Towards Hidden Champion
Have&Be Co., a holding company of global derma cosmetics brand Dr. Jart, was selected as a "2016 World Class 300" firm. As one of the 300 firms, the company will be given support from the government in R&D, global marketing, global talent training programs and finance for the next five years.
Led by the Ministry of Trade, Industry and Energy and Small and Medium Business Administration (SMBA), the World Class 300 program is intended to nurture 300 small and mid-sized companies, which seek to go global and have potential, as hidden champions leading the global market. This year, 50 companies across the nation were selected for the program, including Have&Be.
Founded in 2004, Have&Be is a cosmetics company which has launched and run derma cosmetics brand “Dr. Jart” and men's culture cosmetics brand “DTRT.” Launched in 2005, Dr. Jart is currently sold in 17 countries around the world, including the U.S., Russia, Japan, China and Singapore.
It has become the first domestic derma cosmetics brand introducing BB creams in the U.S. and creating the BB cream craze in the market. Moreover, it is the only domestic brand being exported to Russia, setting the K-beauty trend. Recently, Have&Be is making an effort to continuously expand its business to global markets, entering five countries in the Middle East which is considered the next-generation beauty market. Based on excellent products and quality, the company saw an average annual sales growth of 72.2 percent in the past three years. As its global sales are continuously increasing, it is becoming a global leading mid-size company.
Have&Be CEO Lee Jin-wook said, “The company was able to become part of the World Class 300 project as it has sought to become a global company since its founding. With the latest appointment, we will spare no efforts to steadily push into global markets, including Europe, in the second half of this year and introduce the excellence of Korean cosmetics products to the world.”