As Korres celebrates its 10th anniversary this month, the skin care company plans to introduce U.S. customers to the “Korres lifestyle” by launching a new Kings & Queens brand and opening its first freestanding boutique in New York this fall. In an attempt to broaden its product range in the U.S., the company will also begin selling nutriceuticals along with hair products.
“Everyone knows us as a cosmetic brand with natural ingredients,” said Robert DeBaker, chief operating officer of Korres USA. “We’re looking to increase our brand awareness and educate our consumers on what Korres is all about. It’s a lifestyle with roots in science and nature.”
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Although the Greek-based company had a soft launch stateside in 1999, its U.S. office was opened just two years ago, selling its skin care, hair care, and bath and body ranges in about 25 doors. Now Korres products are available in about 500 doors, including Whole Foods, Henri Bendel, Sephora and Nordstrom. According to Lena Philippou Korres, founder and creative director for product development, less than half of the company’s offerings — more than 200 products — found in Greece are currently available in the U.S. market.
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“We’ve seen a trend with pharmaceutical and doctor brands in addition to the move toward using natural-based ingredients,” said DeBaker. “We married the trend of using natural ingredients with our background of homeopathic remedies merged with science. As the oldest homeopathic pharmacy in Greece, we offer our consumers an expertise, since we use the science behind natural products. There aren’t many brands that can claim they are both pharmaceutical and natural.” DeBaker added that Korres supplies 80 percent of homeopathic prescriptions filled throughout Greece.
According to Christos Papadopoulos, director of international marketing for Korres, the company’s products are now available in roughly 20 markets, including 5,000 Greek pharmacies, 200 retailers worldwide and Korres’ seven freestanding stores (including the New York store) located in countries such as Greece, Spain, England and Finland.
In October, the company will open its first U.S. boutique, located in New York’s SoHo neighborhood. The store will feature Korres’ full product range as well as exclusive hair colorants, the company’s most popular and highest sales volume category in Greece. In addition, about 15 nutriceuticals will be available, including jam, energy bars, beverages, saffron, mouthwash and toothpaste. According to DeBaker, the company estimates that the new Korres store will generate about $1 million in first-year retail sales.
To kick off 2007, Korres will introduce its Kings & Queens brand in January. The new bath and body line will have a suggested retail price that is 30 percent below those of most Korres products. The line is aimed at mass and specialty retailers and targets younger customers between the ages of 25 and 35, and “the aging Baby Boomers who are living healthier lives,” according to DeBaker.
“We still wanted to use our love and knowledge of herbs and core natural values we have as a company, but [we] wanted to create something that was more whimsical and playful. Kings & Queens is self-indulgent, while Korres is much more self-aware.”
Inspired by herbs and spices used in ancient times by royals and nobles, the 25 products in the assortment include shower gels, body milks, body butters, body scrubs, bath and body oils, soaps and candles. This heritage is reflected in the product titles like Nefertiti Honey, King of Sumatra Pepper & Bergamot, Caspar Myrrh, Aztec King Vanilla, Chinese Princess Jasmine and King of Ceylon Cinnamon. With strong colors and bold graphics, each product’s packaging features a brief explanation of why particular ingredients were chosen.
Although executives wouldn’t comment, industry sources estimate that the Kings & Queens collection will bring in between $3 million and $5 million in first-year retail sales.
Korres isn’t stopping there. Along with its plans to open freestanding stores in the U.S., the company is preparing to launch a Black line, a high-end luxury range scheduled for a U.S. debut by the end of next year.