BIOEFFECT aims to return Asian business to pre-pandemic levels

Founded in 2010, BIOEFFECT was the brainchild of three Icelandic scientists who discovered a way to produce epidermal growth factor (EGF) in a barley plant. This breakthrough led to the development of the brand’s best-selling product, EGF Serum.

“BIOEFFECT skincare products are the first in the world to contain a plant-derived replica of a growth factor that occurs naturally in the skin and is essential for skin health,”said CEO Liv Bergthórsdóttir.

Over the past decade, the brand has expanded globally and is now available in 27 markets worldwide, including China, Japan, Korea and Singapore.

“We are currently focused on strengthening our existing markets, but are always open to seizing new opportunities. This is especially true for Asia, where sales have grown rapidly in recent years.”said Bergthórsdóttir.

While the company has enjoyed success in Asia, sales recorded a slowdown “huge hit” in the wake of the COVID-19 pandemic, Bergþórsdóttir said.

Now that the pandemic is finally behind us, the company has witnessed a steady recovery in Asia, especially with the return of physical products.

“Our online sales are increasing, but at the same time physical stores are finally growing, post-COVID,” said Bergthórsdóttir.

She emphasized the importance of physical retail for the brand: “While e-commerce is convenient in many ways, interacting with our customers face to face in stores or at special events is invaluable. ​

“We love meeting, convening and talking to our customers, so we are very grateful for the gradual return of offline retail. We can safely say that we are excited about the time ahead as we will be able to connect more closely with our customers.”​