Godrej Q4 ‘24: strong performance despite challenging conditions
Godrej has reported its results for the final quarter of the 2024 financial year. The Indian consumer goods giant saw consolidated EBITDA rise 18 percent versus the same period in the prior year.
Dabur India Surpasses Q4 Profit Expectations Amidst Robust Domestic Demand and Lower Costs
Dabur India, a prominent player in the consumer goods sector, has reported a notable 16.2% increase in fourth-quarter profit, exceeding analyst expectations due to strong domestic demand and decreased operational costs.
AmorePacific Reports Strong Q1 Results; Sparks Rally in Cosmetics Stocks Amid Chinese Market Recovery
AmorePacific, a leading player in the cosmetics industry, reported an unexpected operating profit for the first quarter of the year, prompting a surge in domestic cosmetics stocks as optimism grows over a rebound in Chinese consumer spending.
L’Oreal Paris China partners with McCann to reinterpret famous slogan
L’Oreal Paris China has partnered with McCann China and a series of celebrities to narrate the story behind the brand’s infamous slogan. The brand has also invited a series of ordinary Chinese women to share their interpretation of the ‘I’m Worth It’ tagline.
Lush Korea to expand use of locally sourced beans
Lush Korea has struck a deal with the Ministry of Agriculture, Food and Rural Affairs to up its use of locally sourced ingredients. The pair signed a memorandum of understanding which will see the ethical cosmetics brand use locally grown beans and pulses in beauty products.
Kylie Cosmetics launches in India
Kylie Cosmetics has announced its launch in India. Partnering with House of Beauty, a first for the Coty-backed brand, Jenner’s famous lip kits will be sold in 25 Sephora India stores nationwide and online via Sephora’s dedicated e-commerce site.
Laneige Appoints Travel Creator Won Ji as Brand Ambassador for Cream Skin
Laneige, a leader in functional beauty innovations, has announced the appointment of travel creator Won Ji as the new brand ambassador for its flagship product, the Cream Skin Cerapeptide™ Refiner.
L’Occitane’s Billionaire Owner Reinold Geiger Eyes Taking Company Private in a Potential US$7 Billion Deal
Reinold Geiger, billionaire owner of L’Occitane International SA, is reportedly nearing a bid to privatize the skin-care giant in a deal that could value the company at approximately US$7 billion, including debt.
Australia Updates Sunscreen Standards to Align with Global Best Practices
Standards Australia has released an updated sunscreen standard, AS/NZS 2604:2021, setting new benchmarks for sunscreen testing and labeling to ensure products sold in Australia and New Zealand meet international quality guidelines.
La Mer names King of Mandopop as first male ambassador
La Mer has named Jay Chou as its latest ambassador. The singer, dubbed the ‘King of Mandopop’ by his fans, is the Lauder-owned, luxury skin care brand’s first male ambassador.
Kao ramps up action on plastic packaging ahead of 2040 net zero deadline
Kao is aiming to achieve plastic packaging net zero waste by 2040 and negative waste by 2050 for plastic containers used and discharged in its business activities. The J-beauty manufacturer will reduce plastics used in its business activities as much as possible and then recycle plastic waste generated in society.
LG Household & Health Care tackles bullying with new campaign
LG Household & Health Care has launched a program designed to prevent bullying in schools. The School, smile! Initiative made its debut in seven schools across South Korea and is designed to teach emotional intelligence.
Escalating Trade Tensions: China Imposes Hefty Levy on U.S. Propionic Acid Amid Broader Trade Dispute
In a recent development that marks a significant escalation in the ongoing trade disputes between the U.S. and China, the Chinese government has imposed a substantial 43.5% levy on imports of U.S.-manufactured propionic acid.
Clio Cosmetics Bolsters Japanese Market Presence with Strategic Acquisitions
South Korea’s Clio Cosmetics Co. has significantly expanded its foothold in the Japanese beauty market by acquiring 100% stakes in Japanese cosmetics distributor Doowon and import agency Kiwami for 8.3 billion won (US$6 million).
P&G Australia and New Zealand names SVP and MD
Procter & Gamble has named Neal Reed as Senior Vice President and Managing Director of its Australia and New Zealand unit. He succeeds Kumar Venkatasubramanian, who is returning to India to lead the P&G India business.
