In a recent interview with Korea Times, Hong Kong business tycoon Adrian Cheng explained why he will invest U.S. $16 million to bring Korean brand It's Skin to China. He reportedly will use his company’s extensive retail network in China to boost domestic sales of Korean cosmetic products.
“Korean cosmetics are the best for me, personally. I love cosmetic and skin care products from Korea. They know what Asians need,” he said. Cheng added he is looking into a wide range of sectors in Korea for future investments or collaborations; e.g., in technology, culture, wellness and pharmaceuticals.
“I have 43 department stores. If I open 43 It’s Skin counters in 20 cities, it will be the most well-known [Korean cosmetics] brand in China,” Cheng said.
According to Korea Times, the brand is best known for its snail slime cream under Hanbul Cosmetics. Cheng was speaking hypothetically because the snail cream lines are awaiting approval from the Chinese Food and Drug Administration for direct sales in the mainland. However, snail creams are already available online in China.