The K-beauty e-tailer and community platform will work with the LVMH-owned retailer to develop K-beauty products that millennials and GenZ are seeking
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.
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.
