L’Oréal, the internationally renowned cosmetics company, has made its mark in the North Asian market with the launch of a luxury cosmetics brand called Shihyo. This new venture is the result of a joint effort between L’Oréal, Hotel Shilla, and Anchor Equity Partners. Hotel Shilla is a prestigious hotel chain in Korea and the parent company of The Shilla Duty-Free store chain. Anchor Equity Partners specializes in private equity investments in Asian markets.

What distinguishes Shihyo from other brands is its emphasis on using locally sourced ingredients and drawing inspiration from the traditional far-eastern calendar. The brand incorporates 24 ingredients, symbolizing the 24 subdivisions of the solar calendar. These ingredients are carefully selected from local farmers and are known for their unique properties and benefits. Furthermore, all Shihyo products contain ShiHyo24, a patented, nutrient-rich concentrate infused with fermented rice water and ginseng water.

The Shihyo range includes a wide variety of products such as facial cleansers, creams, shampoos, and conditioners. Each product is meticulously formulated to cater specifically to the preferences and needs of North Asian consumers. The brand’s core philosophy revolves around the concept of “the wisdom of time,” as reflected in its Korean name, Shihyo.

The first Shihyo store, named Seoul Garden, is set to open in the next few months within the Shilla Seoul hotel in South Korea’s capital city. This prime location will allow the brand to establish a strong presence in the highly lucrative Korean market. Following its debut in Seoul, Shihyo has plans to expand its retail footprint to other countries in the region.

The decision to form a joint venture for the development of Shihyo marks a significant milestone for L’Oréal. This collaborative approach is a first for the company when it comes to launching a new brand. It demonstrates L’Oréal’s dedication to leveraging strategic partnerships to strengthen its position in key markets.

The North Asia region has proven to be a fruitful market for L’Oréal, evident from its Q3 sales in fiscal 2022 reaching €2.41 billion, representing a growth rate of 11.3%. This success further affirms the company’s confidence in its latest venture and its ability to capture the attention and loyalty of North Asian consumers.

As L’Oréal introduces Shihyo to the market, it aims to leave a lasting impression by offering luxury products that resonate with the unique cultural preferences and values of North Asian consumers. With its focus on local ingredients and traditional wisdom, Shihyo is poised to carve out a distinct niche in the competitive cosmetics industry. The brand’s commitment to quality, innovation, and sustainability will undoubtedly contribute to its success in the North Asian market and beyond.

Useful links:
– For more information about Shihyo and its products, visit [Shihyo’s official website](https://www.shihyo.com/)
– To stay updated on the latest news and developments from L’Oréal, visit [L’Oréal’s corporate website](https://www.loreal.com/)