Talent Cosmetics became the first Korean cosmetics brand to receive the Malaysian government’s halal certification, company officials said on Wednesday. The certification ― issued by the Department of Islamic Development Malaysia ― recognizes products that have been processed in ways approved by the Islamic Law.
Out of its total of 550 cosmetics products, 147 have received the certification, according to the firm. The latest authorization from Malaysia has established the bridgehead for us to further expand our business into the Islamic market,” Talent Cosmetics CEO Kang Sung-jin said at a news conference in Seoul on Wednesday.
The halal beauty market has yet to fully blossom, but analysts believe it has a greater potential to grow as it currently posts annual sales of up to $560 million. “It’s definitely a blue ocean, and we believe we can also leverage the popularity of K-pop when doing business in these markets,” Kang said.
Industry watchers explained that there has recently been an explosive growth of demand for Korean food and makeup brands in Islamic countries, including Malaysia, Indonesia and Pakistan. Experts attributed the increase to the global popularity of Korean pop culture, offering more ground for domestic food and beauty companies to rush to get the certification mark.
Talent Cosmetic is a mid-sized makeup goods manufacturer established in 1980. It currently operates six flagship stores in the Myeong-dong district, one of the trendiest shopping neighborhoods in Seoul frequented by foreign tourists. These outlets include the K-pop-themed “K-Pop Story” shop. The company opened its first overseas store in Japan in 2008 and expanded its business to duty-free shops in a bid to appeal to foreign travelers. Last month, it opened another outlet in Malaysia, officials said. Korean food firms that have earned the halal certification include SPC Group ― operator of the Paris Baguette chain
Originally published on www.koreaherald.com