Fenty Beauty announces Asia expansion
The expansion plan was revealed via a post on Rihanna's Instagram account last week.
“When I launched @fentybeauty in 2017, it was important to me to make sure it was available globally so everyone had access to it,” the pop star and entrepreneur wrote. “And now we are continuing to expand our Fenty Beauty family to Hong Kong, Macau, Seoul and Jeju in September!”
As part of the plan, Fenty Beauty will become available in Hong Kong and Macau at T Galleria by DFS, Sephora, Harvey Nichols, Beauty Bazaar and Beauty Avenue. In Seoul, products will be available in duty-free locations at Lotte Duty Free and Shinsegae Duty Free, while on Jeju Island, Fenty Beauty will be stocked at Shilla Duty Free.
Rihanna first launched the beauty brand with LVMH's beauty brand incubator Kendo in 2017. Known for its wide range of foundation shades, high-shine glosses and ultra-pigmented highlighters, the brand has since amassed 8 million followers on Instagram.
The move makes Fenty Beauty the latest foreign beauty brand to make a strategic play within the Asian market, following Chanel’s entry into China’s Tmall earlier this month and Elizabeth Arden’s announcement that Taiwanese actress Ning Chang would become its first Asian ambassador for skincare.
According to market analysis company Euromonitor, the Asia Pacific region is the largest and one of the fastest growing markets globally for the beauty and personal care industry, holding 32% of the global beauty and personal care marketplace. The region has an expected CAGR growth of 6.7% by 2023, according to a 2018 study by the company.
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