Interview with Dermameal - 2 Dermameal to establish a strategy to differentiate it from other products by clearly putting functional ingredients
Sep 09, 2020, 04:03
Continue on Interview 2.
- Are there any difficult parts in production?
The management cost is considerably higher than before. In the past, the production of cosmetics was not very difficult, but recently, the management and supervision of the Ministry of Food and Drug Safety has become strict. With the globalization of the cosmetics industry, the level of cosmetics, such as standards, has improved a lot as it cooperates with foreign companies. In recent years, as diplomatic relations with China have become more complex, there are also difficulties encountered. Products that had been approved for sanitation to export to China in the past have not been approved for renewal for more than a year.
- Where are the export countries mainly?
Currently, it is exporting to China, the United States, and Europe through ODM. In addition to the United States and Europe, we continue to contact various countries including Indonesia, Vietnam, the Philippines, Thailand, Russia and Iran. In the future, we, Dermameal, plan to focus more on overseas. As the domestic market is small and limited, it is difficult to survive without going abroad. Currently, it accounts for about half of the overseas business, and it seems that it should be raised to 70% in the future.
- The market is saturated. Any competitiveness?
The differentiation strategy is to put functional ingredients clearly. For example, the “DM8-Ⅲ” launched under the Dr. Melavax contains 8% of naturally aged white wine fermentation broth and functional protein mixture ingredients. In other companies, it is limited to 0.1%. Although it is a considerable burden on the cost, we believe that Dermameal's competitiveness will be secured only when functional ingredients are added to the products to make it effective enough for the skin.
- What are your future goals?
This year's sales target was set at 100 billion won. First of all, stabilization of Dermameal is an urgent priority. If both manufacturing and sales go well, that will be a positive thing. The lineup is also being steadily completed. The upcoming product is the Dermaphilia brand sunscreen. Last month, three types of UV protection products were developed by the research institute and they were certified by the Ministry of Food and Drug Safety. In the external part of development, above all, it seems that marketing that translates into the language of consumers should be done. Terms such as peptide and growth factor feel quite difficult to consumers. We think our homework is to create a language that can easily solve the difficult jargon in order to sell well. With an emphasis on manufacturing R&D, we plan to steadily invest more than 20% of R&D expenses to operating profit.
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