Korean and Japanese Stores Gain Presence in Ecuador; more stores are expected to open

Living in South Korea and getting to know the K-beauty, a routine of more than ten steps to take care of the skin, and seeing the results called the attention of Dayana Fernández, general manager of Lavuu.

The Ecuadorian created the multi-brand store in 2018, which started online and today it has a store in Quicentro Shopping. All products are imported from South Korea such as scrubs, moisturizers and facial serums, some made with rice extract or snail mucin.

It imports between 5,000 and 6,000 kilos per year of about 30 types of products from the brands Mizon, Aperire, Cellnco, Village 11 Factory and others.

“My life in Korea led me to learn about the culture and all the ritual that Koreans do to take care of their skin. From five, ten or twelve steps. The COVID-19 pandemic prompted many people to stay at home to encourage skin care, “he says.

Creating a smaller product and maintaining promotions drive the recovery of the fragrance sector in Ecuador

Lavuu doubled its sales in 2020 and keeps growing by its two routes: electronics and in the shopping center. They plan to open a store in Guayaquil in the short term.

There are also other Korean and Japanese stores in the country. Some of those franchises with less than five years in the market such as Yoyoso, Mumuso, Minigood y Miniso.

Juan José Moyano has been the manager of Yoyoso, a franchise since October 2019. The brand has a variety of products kawaii or cute as stuffed animals, key chains, headphones, caps, enamels, agendas, makeup, among others. They are in five shopping centers such as San Luis Shopping, in Quito, and in the Village Plaza, on the road to Samborondón.

Moyano did have difficulties in the pandemic, but assures that they are recovering. “It was super complicated to be able to get up from the pandemic crisis, also with customs problems. Yes, the recovery was slow until Christmas 2020, and in the middle of 2021 the billing is recovering initial ”, he says.

The company registers more than 3,000 products and imports about 8,000 kilos each month. Among his plans is to open the sixth location before the end of the year. He says the outlook looks encouraging if no restrictions arise from the pandemic.

Homero Guevara, president of the Alliance Gc company, agrees with this. which acquired the Mumuso franchise for Ecuador.

This store also displays South Korean-inspired products in areas such as stationery, home, toys, technology, beauty, and more.

According to Guevara, this concept of inexpensive, good-quality products has attracted attention, in addition to the designs.

Korean brands lead the Ecuadorian automotive market

“Being an inexpensive product is always being sold, people seek to give gifts,” he points out and adds that at the moment they have a turnover of 60% compared to that registered in 2019. Nationwide there are 19 stores, most in shopping centers like San Marino Shopping, in Guayaquil.

They import between one to two containers every month and it is already on its way the product line for the holiday season.

“We expect the economy to recover, we do not expect 100%, but this end of the year is crucial,” he says.

Minigood is another of the stores with this concept. They have a wide portfolio that ranges from household products to toys and sports, which They arrive in containers every fortnight from South Korea.

The international franchise has a presence in the country since November 2019. There are more than 1,200 products in the seven stores also in shopping centers such as Mall del Río and City Mall in Guayaquil.

“We focus on shopping centers, since they are novelty stores and attract attention at the same time,” says Juan Carlos Manrique, general manager of Minigood.

Although their stores did not open in the quarantine months, they focused their sales via online with home deliveries. The toys were one of the best sellers and Manrique associates because the children were the ones who have been the most at home for tele-education.

Manrique has aspirations to open more stores like in Loja and Machala.

The fashion of Japanese products also reaches the country. Miniso is a franchise acquired since July 2019, says Simón Acosta, general manager of the store.

They have eleven categories of products such as beauty, toy, home, electronics, stationery and others. They are found in six shopping centers such as Quicentro Shopping, in Quito.

Some of the products, designed in Japan, are manufactured in the United States and Brazil.

Acosta says they are still in the recovery stage. For example, in the aforementioned store there is 30% to be recovered. This is related to the income received in July 2019 compared to the same month in 2021.

Nevertheless, have bet on the opening of more points. That same month of this year, they opened in the El Recreo shopping center, in the capital. And they plan to open another in the Sierra region.

“We have survived, we have been able to move forward and attract customers,” he mentions and adds that they have high expectations in December, not only in stores but through the delivery. (I)