The Korean cosmetics firm is consolidating its growth in Spain. The brand co-founded by Lilin Yang has opened this week its first flagship store in Barcelona, which the company itself has named 'K-Beauty House'.
This new flagship store is in addition to the shops it already has in Spain, although the brand also has an international presence in Italy and has become the main official distributor of Korean cosmetics on the European continent.
MiiN Cosmetics' new flagship store features more than 40 brands and its two own brands
This new space is special and unique: it is located in the heart of Barcelona, has a surface area of 400 square metres distributed over two floors and, in addition, in the same space, the brand has made facial treatment booths and manicure and pedicure services available to the consumer. However, this service will not be available until the beginning of September. Located in Balmes street in Barcelona, the 'K-Beauty House' has more than 40 brands of Korean cosmetics and its two own brands: Ondo Beauty 36-5 and Meisani.
MiiN Cosmetics has explained to the newspaper Expansión that its roadmap for this year is to increase the number of shops in Spain, Italy and also in Germany. The latest opening in the country was in the city of Seville, and in June, MiiN Cosmetics also landed in Zaragoza. In the same media, the director of the company, Lilin Yang, explained that the objective is to reach a hundred shops in the next five years.
The Korean cosmetics firm, which currently has 14 establishments in Spain alone, aims to have 25 shops globally by 2023. Individually, as the business daily explains, each opening has required an investment of around 100,000 euros.
MiiN, which reached a turnover of 10 million euros in 2022, plans to reach 17 million euros in 2023. As a target for 2024, as explained in Modaes, they also want to grow online. So far, MiiN Cosmetics distributes the products in its portfolio to retailers such as Zalando, Selfridges, La Rinascente, Perfumerias Júlia or Laconicum through its platform.