LYCL - Success Case Study

Summary

LYCL, established in 2013, is a direct-to-customer, online instant personal care products company. LYCL is the first South Korean beauty (K-beauty) brand to join Beiersdorf's accelerator program "NX Nivea." Beiersdorf endorses LYCL's disruptive business model and believes it to be geographically scalable. LYCL primarily generates revenue through its direct-to-consumer cosmetics sales website. Its cosmetics portfolio includes 24/7 Lip Stain, Bye Bye Cica Toner, Cha Cha Toothpaste, Good Day Kit, and Bubi Bubi Lip.

LYCL, founded by Jeon Jihoon in 2013 in Seoul, Korea, is a K-beauty start-up manufacturing and marketing cosmetics, and also a beauty tech company harnessing the social networking web and mobile apps for professional advertising media services.

Scope

• Use of big data and analytics on data gathered on its platforms has helped the company derive actionable insights for its product and marketing strategy. LYCL has employed influencers and key opinion leaders in its brand-building exercises and to promote its products.
• Although the K-beauty trend has been hampered by the pandemic, Korean innovations in clean beauty will continue to drive market growth. The pandemic has accelerated the existing consumer shift towards "clean beauty" personal care products.
• The company secured a loyal customer base using its own influence networking and beauty review and content platforms.
• Beauty and grooming products are among the sectors that have gained more traction in the online retail channel since the virus outbreak. Direct-to-consumer brands such as LYCL are well-positioned to tap into the boom in online retail amid the pandemic.

Reasons to Buy

• Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
• Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
• Access valuable strategic take-outs to help direct future decision-making and inform new product development.