Foreo reports record Singles Day sales; new Hyundai store

By Andrew Pentol |

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The company’s UFO Smart Masks helped generate record sales of over RMB100m on Singles Day.

Swedish beauty-tech brand, Foreo has reported record sales of over RMB100m ($14.4m) on Singles Day (11 November) with its UFO Smart Masks and and Luna mini 2 facial cleansing brushes at the forefront.

According to the company, which was joint winner in the Best electronics product category (Luna Mini 2) at the inaugural TRBusiness consumer-voted awards in May, sales on Singles Day exceeded 2017 performance.

Around this time last year, the Financial Times, reported that the Luna Mini 2 was listed second behind the iPhone 8 in terms of demand. Foreo also joined brands such as Apple in surpassing the RMB100m sales mark on Alibaba.

INCREASED STORE FOOTPRINT

Gary Leong, Foreo, Global Retail Director said: “Not only did the number of stores promoting Foreo double, but a similar 100% increase was also seen in the anti-ageing and skincare categories generally.

“Double 11 continues to be most popular in China, but for its 10th edition, Alibaba continued to extend across wider Asian markets. The results so far help to explain this surge in Foreo’s success globally.”

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Foreo’s Luna Mini 2 was a joint winner alongside AYO’s Anti Jet Lag Glasses at the Travel Retail Awards.

Joe Tsai, Alibaba, Executive Vice Chairman commented: “China’s middle-class consumers have experienced significant real wage growth over the past decade and they are looking for high-quality products to satisfy their discretionary spend and an increasingly sophisticated lifestyle.”

Overall, Foreo has seen rapid growth with sales totalling over $1bn since launching in Europe in 2013. Since its inception, Foreo has sold over 14m products in more than 77 countries.

HYUNDAI OPENING

Meanwhile, Foreo has opened its 20th shop in the new Hyundai Duty Free Department Store in downtown Seoul on 1 November. The 140sq m outlet is located in the cosmetics zone and carries the latest Foreo product range. This includes the UFO and Advanced Mask collection, along with the Luna mini 2 facial cleansing brush.

The Hyundai Duty-Free Department Store spans 14,005sq m of retail space and is located at the Convention and Exhibition Centre (COEX) in Gangnam.

Foreo-Hyundai-store

Foreo has opened a 140sq m shop in the new Hyundai Duty Free Department Store on 1 November.

 

 

 

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