Share prices of Thai cosmetic firms jump as cannabis market ramps up
Share prices of Thai consumer firms have jumped following the government decision to allow the use of most parts of cannabis and hemp in cosmetics and food, according to a report by Reuters.
Yatsen revenues soar 72.6 percent in 2020
Chinese beauty company Yatsen has reported full year 2020 results, with net revenues up by 72.6 percent to RMB5.23 billion (US$802.0 million). The rise was primarily driven by the growth in sales volume of beauty products thanks to an increase in the number of customers.
Juicy Chemistry raises US$6.3 million in Series A funding round
Juicy Chemistry has raised some US$6.3 million in a Series A funding round led by Verlinvest, according to a report published by Entrepreneur.com.
Coupang completes largest US IPO of the year to date
Shares in Seoul-based e-commerce company Coupang started trading last Thursday on the New York Stock Exchange at US$35 per share, above the upwardly revised range, to raise US$4.6 billion, according to a report published by Nikkei Asia.
US, Australia, India and Japan to partner over rare earth purchase
The US, Australia, India and Japan are in talks over the possibility of partnering over rare earth procurement, according to a report published by Nikkei Asia.
Amorepacific becomes first Korean beauty company to join RE100
Amorepacific has become the first Korean company to join the global RE100 initiative.
Molton Brown launches new signature dispenser to reduce waste
Kao-owned Molton Brown has launched a new signature dispenser that will help reduce waste and excess spending.
Lancôme Travel Retail Asia Pacific partners with China Duty Free Group to launch sustainable pop-up
Lancôme Travel Retail Asia Pacific has teamed up with China Duty Free Group to launch a new sustainability initiative in Sanya, Hainan, named Let’s Grow Happiness.
Elizabeth Arden names Sui He Global Brand Ambassador
Elizabeth Arden has announced the appointment of supermodel and actor Sui He as Global Brand Ambassador for its skin care portfolio.
L’Oréal debuts virtual idol for Chinese market
L’Oréal Group has launched a virtual idol for the Chinese market, according to a report published by TechiAzi. The anime-style character, who has been dubbed Mr Ou, is charged with creating content for the French beauty giant’s social media channels.
Muji to dedicate 30 percent of store footprint to food
Muji is preparing to up its grocery aisle to a department, according to a report published by Nikkei Asia. The Ryohin Keikaku-owned retailer, which is known for its homeware, will dedicate up to a third of the sales floor in new stores to food.
Chinese beauty start up Yatsen acquires Eve Lom
Chinese cosmetics start up company Yatsen has acquired Eve Lom from Manzanita Capital.
Hindustan Unilever aims to be waste neutral by year end
Hindustan Unilever (HUL) has announced that it will achieve 100 percent plastic waste collection in 2020, meaning it will collect and process more packaging waste than it uses in its production.
UCO Cosmetics mulls Hong Kong IPO
Chinese e-commerce servicing firm, UCO Cosmetics is mulling floating on the Hong Kong stock exchange, according to a report published by Bloomberg quoting sources ‘familiar with the matter’.
Lotte Shopping struggles to grow online presence
Lotte Shopping’s online shopping platform, Lotte On is struggling to attract repeat visitors to its recently launched e-commerce facility, according to a report published by The Korea Times.
Avon named one of Philippines’ top employers
Avon Philippines has been recognized as a Top Employer by the Top Employer Institute for its employee work policies, according to a report published by the Manila Standard.
Resale service Reflaunt raises $2.7 million in pre-series A funding round
Resale platform Reflaunt has raised $2.7 million in a pre-series A funding round from luxury investors, led by SLS Journey, the investment arm of luxury fashion distributor MadaLuxe Group.
Twitter introduces direct message voice note function in India, Brazil and Japan
Twitter has introduced voice messaging for direct messages, which is being rolled out in stages across India, Brazil and Japan.
AirAsia Food launches into Singapore; eyes beauty collaborations
AirAsia’s delivery service AirAsia Food is set to start operations in Singapore as of next month, with the primarily food-based operation reportedly eyeing collaborations in other markets, such as cosmetics.
Digital agency Filter Coffee Co wins Bioré account
Digital agency Filter Coffee Co has won the creative account for Japanese skincare brand Bioré, according to a report by Best Media Info.
AmorePacific furthers sustainable mission with planet-friendly gift set
AmorePacific has launched an eco-friendly gift set under its Earth & Us brand, according to a report published by The Korea Herald.
Nigeria’s FairMoney has high hopes for Indian expansion
Licensed online lender FairMoney is hoping to replicate its success in Nigeria on the Indian market, according to a report published by Tech Crunch.
Singapore opens COVID-secure meeting facility
Singapore has cut the ribbon on a new venue designed to facilitate in-person meetings without upping the risk of COVID-19 transmission, according to a report published by Nikkei Asia.
Shiseido partners with We Are One Ocean campaign; calls for protection of 30 percent of ocean by 2030
Shiseido has been announced as an official partner of the We Are One Ocean campaign, which calls for the protection of 30 percent of our one ocean by 2030.
Poshmark expands into Australia following IPO
U.S. fashion and beauty e-tailer Poshmark is expanding its presence into Australia, a move that follows its January IPO, according to a report by Bloomberg.
Indian beauty ad spend forecast to grow 7.6 percent this year
Advertising spend across the beauty sector is forecast to grow 7.6 percent a year up until 2022, according to a report published by Live Mint quoting figures released by media agency, Zenith.