Sephora Greater China names Xia Ding as Managing Director
Sephora has named Xia Ding as Managing Director of its Greater China unit. Ding will lead the LVMH-owned retailer’s business in Mainland China and Hong Kong, which spans some 350 stores, two e-commerce websites and associated digital platforms and apps.
Clinique La Prairie to debut Thai health resort in 2025
Clinique La Prairie has announced a partnership with Montara Hospitality Group to open a new health resort at Tri Vananda, Thailand. The cosmetics brand will operate the 40-villa resort projected for completion in 2025.
Henkel opens Central Asian HQ in Kazakhstan
Henkel is moving its Central Asian office to Kazakhstan. The German manufacturer of Schwarzkopf is also set to invest in further facilities in the country, bringing production closer to its central Asian customers.
IU Named Estée Lauder Ambassador
Estée Lauder has appointed the acclaimed Korean artist IU as their first Korean Global Brand Ambassador,
AS Watson Names Malina Ngai Group CEO
AS Watson has promoted Malina Ngai to Group CEO, effective May 1, 2024.
Indorama Ventures dials back on M&A in favor of reducing debt
Indorama Ventures Group CEO, Aloke Lohia has revealed that the company will not be pursuing further mergers and acquisitions, instead, it will focus on reducing its debt, prioritising a strong balance sheet and healthy cash flow over rapid growth.
AmorePacific’s Sulwhasoo opens Gamjang Pop-up Store
AmorePacific-owned Sulwhasoo has opened a pop-up store celebrating all things Ginseng at Shingsegae’s Centum City branch in Busan. The space is designed to mirror a spa and visitors are invited to experience different facets of the brand’s star ingredient in a variety of spaces.
Kose to close Tmall store
Kose is set to shutter its flagship Tmall store. The J-beauty manufacturer said the closure was the result of a ‘strategic adjustment’ but that it had no further plans to adjust its online offer in China.
Green Yip Appointed as L’Occitane’s Group New Regional Managing Director for APAC Travel Retail
The L’Occitane Group has appointed Green Yip as the Regional Managing Director for Travel Retail in the Asia-Pacific region,
Oasis Management Challenges Kao Corp to Transform and Tap Global Market Potential
Oasis Management, a Hong Kong-based activist investor, is launching a campaign against Japanese cosmetics giant Kao Corp, urging it to refine its brand portfolio and enhance marketing efforts.
Shanghai regulator publishes regulations for cosmetic advertising
The Shanghai Administration for Market Regulation and the Shanghai Medical Products Administration have published jointly the final version of the Shanghai Cosmetics Industry Advertising Compliance Guidelines.
L Catterton forms Joint Venture with former HUV boss
L Catterton has announced that it is forming a joint venture with Sanjiv Mehta, the former CEO of Hindustan Unilever. The new entity will be an investment vehicle targeting India’s consumer market.
Kao Becomes Japan’s First Approved Collector of Plastic Packaging
Kao has announced that it has received approval from Japan’s Ministry of Economy, Trade and Industry and Ministry of the Environment for the voluntary collection of plastic packaging at Kao business locations and in Kamakura City.
Beauty Farm Announces Stellar Annual Results and Strategic Acquisition of Naturad
Beauty Farm Medical and Health Industry Inc., a leading provider of beauty and wellness services in China, has released its annual financial results for the year ending December 31, 2023, highlighting a 31.2% increase in revenue and a 108.2% surge in net profit.
Good Glamm Group Appoints Kamal Lath as New Group CFO
Good Glamm Group announced Kamal Lath as its new Group Chief Financial Officer.
Hanni Named Gucci Beauty’s Latest Global Ambassador
Hanni, from K-pop group NewJeans, has been announced as Gucci Beauty’s latest global brand ambassador
KraveBeauty hits shelves in Sephora Southeast Asia
KraveBeauty is launching in bricks and mortar stores for the first time. The ‘slow skin care’ brand will hit shelves in 39 Sephora Southeast Asia locations across Malaysia, Thailand and Singapore from April.
