Yulip is an eco-friendly lipstick brand that exclusively uses organic ingredients and components sourced from 100% natural origins, ensuring its safety for all users. Founded in 2017, the brand was launched in 2021 and within two months of entering the US Amazon, it became an Amazon Choice and achieved the Bestseller ranking. What makes Yulip so appealing? We interviewed Hye-seong Won, the CEO of Yulip, to learn more about it.
Hye-sung Won, CEO of Yulip
Q. I understand that you had a career as a beauty editor. Could you share what motivated you to start your own business?
A. It wasn't in my original plans to start my own business. I was dedicated to my previous job, but after getting married, pregnant, giving birth, and becoming a mother, it became difficult to continue working in the same way. As someone who has always taken on new challenges and lived life with intensity, I was kept very busy during my seventh month of parenting. It was during that time that I began to explore different business ideas. Instead of jumping into a field I know nothing about, I decided to create a business with items that I am familiar with. I came across Google’s Campus for Moms - a startup education program designed for mothers. After joining this program, I started my business.
Yulip's eco-friendly packaging, considering the environment.
Q. What are the values of your business, and what are the features of your products?
A. In line with our brand value of envisioning a future where people and the planet live in harmony, all of Yulip's products are made from 100% eco-friendly materials sourced from nature. To make lipsticks that are safe for children to use, we use seed oil from Hippophae rhamnoides, camellia oil, evening primrose oil, shea butter, and borage oil as the base, and we make pigments from natural inorganic dyes, purple sweet potato, purple radish, and red iron oxide. The color of the raw materials may change slightly depending on the harvest due to the use of natural pigments, but it is safe for anyone to use because no chemical additives are added. We also receive a lot of positive feedback that lip troubles or skin health has been improved after using our product. It is a healthy and eco-friendly cosmetic that does not harm our skin.
Q. You are continuing your business under the slogan of a 100% natural, vegan beauty brand. Can you explain why you adhere to the same philosophy?
A. Our philosophy is centered around ensuring a sustainable future for women, children, and the Earth. In today’s world, the mere act of eating, sleeping, and living leaves a negative impact on the environment. Additionally, cosmetics often contain chemicals that harm the user's health over time. An article has pointed out that a mere 2% of lipsticks in Korea are free from tar dye. It’s because tar dye is essential for vivid and intense colors. Nevertheless, it is not feasible to immediately eliminate products that make our lives more convenient, so we must think deeply about a sustainable future. Yulip is the result of careful thought and consideration. Our business is driven by the idea of developing cosmetics that are suitable for all ages and genders, and can be used for a long time, as well as products that are safe enough for our own children to use. Cosmetics marketing is a highly competitive field and it is difficult to aim for a sustainable future, but we often recall our initial intention when making important decisions.
Meeting to discuss product development for global marketing
Q. Your business quickly became an Amazon bestseller after launching. Could you please share the story?
A. After developing the product, we launched the lipstick in 2018. I believed that the brand values and characteristics of Yulip would be more appealing to American consumers than to domestic consumers at the time. Back then, the domestic market in Korea did not have a high demand for eco-friendly or vegan cosmetics. Therefore, we planned our strategy to focus on the North American market. Given the lack of diverse information like today, we were unaware of what Amazon was as a platform and what marketing strategies were required. Consequently, we spent nights studying and learning together with our employees to approach it. Fortunately, we were able to achieve good results.
Serum containing 70% of the bamboo extract
Q. After achieving success on Amazon, the COVID-19 pandemic suddenly appeared. Have you faced any difficulties?
A. I could do nothing back them. People were focusing on their immediate survival needs, and consumption decreased and the overall sales of beauty products dropped significantly. As essential items became a priority, few people searched for our products. The shipments were held up, and with the wearing of masks, the usage of lipstick also decreased. The future seemed uncertain, but we were able to barely survive the difficult period with the funds we had previously invested. Along with that, during difficult times, we started creating Yulip 2.0, emphasizing its eco-friendliness even more as we prepare for the future. The benefits of our R&D investments during trying times are now starting to be realized.
Q. Yulip is an investee company of MYSC and a resident company of Merry Here. How did you establish a connection with MYSK, a partner of the JCCEI? Could you also share the story of your connection with the JCCEI?”
A. In 2019, we won the grand prize at the 'Youth Venture Forum Oh! Ventures’. MYSC was the coordinating entity. MYSC appreciated our commitment to eco-friendly and sustainable branding, as well as our proactive approach to entering the North American market. This led to us securing a pre-A investment in 2020. Thanks to their support, we were able to create the current version of Yulip 2.0. Moreover, MYSC is not just an investor, but also a facilitator of connections with various companies. It provides us with excellent collaboration opportunities. We also received a lot of help from Merry Here in finding our office, and we’ve been working from there since the beginning of this year.
The JCCEI is also like a hometown for us. Jeju offers many benefits for connecting with overseas clients and exporting goods. Particularly, it is a paradise for cosmetic companies because there are abundant unique and organic raw materials and natural ingredients. Yulip was once a startup company nurtured by the JCCEI. We received a lot of support from the JCCEI as we prepared to expand overseas. We were able to successfully develop Yulip 2.0 thanks to JCCEI’s support in not only expanding sales channels, and marketing but also in the R&D process. I would like to take this opportunity to express my gratitude.
Yulip pop-up store at The Hyundai, Be Clean
Biople pop-up store at the F/W exhibition in Japan
Q. Finally, could you tell us about Yulip's future plans and vision?
A. When we first entered the North American market, the demand for eco-friendly brands from Korea and Asia was relatively low. But in a few years, the market has shifted dramatically. There is now a growing trend toward eco-friendly and vegan cosmetics, and more than anything, the reputation of the Korean beauty industry has risen considerably on a global scale.
