2024.06.27
New Star in Affordable Cosmetics: The Birth Secret & Charm of "Minum" Created by Yutori & i.D
All products are palm-sized mini cosmetics. minum is an item developed with a focus on both affordability and quality, which has become a hot topic, especially on social media.
Born from a joint project between yutori, Inc., which operates multiple apparel brands, and i.D, a manufacturer responsible for the development, production, and distribution of cosmetics, it was launched in March this year. Since then, the number of purchasers has grown rapidly, centered on Gen Z, and the number of stores handling it has been expanding.
The balance between price and quality, and gaining the powerful influence of social media, were achieved through the creativity and efforts of both companies. Through interviews, we delved into the behind-the-scenes.
PROFILE
Shoichi Horii
i.D CEO
Increasing Demand for Low-Priced Cosmetics
minum is priced at one coin, realizing a low price range. How do you see the recent trends and demand in the affordable cosmetics market?
With the ability to easily purchase cosmetics at 100 yen shops or three coins shops, the sales of low-priced cosmetics seem to have increased significantly. The original cosmetic line from "SHEIN," "SHEGLAM," is also one of the factors.On the other hand, it seems like the mid-price range is becoming more challenging, and a polarization is progressing between affordable and high-end brands. This might be similar to the trend in the apparel industry. While high-end brands at department stores are doing well, mid-price range products might be becoming less chosen even in the cosmetics market.
The increase in low-priced cosmetics has significantly expanded the choices for consumers, hasn't it?
In recent years, even inexpensive products with high quality have increased, and I realize the relationship between price and quality is changing.Back when I worked at Japan Gateway, we were ahead of the curve in promoting silicone-free shampoos. The average shampoo price at the time was around 300 yen, but we sold silicone-free shampoos for 900 to 1,600 yen, establishing a high-value positioning. We also contributed to raising beauty awareness, such as making shampoo bottles transparent.
On the other hand, suggesting new values by lowering the average price, like this time, is also one method. It's becoming important to not just raise prices but also to widen the price range choices while maintaining quality and offering new satisfaction to the customers.
Even if the price goes down, it doesn't mean the value goes down. The key is balancing appropriate pricing with quality.
Can you tell us about the background of collaborating with yutori for this cosmetics development?
Through the introduction of Kazuhiro Kodama, who is an outside director at yutori, I had the opportunity to talk with Kataishi, the representative of yutori, which led to the creation of affordable cosmetics. While the target audience is in the 30s, the social media influence of Gen Z is overwhelmingly strong, so leveraging yutori's strengths, we aimed to create cosmetics for Gen Z.
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