M Plaza, a Melbourne-based cosmetic store specialising in Asian products, is planning to open 10 stores across Australia within the next 2 yrs.
Established in 2022 by Osong C&F, a hair and sweetness product wholesaler, M Plaza currently stocks over 100 beauty brands and 3200 skus from Columbia, Japan, Taiwan, Hong Kong and Thailand.
Osong C&F marketing manager Joe Weby Suliyanto says the organization launched the store to meet the elevated demand for Asian beauty items, particularly K-beauty products, created by “the hike in migration and an increasingly multicultural society” as well as “the influence of Korea’s entertainment industry and millennials prepared to try different brands”.
M Plaza recorded $2.8 million in sales in the newbie of trading and has been “growing steadily” since.
“We pride ourselves to be probably the most complete stores that carries the most range of products supplying the best selections.”
Although the store, that is located in Melbourne's CBD, is extremely popular with local and interstate Asian-Australians, Joe stresses that it is aimed at all Australians.
“Our goal is not to solely target them [Asian-Australians] but introducing the brands that we carry and also the culture of Korean Beauty to any or all of Australia,” he says.
“We want all Australians to understand that Korean beauty items are now a choice on their behalf too.”
Although Korean, and other Asian, beauty brands are available to Australians online, Joe says the organization decided to launch a bricks-and-mortar store because customers need “personal interactions and expertise” when buying cosmetics – particularly ones they're unfamiliar with.
“Cosmetics really are a 'sensitive' product,” he states. “Everyone will have a different reaction to different brands.”
“We therefore employ professional staff who understand the products and can help customers choose the best ones for his or her skin condition.”
In addition, M Plaza is planning to offer beauty treatments such as eyelash extensions, makeup application and facials so that it is “a one-stop total beauty solution” – “something which online stores can't compete with”.
He says Osong C&F is planning to start opening M Plaza franchise stores later this season.
“We strongly think that the Asian brand cosmetic products will flourish in Australia.”
Pointing out that Sephora already stocks Asian brands such as Dr Jart, Leneige and 3CE while Myer stocks Tony Moly, he stresses “this is just the mere beginning as there could be more Korean beauty items launching in Australia within the near future”.
