Case 9: Identifying Potential Buyers for Jibon Cosmetic
This case examines how Jibon Cosmetic asked KOTRA Dhaka to identify potential local buyers for K-beauty exports to Bangladesh. Bangladesh's cosmetics market is expanding by more than 15% annually, and awareness of Korean beauty brands continues to rise quickly. The project documented the full process from mapping the local distribution structure to identifying and verifying prospective buyers, and then moving into actual business matching.
Jibon Cosmetic
Client Company
K-beauty brand
Buyer discovery
Research Type
Importers and distributors
12 firms
Buyers Identified
Final shortlist
25 days
Project Period
Request to report
4
Buyer Meetings
Virtual and in-person
3
Samples Sent
Follow-up stage
Bangladesh Cosmetics Market Snapshot
Key Indicators for the Bangladesh Cosmetics Market
| Item | Figure | Note |
|---|---|---|
| Market Size | $850M (2025) | Up 16% year on year |
| Import Share | 35% | Local 65%, imported 35% |
| Korean Share | 4.2% | 3rd among imported cosmetics |
| Main Competitors | India, Thailand, China | India 45%, Thailand 20% |
| Distribution Channels | Pharmacies, supermarkets, online | Pharmacies 40%, online 25% |
| Tariff Rate | 25-45% | Based on HS 3304 |
| K-beauty Awareness | 72% | Urban consumer survey |
Research Methodology
01
Step 1: Distribution channel mapping
Cosmetics distribution in Bangladesh can be divided into four broad channels: (1) traditional pharmacies and supermarket chains, (2) department stores and shopping malls, (3) e-commerce platforms such as Daraz and Chaldal, and (4) specialty beauty shops. The research team mapped key importers and distributors in each channel to build the initial buyer pool.
02
Step 2: Longlist development
Using customs import data for HS 3304, the Bangladesh cosmetics association member directory, and the KOTRA buyer database, the team extracted 30 companies with cosmetics import records. The first screening focused on prior experience with Korean products, the scale of distribution networks, and financial stability.
03
Step 3: Phone and email verification
Among the 30 candidates, 22 companies were successfully contacted and introduced to Jibon Cosmetic's product lineup, including skincare, makeup, and mask packs. Verification covered four points: willingness to handle K-beauty, expected order volume, distribution channels, and openness to an exclusive arrangement.
04
Step 4: Site visits and final selection
Of the 18 companies that passed the phone screening, the top 12 were visited in person to check their stores and warehouses and to meet decision-makers or purchasing managers. The final list reflected verified distribution capability, prior K-beauty handling experience, and concrete marketing plans.
Results and Buyer Matching
Buyer segmentation
Tier A (large distributors)3 firms
Tier B (mid-sized importers)5 firms
Tier C (small and online)4 firms
K-beauty experience7 firms (58%)
Matching outcomes
Buyer meetings2 virtual + 2 on-site
Sample requests3 cases (2 Tier A + 1 Tier B)
Price negotiations2 ongoing
MOU signed1 case under exclusive review
Request received
Inquiry from Jibon Cosmetic
→↓
Market mapping
Distribution structure analysis
→↓
Candidate extraction
Initial list of 30 firms
→↓
Phone verification
18 firms advanced
→↓
Site checks
Final list of 12 firms
→↓
Buyer matching
4 meetings arranged
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Case 9 shows a structured pathway for identifying potential Bangladeshi buyers for a K-beauty brand: analyzing market structure, extracting 30 candidates, applying both phone and in-person verification, finalizing a shortlist of 12 firms, and arranging four buyer meetings. The case also illustrates how high market growth and rising awareness of Korean cosmetics can be converted into a disciplined buyer development process.
Overseas Market ResearchJibon CosmeticCosmeticsPotential BuyersCase Study
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