Skinfood’s future hangs in the balance, so it may be time to stock up on these cult faves ... just in case.
Skinfood has been described as a K-beauty beginner’s dream, and many of their products have reached cult status. But the company is facing a crisis, so it may be time to stock up before it’s too late.
Skinfood burst onto the beauty scene with its unique concept of using different foods as ingredients to create beauty products. Their brand philosophy centers on using nutritive food (think royal honey, tomato, avocado, and peach) to provide the best care for skin. The company describes itself as the “first cosmetic brand to root itself in food.” In fact, their Black Sugar Mask Wash Off and Strawberry version is an HG product on millions of K-beauty lover’s shelves around the world, and their quirky grocer-inspired packaging makes their products stand out.
The drama, unpacked
Speculations of the company having money woes first emerged when it got out that a Skinfood store in Korea had to wait over six months to get replenishment of stock. Though at first they denied it, in October 2018, the cosmetics firm, faced with increasing financial losses and excessive debt, had no choice but to file for court receivership. Overnight, the company fired 181 employees in over 40 store locations across Korea. Reportedly sales in 2017 dropped 25% from the previous year, with an operating loss of $86.46 million.
A number of issues affected the company’s profitability over the years, including the 2015 MERS (Middle East Respiratory Syndrome) epidemic and China’s retaliatory actions as part of the THAAD missile crisis in 2017. These events affected the company’s core overseas markets, which took a big loss.
According to Inside Retail Asia, Skinfood sought court restructuring to try to settle their debt and normalize management. To do this, they plan to sell off some of their overseas business rights and expand their online channels. What this means is that instead of closing down for good, they may just come back smaller and leaner. So all hope may not be lost.
The challenges Skinfood faces are numerous — a decreased demand from China, a change in distribution structure due to stagnant domestic demand, and increased competition. It’s no secret that the K-beauty industry is booming, and there are more products available than days in the year. There has also been a major shift to online shopping, and Skinfood just hasn’t been keeping up.
So while we don’t know what the future holds for Skinfood, we think it may be time to stock up on some of their most beloved products. Here are some of our favorites.
Black Sugar Mask Wash Off
Iconic would be an apt description for this scrub. It’s exfoliating, cleansing, and moisturizing all at the same time, and is enriched with vitamins and minerals to hydrate and nourish. With ingredients like organic black sugar, macadamia seed oil, shea butter, and meadowfoam seed oil, your skin won’t feel anything but good. Seriously, this scrub has all you need to banish dead skin cells due to the natural exfoliating nature of sugar. Not only that, but the humectant aspect of sugar means it draws moisture from the environment into your skin. Double win.
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By the way, the Strawberry version of this mask is an editor favorite and smells like you could literally eat it (but don’t — we’ve tried).
Avocado & Sugar Lip Scrub
Why would you buy a lip scrub in anything but a mini avocado replica? It’s probably the cutest packaging you’ll find, and it’s filled with avocado oil and shea butter oil merged with black sugar to gently scrub your lips free off all nasties. Maintaining ultra-soft lips doesn’t need to be a challenge. Skinfood makes it cute.
Peach Sake Toner
Could there be a better combination than peach and sake? We’ll leave that decision up to you, but this toner combines Japanese sake and peaches to reduce the appearance of pores and control excessive oil production. It’s rich in vitamins A and C, which work to minimize shine, reduce free radical damage, and pump up the anti-aging benefits. If that wasn’t enough to sway you, just know that geishas used to add sake to their bath water for softer, brighter skin.
Royal Honey Propolis Enrich Essence
Honey always has and always will be a luxurious delicacy with amazing medicinal properties. It has anti-aging, moisturizing, and antiseptic properties, and we’re here for all of it. Skinfood’s formula has been upgraded and now has 63% propolis extract and 10% royal jelly extract, both of which help to strengthen and soften the skin. Skinfood also added lactobacillus and fermented yeast to help even out the complexion and provide additional hydration. If your skin is begging you for a boost of moisture, then this is the solution.
Egg White Pore Foam
This is one OG product you don’t want to miss. Egg whites contain a lot of amino acids, which are good for cleansing pores, healing, and nourishing skin. Eggs are also packed with protein and vitamins B3 and B2. They can help to regulate excessive sebum, tighten pores, and eradicate skin bacteria. Reviews for this product are glowing (just like your skin will be), and phrases like “I love how it makes your face velvety smooth” and “Definitely my skin saver” just reinforce how widely loved this cleanser is. If it’s not on your list, it should be.
So while the future of Skinfood is unclear (there are a bunch of new products available on their online store), there may be a lot of revamping going on, so stocking up on these classics is probably a good idea.
What Skinfood products do you love and need to stock up on? Let me know in the comments below!
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