AmorePacific signs Memorandum of Understanding with Shoppee
AmorePacific has signed a Memorandum of Understanding with leading e-commerce platform, Shopee to strengthen their regional partnership and accelerate the growth of K-beauty in the booming online beauty category in Southeast Asia.
Shiseido unveils strategy for recovery by 2023
Shiseido has developed a new medium- to long-term strategy, named WIN 2023 and Beyond, which summarizes its basic strategy for the three years up until 2023 and its vision through 2030 and beyond.
L’Oréal FY2020: Record online sales accounts for more than a quarter of 2020 total as recovery continues
L’Oréal has announced its results for the final quarter and full year of 2020. The French beauty giant saw sales rise 4.9 percent yoy (like-for-like) in the final three months of the year for an overall drop of 4.1 percent for 2020 versus 2019.
DFS signs up to Brisbane’s Queen’s Wharf Development
LVMH-owned DFS has signed on the dotted line to deliver 6,000 sqm of luxury retail floorspace in the AU$3.6 billion Queen’s Wharf development in Brisbane, according to a report published by Business News Australia.
Shiseido relaunches male grooming range; adds male make-up
Shiseido has announced the relaunch of its Shiseido Men’s range, which will feature male beauty products.
TikTok unveils e-commerce drive to challenge Facebook et al
TikTok is said to be gearing up for a huge e-commerce push throughout the U.S. according to the Financial Times, with sources stating they have viewed new features set to be introduced this year.
China’s Hainan province opens two more duty free stores
China’s island province of Hainan has opened two new duty free stores, taking the total number in the province to nine.
TikTok plans e-commerce drive
TikTok is gearing up to introduce a number of features to its site that will enable e-commerce and affiliate marketing this year, according to a report published by the Financial Times.
Kao merges Kanebo and Sofina to strengthen brand communications
Kao has announced that it is creating a new beauty consulting business via the merger of its Kanebo and Sofina Beauty Consulting Companies. Kao Beauty Brands Counseling Co, as the new company will be known, will offer professional counselling conducted by beauty consultants.
Coty opens Gucci Beauty flagship on Tmall Luxury Pavilion
Coty has announced the opening of the Gucci Beauty flagship on Alibaba’s Tmall Luxury Pavilion.
Net loss widens at AmorePacific as sales plummet 13.3 percent in Q4
AmorePacific Corp has reported its results for the fourth quarter of fiscal 2020, according to a report published by The Korea Herald and saw its net loss widen to the tune of 1.7 percent year on year.
Reckitt Benckiser Hong Kong Wellness in Action Index to promote wellness ahead of Lunar New Year
Reckitt Benckiser (RB) has released the findings of its Hong Kong Wellness in Action Index in a bid to help promote wellness amongst Hong Kong consumers ahead of the Lunar New Year, according to Taiwan News.
Shiseido divests personal care business to CVC in $1.5bn deal
Shiseido has announced the sale of its shampoo and affordable skin care business to CVC Capital Partners, in a deal valued at 160 billion yen ($1.52bn).
Japanese fashion retail site ZOZO launches new beauty platform ZOZOCOSME
Japanese fashion retail site ZOZO has announced the launch of its new beauty platform ZOZOCOSME, which is set to go live in March.
What pandemic? LG Household & Health Care reports record-breaking Q4 and FY sales
While the pandemic has proven disastrous for many, LG Household & Health Care has reported its best-ever results for the fourth quarter and full year, according to a report published by Pulse News.
Reckitt Benckiser leads funding round for Bombay Shaving Co
Reckitt Benckiser has been named as lead investor in a R45 crore funding round for Visage Lines Personal Care, according to a report published by Mint.
L’Occitane Hong Kong cuts the ribbon on sustainable flagship
L’Occitane Hong Kong has cut the ribbon on its first Hong Kong concept store. The space centers around a sustainability theme and is designed to encourage shoppers to reduce and recycle.
AmorePacific teams up with Virgil Abloh’s Off-White brand on new fashion and beauty collaboration
AmorePacific has teamed up with Italian brand Off-White to launch a new beauty and fashion collaboration named the Protection Box.
Lotte and Shilla close duty-free stores at South Korea’s Incheon Airport
Lotte and Shilla have announced the closure of duty-free stores at Incheon Airport, South Korea, according to a report by the Korea Herald.
Thai education authority green lights cannabis course
Thailand’s Health and Education Ministries have agreed to create a course that will guide students through the use of cannabis in cosmetics and food, according to a report published by Bloomberg.
Malaysia Airlines launches online shopping platform
Malaysia Airlines’ frequent flyer program, Enrich has announced the launch of a new online shopping platform called Enrich Shoppe.
Our personal care business is not for sale: Shiseido hits back at rumors
Shiseido has released a statement in response to a news report published by Bloomberg stating that the J-beauty giant was poised to transfer its Personal Care business.
Tokyo’s Ginza Six mall closes more stores as pandemic keeps shoppers away
THE WHAT? Ginza Six mall located in Tokyo has shuttered more stores due to the ongoing COVID-19 travel bans, with tourists and high-end consumers staying away from the shopping destination, according to a report by Reuters. THE DETAILS According to the mall, 15...
Kao partners with Nykaa to launch leading Bioré sunscreen brand into India
Japanese cosmetics company Kao has launched its leading sunscreen brand Bioré into the Indian market.
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