.