Memebox, an interactive community-based beaut and e-commerce site, has signed a product partnership deal with Sephora.
The new collaboration with the LVMH-owned retailer will see a new K-beauty colour cosmetic brand hit the market, targeted at millennials and GenZ consumers.
According to the start-up the collaboration will merge Sephora’s established role in experimental beauty and omni-retail with Memebox’s digital capabilities, consumer data and ability to create fast beauty.
The line will be released later in the year, available via sephora.com and in selected stores.
Why K-beauty?
Sephora already stocks a selection of K-beauty products, but this will be the first time it has embarked on creating a cosmetic brand with a South Korean company.
Memebox, founded to make K-beauty products accessible to consumers in the west, first entered the market as a subscription service before moving into e-commerce in 2015.
In 2017 the company haunted selling its products, but has since started again this year.
Today it has four own-brand lines, Noodi, I Dew Care, Pony Effect and I’m Meme, and a community of five million monthly beauty enthusiasts.
In recent years the company has also received significant financial backing, with over US$100m from investors Goodwater Capital, Prejam Mar Ventures and Formation Group.
Brain Koo, the group’s CEO, said the retailer “represents the future.”
K-beauty has been increasing in popularity in the west and has a current market evaluation of US$12.4bn with a 7% year-on-year growth.