K-beauty growth shifts from individual brands to distribution platforms

A new report by Samil PwC, titled ‘Evolution of K-Beauty Platforms: From Channels to Ecosystems’, indicates that the center of gravity in the K-beauty industry is shifting from individual brands to distribution platforms. These platforms are evolving into comprehensive ecosystems that handle brand discovery, nurturing, data-driven marketing, logistics, and global distribution.

Domestic platforms such as Olive Young, Musinsa Beauty, Beauty Kurly, and Naver Plus Store are expanding consumer touchpoints to support brand growth. Meanwhile, export-focused platforms like Silicon2 are strengthening the link between Korean brands and global consumers. Silicon2 recently saw significant growth, reporting 205.3 billion won in operating profit last year, and secured a 300 billion won investment from CVC Capital Partners.

The report notes that the traditional growth formula of large-scale advertising is being replaced by a model where brands use platform data to validate consumer responses before expanding domestically and internationally. Future competitiveness will depend on omni-channel operations, data-driven curation, and global logistics networks. However, the report also warns that increasing dependence on platforms may lead to challenges regarding commission fees and data access.