Founders in their 30s and 40s who made their names in the fashion market are jumping into beauty one after another. Former StyleShare and 29CM head Yoon Ja-young, 38; Stylenanda founder Kim So-hee, 43; and Setter founder Son Ho-cheol, 35, have launched new beauty brands. With Dae Myung Chemical, which grew through investments in fashion brands, also moving to expand into beauty, K-beauty is being seen as a new growth stage for the fashion industry.
According to the industry on the 26th, former StyleShare and 29CM head Yoon Ja-young has unveiled the new beauty brand "Nomadia" as co-CEO of Tandem Studio, founded last year. It is focusing on cleansing products aimed at sensitive skin. With Nomadia as the first brand, there is talk that the portfolio could expand going forward.
After founding StyleShare, former CEO Yoon acquired online mall 29CM and grew the company, then sold it to Musinsa in 2021 for about 300 billion won. Yoon then served as head of the StyleShare business and as CEO of the newly established Musinsa Lab, resigned in 2023, and returned to entrepreneurship about two years later with a beauty business.
Kim So-hee, the former head who sold Stylenanda and the color brand 3CE to global beauty company L'Oréal for 600 billion won, also returned to the beauty sector after about five years. In Feb., Kim founded cosmetics manufacturing and e-commerce corporations "Wadatta" and last month launched the new cosmetics brand "Situéa."
With K-beauty continuing to grow, analysts say founders who have already succeeded in fashion are seeking new opportunities again. In particular, cosmetics in Korea have a structure in which original design manufacturers (ODM) handle everything from product planning to development and production, lowering barriers to entry. Another advantage is that brand operations and online marketing capabilities built in the fashion market can be used as is.
Setter founder Son Ho-cheol also tossed his hat into the beauty ring early this year. Setter, which Son founded in 2021, grew quickly and drew attention as a K-fashion brand. Son then exited by transferring management control of Setter to Recipe Group under Dae Myung Chemical, and in Mar. launched the skincare brand "Offsite," returning to entrepreneurship.
Not only individual founders but also fashion-industry investment firms are accelerating expansion into beauty. Dae Myung Chemical Group, known as a heavyweight in fashion, is operating the warehouse-style beauty outlet "Off Beauty" through affiliate Q&B International. It is aggressively growing its beauty business, including considering acquisitions of cosmetics brands.
Off Beauty is an off-price store where the distributor directly buys and discounts carryover items and inventory from brands. It features higher discounts than regular outlets and the ability to buy multiple brands in one place. After opening its first store in Seoul's Gwangjang Market in May last year, it now operates 42 stores and plans to expand to 100 within the year.
New entrants are growing rapidly amid K-beauty's rise. According to the Ministery of Food and Drug Safety (Ministery of Food and Drug Safety), the number of registrations for domestic cosmetics responsible sellers last year was 4,089, more than double the 2021 figure of 1,883. So far this year, 2,607 registrations have been filed, about 12.1% higher than the same period a year earlier (2,326).