Natural cosmetics company Korres is aiming to strengthen its brand among Millenials, especially in the US market, through social media by consolidating the message of absolute purity provided by its products in an international environment that promotes sustainability.
The company intends to invest at least 20% of total sales this year in marketing strategies with the above goal, seeing significant momentum in the specific consumer group.
Korres SA, which orginated from Naxos, showed sales in 2020 of $30 million in the US market and $97 million worldwide, and now targets a turnover of $120 million for 2021. The company's general manager for North America, Lena Korre, clarified that a valuable part of the company's loyal customers still remain both the generation of baby boomers and Gen X, who highly value the newly created range of products for menopause. .
Additionally, the conclusion of an agreement for the sale of Korres products through the physical stores of US chain Ulta Beauty at the start of the year (following their availability online at ulta.com), but also with other large retailers such as Sephora, HSN and Dermstore are expected to maximize the benefits of the leading Greek company in the US market this year as well.
Based on innovation, Korres made the most of the strategic agreement it made with Morgan Stanley in November 2017, totaling $56 million, further promoting its presence in international markets and especially in the Chinese market, in cooperation with the Chinese giant Profex dermocosmetics.
The fruits of this agreement were already visible from the fiscal year 2018, when sales in the US market increased by 33%, while in important European markets, such as Germany, Norway, England and France, sales increased by 7.4%, while in Greece growth rates did not exceed 2%.
For 2021, the company has already launched a marketing campaign specifically for the Gen-Z generation, on Instagram, TikTok and YouTube, while leveraging recognized influencers, with the aim of promoting the recognized value of a range of products based on edible yogurt.
This product line is seen as meeting demands for pure cosmetic products, which respect the environment and are based on the principles of sustainability. Internationally, the market for organic cosmetics for skin care has been extremely resilient over the past year, despite the pandemic, with analysts anticipating an even stronger year in 2021.