Nerium International is targeting an up-and-coming anti-aging market for its next international expansion. The fast-growing skincare company has announced plans to launch its business in South Korea this June.
The 4-year-old brand first ventured beyond the U.S. last year with expansions into Canada and Mexico. In the same year, revenue increased 80 percent to $403 million, making Nerium the No. 40 direct selling company in the world and the No. 21 company in North America.
With its South Korea launch Nerium will introduce a patented new ingredient into its Optimera skincare line, which consists of just three anti-aging products.
“While every international expansion is significant, this launch is especially unique as we are introducing Optimera with the new SIG-1273 ingredient, offering advanced scientifically based products to our South Korean customers,” Nerium Founder and CEO Jeff Olson said of the company’s revamped formula. The patented SIG-1273 molecule, an antioxidant that mimics the skin’s natural age-fighting mechanism, is the product of 20 years of research by Princeton University biochemist Dr. Jeffry Stock.
Nerium President Roy Truett said that a receptive culture and high demand for anti-aging products influenced the company’s decision to enter South Korea. According to a recent report by Transparency Market Research, the global anti-aging market is poised to grow at a compound annual rate of 7.8 percent through 2019. The report indicates that South Korea and a handful of other markets in the Asia Pacific region will soon lead the world in sales of anti-aging products and devices.
Industry veteran BJ Choi will head up Nerium’s key new market as Country Manager of South Korea. Choi has accumulated more than 20 years of experience with various direct selling companies in the region.