Beauty content creators eye China
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Multi Channel Network (MCN) Leferi Beauty Entertainment CEO Choi In-seok, left, and managing director Lee Dong-hoo look at a computer monitor in their office, southern Seoul, Wednesday. Courtesy of Leferi Beauty Entertainment
By Jhoo Dong-chan
Choi In-seok, 28, CEO of Multi Channel Network (MCN) Leferi Beauty Entertainment, has expanded its business to China, alongside managing director ― and his friend ― Lee Dong-hoo.
MCN Leferi Beauty Entertainment is an agency that has contracts with 70 Youtube content creators in Korea to investigate women’s beauty needs. Like other entertainment management agencies in Korea, the company provides a set of training programs for those who want to be media creators in the beauty field.
Leferi offers exclusive contracts with beauty content creators who complete its training program and helps them make their debut on Internet media. The company’s most popular creator Daddoa has also completed the company’s training program and now has more than 400,000 subscribers on Youtube, 250,000 in China.
Due to Leferi’s beauty content creators’ successes on Youtube, a number of top-tier cosmetic companies, including MAC, Loreal, and Eucerin, have offered partnerships with the company, they said.
In October 2015, the company established an overseas branch in Hong Kong and signed an exclusive partnership with Meila, the largest beauty e-commerce application company in China.
“Our beauty content creators are expected to lead K-beauty in China but also help Chinese consumers develop their own beauty content in the future,” said Choi.
Due to Leferi’s explosive success, more than 200 people send applications to become one of the company’s beauty creators every month, but only 20 are offered the opportunity to become trainees. Of them, 10 on average sign a deal with the company.
Multi Channel Network (MCN) Leferi Beauty Entertainment CEO Choi In-Seok, second from left, and managing director Lee Dong-hoo, first from left, pose with the company's beauty creators. Courtesy of Leferi Beauty Entertainment
“It has been a bumpy ride before we got here,” said Choi. “I started with nothing but 10 million won in an initial investment and Lee’s 6 million won. No office and workers.”
Starting Leferi in July 2014, the two dropped out of promising universities and worked hard for their company’s success.
“I failed several in start-up businesses before I joined Choi. But I knew I could make it work with Leferi,” said Lee.
“In order to get investments from other companies, I even disguised myself as a janitor to meet investors. Now, they are some of our marketing partners.”
A little too young to be mentors, both say that young people should consider startups, especially now that the nation is facing an all-time high youth unemployment rate.
“Startups can be a good alternative for our generation rather than a struggle for employment,” said Choi.
“Korea is the most responsive market in the world. Challenge something with your ideas. If it doesn’t work, walk away. Startups promise a much higher return than being hired by chaebol. If you don’t have such ideas or initial investment for startups, then try to work with startup people. I guarantee the rewards will be much more satisfying.”