South Korea’s naturalism cosmetics company, Manyo, will supply its best-selling face cleansing product, Pure Cleansing Oil, to approximately 300 Costco stores across the United States, aiming to double its sales in the US market. Pure Cleansing Oil, which was launched in 2013, remains Manyo’s most popular product, accounting for 51% of the company’s total sales last year.
Manyo, founded in 2012, owns four cosmetics brands: Ma:nyo, Banilla Boutique, Our Vegan, and No Mercy. With a presence in 65 countries, including the US, Japan, and China, the company has experienced significant earnings growth since 2019. Its operating profit increased more than eightfold to 15.9 billion won ($11.5 million) in 2023, while sales nearly quadrupled to 105 billion won during the same period.
As part of its expansion efforts, Manyo plans to acquire a competitive color cosmetics company this year and invest approximately 20 billion won in marketing to enhance its market presence in Korea, the US, and Japan. The company aims to strengthen its sales networks through partnerships with prominent online and offline channels, including CJ Olive Young Corp., Naver Corp.’s Smart Store, SSG.COM by Shinsegae Inc., and collaborations with Amazon.com, Shopee, Qoo10, and Rakuten.
Manyo expects significant improvements in its US business this year with the introduction of its products in Ulta Beauty stores. Additionally, the company has high hopes for the Chinese beauty market, where it has been actively expanding its presence since last year. Overseas sales accounted for 57% of Manyo’s total sales in the previous year, while domestic sales represented the remaining 43%.
