BEAUTY: REFA
Travel Retail ‘key growth driver’ in ReFa’s quest to reach JPY 1 trillion
Japanese skincare giant, ReFa believes travel retail will be instrumental in helping it to achieve penetration into 30 countries within the next five years, whilst growing sales to a company sales goal of JPY 1 trillion ($9.4bn). Shu Setogawa – General Manager of Travel Retail, at parent company MTG, speaks exclusively to Charlotte Turner.
Above: ReFa products take a prominent position within the expansive perfume & cosmetics store at Hong Kong International Airport.
W
hat are ReFa’s ambitions for its business in travel retail?
Overall, our company has a goal to achieve JPY 1 trillion ($9.3bn). We believe travel retail will be the key growth driver to achieve the company goal. Specific to travel retail, we believe it is important to build the brand’s image as well as to deliver our products to consumers all over the world. In that sense, our ambition in travel retail is to expand globally to 30 countries first within the next five years, focusing on the world’s top airports. We
“Aside from airport/ downtown duty free stores, we think the cruise channel will be very interesting, as there is still so much potential for this business in Asia.”
Shu Setogawa,
General Manager of Travel Retail, MTG Pacific
100 TRBUSINESS
also plan to come up with country- specific designs and exclusive products in the future.
When and why did ReFa enter travel retail? Our travel retail business began in Japan back in 2014. This was following our rebranding strategy to expand ReFa’s skincare category. Initially, there was a trend for beauty devices to be carried in electronic stores. However, we wanted to enhance the beauty aspect of brand, so we started to enter key department stores and duty free stores in Japan. We had slowly been working on
building global awareness of the brand and successfully entered the Korean travel retail market in 2015. From there, we started to focus
more on Asia as one market and successfully setup the Global Travel Retail department in 2017. Whilst there were immediate business opportunities, it was also a strategic decision to enter the channel. We recognise that travel retail allows us to grow the brand’s exposure and
allows us to serve consumers from all over the world. It is also a perfect channel to help us better understand our global consumers informing our global marketing activities.
What are ReFa’s key regional priorities in duty free & travel retail? Our brand is already popular in Asia, or more specifically in markets with a high percentage of Chinese travellers. Therefore, we see good potential for ReFa in duty free stores that serve a high percentage of Chinese tourists. We prioritise entering these stores first. However, awareness of the brand is growing in the US, with many celebrities and KOLs sharing posts about us on Instagram. DFS has confirmed that we will be entering its store in San Francisco Airport, which will also help to strengthen our position in the US.
Which of the travel retail channels – airport, airlines, ferry/ cruise, MTR/train stations etc –
OCTOBER 2019
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