"Just as Germany has cars, Switzerland has watches, and Italy has leather, Korea has K-beauty. Korea has now become a country that represents beauty innovation."
Sander Junyoung van Bladel, co-founder and chief executive officer (CEO) of the K-beauty brand "Yepoda," which started in Berlin and first succeeded in the European market, said this in an interview with ChosunBiz on the 28th. As various brands have recently entered the European market, scarcity has decreased, but K-beauty's presence remains strong among local consumers, observers say.
Yepoda is a K-beauty brand launched in Berlin in 2020. It drew attention as Korea-born Dutch national Sander Junyoung and German national Veronika Strotmann co-founded it and reinterpreted K-beauty from a foreign perspective. It posted global sales of €65 million (about 115 billion won) last year and also succeeded in raising a Series B round. It is now carried in more than 650 Sephora stores across Europe and has entered the U.S. market. The number of employees grew from 80 to 130 in two years, and team members represent more than 33 nationalities.
As more K-beauty brands expand into Europe and other overseas markets, what is the secret behind Yepoda's rapid growth? Addressing concerns about overheated competition amid the rapid rise of K-beauty in recent years, Sander Junyoung said, "I don't think consumers overseas, including in Europe, feel fatigue with K-beauty," adding, "What K-beauty represents in the global beauty market is innovation."
However, he said it is by no means an era when you can succeed just by bearing the K-beauty label. With K-beauty brands flooding in at home and abroad, differentiated philosophy and identity are becoming more important. "Consumers now want to see what a brand symbolizes and what values it pursues," Sander Junyoung said.
In Europe, Yepoda secured competitiveness by emphasizing both efficacy and sustainability. "We pursue three things together: product effectiveness, clean formulas, and sustainability," Sander Junyoung said, adding, "Sustainability is not a marketing element but a basic standard of brand operations." He stressed that Yepoda applies Vegan & Cruelty-Free (no animal testing) principles to all products, and if standards are not met, it does not launch the product at all.
"From the outset, we have collaborated with Korean manufacturers on production," he said. "Korean original equipment manufacturing (OEM) and original design manufacturing (ODM) corporations possess world-class capabilities in cosmetics manufacturing and research and development (R&D)." He added, "Korea is the fastest market to develop new ingredients, formulas, and textures. It's the optimal environment to further advance the standards and innovation we pursue."
Recently, Yepoda also set out to target the Korean market. At the end of last month, it opened its first offline store, "The Yepoda Haus Seoul," in Seongsu-dong to meet domestic consumers directly. The strategy is to validate in Korea, the home turf, the brand competitiveness it has built mainly in the global market in Europe.
"Rather than newly entering Korea, it's closer to a homecoming," said Sander Junyoung, explaining, "Because the brand idea itself started in Korea and we have grown together with Korean manufacturers." He added, "Korea is a market with outstanding brands and discerning consumers," and "I want to experience firsthand how Korean consumers evaluate our brand." The following is a Q&A with Sander Junyoung.
-Why enter Korea after succeeding in Europe?
"I don't think we are newly entering Korea. It's closer to a homecoming. The brand idea itself began in Korea, and we have grown together with Korean manufacturers.
I was born to a Korean mother and a Dutch father and visited Korea often from an early age. That's when I was first exposed to K-beauty. Yepoda is a brand born from inspiration in Korea. Because Korea is a market with outstanding brands and discerning consumers, I wanted to experience firsthand how Korean consumers evaluate our brand."
-Why open the first offline store in Seongsu instead of another retail district?
"I think Seongsu is where Korea's most creative and innovative brands gather. It was the most suitable place to showcase our brand philosophy. What we want to build is not a simple store, but a brand experience space. More important than selling products is understanding Korean consumers and communicating with them directly."
-Korean consumers are considered the most demanding in the global market. Did that create pressure?
"Of course there is pressure. Korean consumers are knowledgeable about products and have high expectations for new brands. But that's also why I respect this market. We have already validated our business model in Europe and judged that now is the most appropriate time to enter Korea. I want to learn how Korean consumers evaluate our brand."
-Did your brand operations change after entering Sephora?
"A lot has changed. Previously, we ran the business centered on our own online store and could grow at the pace we wanted. But in offline distribution channels like Sephora, a more systematic and strategic approach is required.
Sephora is a retailer that encounters customer feedback closest to consumers. We are learning a lot from the process in which customers experience products in stores and ask questions. We are gaining insights in various areas, from product displays to customer communication. I think offline is another form of brand storytelling."
-K-beauty brands have surged in Europe recently. Some say consumers feel fatigue with K-beauty. What do you think?
"I don't think so. To me, K-beauty is innovation. Germany has cars, Italy has leather, and Switzerland has watches. Korea has now become a country that symbolizes beauty innovation. Of course there are more brands. But you can no longer succeed just because you are K-beauty. Each brand must have its own philosophy, story, and values. Consumers increasingly care about what a brand symbolizes."
-What K-beauty elements do European consumers find most intriguing?
"A prevention-focused skincare culture. In Europe, it was common to address problems after they arose. In contrast, Korea has a culture of steady care before problems occur. In the past, almost no one in Europe double-cleansed. Now it's accepted naturally. The Korean skincare philosophy of changing products by season and caring daily according to skin condition is also gradually spreading."
-What enabled Yepoda to grow in the European market?
"We pursue product effectiveness, clean formulas, and sustainability at the same time. Many brands focus on effectiveness or on sustainability. We don't choose one of the two. We don't sacrifice the environment for product performance, nor do we give up efficacy for sustainability.
At the same time, we wanted to make skincare an enjoyable experience, not a difficult and complicated process. We applied different colors to each product and designed them so usage methods are intuitive. Enabling people to experience their skincare routines in a fun and easy way is also a differentiator unique to Yepoda."
-All your products are made in Korea. How do you assess Korea's ODM and manufacturing competitiveness?
"I think Korean ODM corporations are innovation itself. This is also why beauty brands around the world look to Korea. Korea is the fastest market to develop new ingredients, formulas, and textures. I believe the driving force behind K-beauty innovation ultimately lies in Korea's manufacturing ecosystem."
-How do you see the K-beauty market changing going forward?
"The line between skincare and makeup will continue to blur. Consumers want to care for their skin while also achieving a natural makeup effect. I think products that combine the two—makeup with skincare functions and skincare with makeup effects—will become more important."
-You closed a Series B round last year. What are your mid- to long-term goals?
"For the time being, we plan to focus on business expansion rather than additional funding. Our priority is to meet more customers in Europe and the United States and grow the brand. We are receiving inquiries about entering various countries, including Japan and Southeast Asia, but rather than expanding rashly, we think it's more important to properly build the brand in existing markets. We want to be a global brand loved for a long time, not just a brand that sells cosmetics."