Indeed Labs is a Canadian brand that is best known for developing relatively simple skin care products that feature one star ingredient, such as hyaluronic acid and coenzyme Q10.
Since its founding in 2011, Indeed Labs has cultivated a presence in the US, UK and Australia. The brand is available through retailers such as Boots and Ulta.
Recently, the company announced that it was making its first foray into Asia with a launch in Hong Kong.
The brand partnered with Mannings, a leading pharmacy chain in Hong Kong, and will be available in 180 brick-and-mortar outlets.
In addition, the company is also making headway into the rest of Asia through its online store.
Speaking to CosmeticsDesign-Asia, the company said it was currently in an expansion phase as shifting more focus from its core markets to new opportunities in Asia.
“Asia being one of the top-ranked skin care markets in the world generating over 50% of global skin care sales represents an interest for the brand as we continue our expansion globally,” said Dimitra Davidson, principal, Indeed Labs.
“The consumer spending and size of the population makes it an attractive market for any brand – not only in skin care but any CPG brand. And engagement through social media has outlined that there is a demand for North American brands as a point of differentiation in the Asia market.”
Indeed Labs’ debut in Hong Kong comes as the city’s retail sales climbed for the fifth straight month in June, signalling recovery from the COVID-19 pandemic despite weak tourism.
While digital commerce has accelerated during this time, Davidson said the company opted for a brick-and-mortar launch as it believed it was the best way to build brand awareness as well as reach consumers.
In addition to that, the company has a digital marketing strategy to further boost awareness as it introduces itself to the Asian consumer.
“Influencer marketing and social media are extremely important and effective within our target market, with a focus of working with top KOLs to highlight the launch,” said Davidson.
Branching out into Hong Kong is part of the company’s strategy to break into Asia, which is an extremely important market for skin care brands.
“Hong Kong is a gateway for North American brands to introduce themselves to the Asian consumer and build credibility before casting a wide net across the entire market. In addition, our selection process naturally led to a partnership who has deep routes in the Hong Kong market.”
Davidson confirmed that the company was planning to expand its presence in Asia but declined to mention its exact plans.
“Indeed Labs has a very strategic approach to launching in new markets – and we see our launch into Hong Kong as just the start of a new and exciting journey!”