Witan Company Operates "Organicity", an Active Cosmetics Brand That Focuses on High Content of Active Ingredients and Clean Formulas

Witan Company is a startup that develops cosmetics, non-medical products, and medical devices by researching materials for skin improvement. It was founded in January 2022 by CEO Bokyung Song (37).

"Witan Company was founded by researchers in the biomedical field," said CEO Song, "It is a company that researches and develops materials targeting skin diseases by utilizing drug delivery technology."

Witan Company operates a brand of cosmetics for basic skincare called Organicity. The products of Organicity are based on active ingredients. "It's a brand that people can approach more comfortably," said CEO Song. "Currently, our products are mainly serums, but we plan to expand to creams and cleansers."

"The skin is the largest organ in our body and its primary function is to protect us from the outside world. Good looking skin is of great value to people. In particular, skin diseases and aging are still one of the areas that humans are eager to address. In fact, skin diseases account for 35% of the global regenerative medicine market by application, making it the largest area."

Using drug delivery technology, Witan Company develops raw materials that can deliver active ingredients to the skin and applies them to various areas such as cosmetics, pharmaceuticals, medical devices, skin disease treatment and anti-aging products. "Aging is a process caused by genetic and external factors, and companies specializing in skin materials aim to develop products that can control skin aging caused by external factors," said CEO Song. "Witan Company has developed a cosmetic brand by focusing on active ingredients. This brand can be used in combination like nutritional supplements to help address the external aging phenomena that each individual experiences based on their lifestyle and skin type."

Organicity is manufactured by the company itself, based on raw materials sourced or developed in-house. In fact, the product names come from the names of the ingredients. The packaging is pouched so that consumers can see what ingredients are included in it.

"Korean consumers are highly sophisticated. They are very familiar with cosmetic ingredients and collect information very quickly. They actively seek out cosmetics that are right for them. Therefore, many consumers come across our products while searching for ingredients. Since our product name includes the actual ingredient names, consumers discovered and started using our products themselves, thus no marketing expenses were required at first."

With its own research center and manufacturing plant, Witan Company is able to do everything in-house, from sourcing raw materials to manufacturing and shipping products. "This allows us to focus on ingredients, which is why we can offer competitive pricing compared to other companies," said CEO Song.

"Even though it's an unfamiliar brand, many people were willing to 'try it'. Then they started to repurchase because the products only contain good ingredients. A year after launching, we had a 32% repurchase rate within six months of purchase. For these loyal customers, we are continuing our research to provide products with better ingredients at more reasonable prices."

Another advantage of Witan Company is the ease of developing new products. "Product development and production can be done entirely in-house. We identify and analyze the needs of consumers in real time at our own Organicity stores, and based on the analysis, our R&D department researches and develops products. Then we produce them in our factory and launch them to the market. Our biggest competitive advantage is that our system allows the cycle to happen very quickly. We believe we are a bridge between the R&D field, which requires specialized expertise, and the consumer (market)."

Witan Company is actively working to expand its sales channels to reach more consumers. It has created social media accounts to communicate with consumers and participates in overseas fairs to meet overseas buyers. To expand the system it has built, the company plans to participate in an accelerator program for follow-up investment this year.

Founded: January 2022
Key business areas: Organicity, a cosmetics brand for basic skincare, and cosmetics OEM/ODM
Achievements: Won the Seoul Mayor's Commendation as an Excellent Company for Women's Internship (Seoul Mayor's Award). Successfully evaluated as a government project in the Stepping Stone R&D Government Project. Won the Encouragement Award at GRaND-K Entrepreneurship School in Hongneung Innopolis. Launched its own brand, Organicity, in Japan. Signed MOUs worth USD 510,000 with companies in Taiwan and Romania. Acquired ISO22716, ISO9001, and ISO14001 certifications. Certified as a venture company. Certified as a main business company. Selected as a Little Penguin company by the Korea Credit Guarantee Fund.

reporter jinho lee
jinho2323@hankyung.com