Mumbai leapfrogs Beijing to become Asia’s capital of billionaires
The healthy competition between India and China just stepped up a gear as Mumbai has been announced as the Asian capital with the highest number of billionaires. The Indian finance center now houses 92 billionaires, compared to Beijing’s 91 and Shanghai’s 87.
Fenty Beauty to launch on Chinese market
Fenty Beauty is set to launch on the Chinese mainland. The launch coincides with Founder Rihanna’s appearance on the cover of Vogue China and was announced on the singer’s YouTube channel.
Vitality Brands announces acquisition of Essano
Vitality Brands has announced that it is set to acquire Kiwi beauty brand, Essano. The deal is expected to close by the end of March with Pencarrow Private Equity surrendering its stake in the brand– financial terms were not disclosed.
Shilla Duty Free’s Strategic Extension
The Shilla Duty Free Shop, has extended its concession at Hong Kong International Airport.
The Body Shop India Expands
The Body Shop India is set to significantly enhance its market presence by introducing 100 additional brand touchpoints across the country by 2025.
Sephora to exit South Korea market
Sephora has announced that it is pulling out of South Korea. On an Instagram post, the LVMH-owned retailer revealed that it would terminate operations with a phased withdrawal commencing from May 6, 2024.
The Estee Lauder Companies TR partners with China Duty Free Group
The Estee Lauder Companies Travel Retal has partnered with China Duty Free group to bring 15 of its prestige brands to CDFG’s new Global Beauty Plaza at Sanya International Duty Free Shopping Complex in Hainan.
US and China extend bilateral Science and Technology Agreement
The US and China have extended a bilateral deal that sets out how the world’s two largest economies cooperate in the fields of science and technology. The US-China Science and Technology agreement was first forged in 1979, and has been renewed every five years since, excepting in 2023, when a six-month extension was approved.
Is Daiso: South Korea’s New Haven for Beauty
Daiso, a popular single-price store in South Korea, has become an attractive retail channel for beauty products.
AS Watson Group Announces New CEO and Deputy CEO for Marionnaud
AS Watson Group announced the appointment of Kulvinder Birring as CEO and Gabriele Betti as Deputy CEO of Marionnaud Group.
Shiseido names President and CEO EMEA
Shiseido has named Alberto Noe as CEO for the EMEA region, effective immediately. Noe replaces Franck Marilly, who has been promoted to EMEA Chairman to organise and oversee the work of the Board of Directors.
LG Household & Healthcare to boost Japan presence with CNP
LG Household & Healthcare is hoping to boost its presence on the Japanese market with derma cosmetics brand, CNP. The K-beauty giant will create products specifically for the country’s skin care afficionados as well as up influencer activity.
Cle de Peau Beaute names Girls Who Code founder as recipient of Power of Radiance Awards 2024
Cle de Peau Beaute has named Reshma Saujani as the recipient of the Power of Radiance Awards 2024. The Girls Who Code Founder was recognized for her dedication to empowering girls in computer science via the non-profit.
CMG Pharmaceutical to launch in Vietnam
CMG Pharmaceutical has signed a deal with local distributor An Thinh Phat to launch on the Vietnamese market from May. The South Korean cosmetics firm will collaborate with Home & Mall Shopping to produce a dedicated line of beauty products and nutritional supplements for the market.
Fenty Beauty’s Grand Entrance into India: Rihanna’s Inclusive Vision Takes Center Stage
Rihanna’s Fenty Beauty launches in India through Nykaa, coinciding with her performance at a high-profile pre-wedding event in Jamnagar.
Carlyle Group Initiates Sale of Japanese Cosmetics Supplier Tokiwa
The Carlyle Group has initiated the sale of Tokiwa Corp, a Japanese cosmetics supplier, with the potential deal valuing the company at $800 million.
Reiwatakiya signs lease with Fashion Show Mall for Las Vegas store
Yoshitsu subsidiary, Reiwatakiya has announced that it has entered into a lease agreement with Fashion Show Mall for a new store in Las Vegas.
Yatsen FY2023: revenue drops 7.9 percent but Q4 uplift provides hope for ‘24
Yatsen has announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023. The fourth quarter saw the company return to growth with revenue up 6.7 percent yoy to RMB1.07 billion, although revenue for the full year was down 7.9 percent.
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