SkinFood is a very recent phenomenon in Korea, a country that is today seen as a fast rising star in the eyes of the world in terms of consumer products. Brands like Samsung, Hyundai, and Kia represent not only good value to consumers but are also perceived to offer good quality and reliable products. The popularity of the Korean dramas in Malaysia is also testament that Korean lifestyle and fashion is well accepted and popular in Malaysia.
SkinFood is owned by Peeres Cosmetics in Korea, a company that has been in the business of manufacturing and producing skin care and cosmetic products in Korea since 1957. Their products have also been exported from Korea worldwide and the company is no stranger in Malaysia having supplied direct selling companies like Mode Circle and Peeres Americ in this country. Having spent over 45 years in the traditional mainstream cosmetics business, they with their new management turned their attention to developing a lifestyle brand that was more in tune with the younger consumers in Korea and throughout the world. As a result, a new line of skin care and cosmetic products based entirely on the benefits of food was developed in 2003 and the first SkinFood franchise store was opened in the Myeongdong area in Seoul in December 2004. Although, the plan was only to set up between 6 to 8 stores in 2005, the roaring success of SkinFood in Korea has resulted in over 170 franchise SkinFood stores already opened in Korea up to June 2006 with many new stores planned for the remainder 2006. Although, this was primarily a trial for SkinFood, its popularity has not gone unnoticed in the region, within 3 months of opening their first store in Korea, their first franchise store outside Korea was established in Taipei, Taiwan. Today, Taiwan has 30 stores with another 3 undergoing renovation to be opened in the next 2 months.
SkinFood has already signed on Master Licensee contracts in Indonesia and Philippines, Singapore has opened 3 stores and will open another in the second half of 2006 and Thailand has already opened 6 stores with another 3 undergoing renovation.
Hong Kong opened 5 stores since June 2006.