Shiseido Cuts Forecast Amid Sales Dip
Shiseido, a Japanese cosmetics company, has reduced its full-year profit forecast due to a drop in demand from Chinese consumers.
Shein Targets High IPO Valuation
Shein, the online fast fashion retailer, is aiming for a valuation of US$80 to US$90 billion for its potential U.S. initial public offering (IPO).
Yakult opens café and beauty salon in Japan’s Utsunomiya
Yakult’s Utsunomiya-based distributor has opened a café, beauty salon and gallery space in Japan’s Tochigi prefecture. It is said to be the first of its kind.
Kao releases policy on biodiversity
Kao has revised its Action Policies on Conservation of Biodiversity via its newly published Action Policy on Biodiversity. The J-beauty firm will continue to actively engage in biodiversity conservation and restoration as well as take actions that help nature regenerate.
Nykaa owner reports slowest quarterly revenue rise since lPO; up 22.4 percent
FSN E-commerce Ventures has reported its results for the three months to September 30, 2023. The owner of Nykaa saw revenue rise 22.4 percent year-on-year to ₹15.07 billion – its slowest growth since its November 2021 listing.
The Estee Lauder Companies and Nykaa announce winners of Beauty&You Awards
The Estee Lauder Companies and Nykaa have announced the winners of their 2023 Beauty&You Awards in India.
Sephora, Reliance Forge India Beauty Alliance
Sephora has partnered with Reliance Beauty & Personal Care Limited, a subsidiary of Reliance Retail Ventures Limited, to enhance its prestige beauty retail in India, granting RRVL exclusive rights to expand Sephora’s presence in the country.
Amorepacific Strengthens Global Presence with COSRX
Amorepacific has expanded its presence in the global market by acquiring additional shares of COSRX, making COSRX a subsidiary of Amorepacific.
Shiseido to offer postpartum support service to employees
Shiseido has unveiled an employee childcare support service in partnership with Kangaroom+. The service will provide housework and child care assistance by licensed, qualified postpartum care professionals to employees with children aged under 3 months.
AmorePacific Q3: sales drop 5.7 percent but net profit soars from shareholding gains
AmorePacific Group has reported its results for the third quarter of the current financial year. The K-beauty behemoth saw net sales drop 5.7 percent yoy to KRW963.35 billion, while operating profit decreased 13 percent.
Tmall to offer aesthetics treatments; Hydrafacial makes its debut
The Beauty Health Company has announced the launch of its first DTC sales channel on Tmall. The Californian firm’s flagship brand, Hydrafacial will offer a series of skin health treatment packages via the Chinese e-commerce platform, which can then be redeemed at a verified provider.
Dr.Jart+ Unveils ENHYPEN as Ambassadors
Dr.Jart+ has named K-pop group ENHYPEN as their first global ambassador.
Wei Daxun Named TOM FORD BEAUTY Ambassador
Estee Lauder-owned TOM FORD BEAUTY has officially appointed Wei Daxun as its fragrance ambassador, with plans to release a new advertising campaign.
Hong Kong-listed Prada to explore dual listing
Prada is said to be considering listing on the Milan Bourse. The Italian fashion designer is currently listed in Hong Kong and is mulling a dual listing on its home turf.
L’Occitane Q2 2024: Sales rise 17.1 percent thanks to Sol de Janeiro boom
L’Occitane has announced its unaudited results for the quarter ended September 30, 2023. The natural cosmetics group said that it ‘maintained solid momentum’ in the first half of fiscal 2024, with sales rising 18.5 percent (reported) yoy to €1,072 million. Q2 sales increased 17.1 percent to €569.8 million.
J-beauty retailer Yoshitsu to open stores in Canada
Yoshitsu has announced that it is set to launch direct-sale stores in Canada. The shops will be designed to cater to the local demand for J-beauty.
SHISEIDO Opens First India Store
SHISEIDO has opened it’s first independent boutique store in India, located at Inorbit Mall in Malad, Mumbai.
P&G Evaluates Sale of Sassoon China
Procter & Gamble Co. is considering selling its Chinese operations of the hair-care brand VS Sassoon, as reported by sources familiar with the situation.
The Estee Lauder Companies partners with SK Chemicals on circular packaging solution
SK Chemicals has announced that it has signed a letter of intent with The Estee Lauder Companies to supply circular recycling solutions.
The Body Shop pins hopes on Indian market; some 50 more stores planned
Could India’s booming beauty market offer salvation to the struggling Body Shop? The Natura &Co-owned business is said to be planning to open some 50 stores across tier 3 And 4 cities across the country.
Kao cuts the ribbon on Sensai Shanghai flagship
Kao has unveiled its first flagship store for its Sensai brand in Shanghai, China. The experience-based concept store is divided into two zones; an immersive spa and shopping area.
UAE and South Korea Conclude Bilateral Trade Agreement
South Korea has reached a Comprehensive Economic Partnership Agreement (CEPA), a form of free trade agreement (FTA), with the United Arab Emirates (UAE), marking South Korea’s first FTA with an Arab nation.
Shinsegae’s Poiret Targets Global Luxury
Shinsegae International is undergoing a strategic transformation, transitioning from being a local importer of premium beauty products to entering the global luxury cosmetics market with its brand, Poiret.
Big Tree Cloud to list on Nasdaq via merger with Plutonian Acquisition Corp
Special Purpose Acquisition Company, Plutonian Acquisition Corp is set to merge with Big Tree Cloud. Following the merger, the Chinese feminine hygiene manufacturer will be operated under a holding firm called Big Tree Cloud Holdings and listed on the Nasdaq Stock Market.
L’Oreal China opens Beauty Everything in the World exhibition
L’Oreal China has unveiled an exhibition that celebrates beauty and tolerance. Beauty Everything in the World, as the show has been dubbed, is located at Chengdu’s Courtyard No 1 and is free to view.
Gucci names Davika Hoorne as face of beauty range
Gucci has named Davika Hoorne as Brand Ambassador for its fashion and beauty ranges. The model and actor is the Kering owned brand’s first Thai ambassador.
ADIA snaps up minority stake in Reliance Retail
The Abu Dhabi Investment Authority (ADIA) has upped its stake in Reliance Retail. The UAE-based firm will purchase an additional 0.6 percent in Ambani’s empire, for ₹49.7 billion.
Shukran Korea Unveils Halal-Check Platform for Korean Products
Shukran Korea Inc., a Korean startup, has developed a platform that provides Halal and allergenic safety checks for Korean cosmetics and food products, targeting the Middle Eastern market.
TikTok Halts Online Retail in Indonesia Following E-commerce Ban
TikTok has shut down its online retail operations in Indonesia following a ban on e-commerce activities on social media.
Marcelo Claure Steps Up as SHEIN’s Group Vice Chairman
Marcelo Claure, former CEO of SoftBank Group International and current investor, has been appointed SHEIN’s Group Vice Chairman.
DFS to open seven star luxury retail destination in Hainan
DFS has announced that it will open a seven-star retail and entertainment destination in Sanya, Hainan, China by 2026. DFS Yalong Bay, as the new 128,000 sq m site will be known will feature more than 1,000 luxury brands.
New Unilever Philippines facility to increase production by 15 percent
Unilever Philippines has ramped up production by 15 percent thanks to an €80 million investment in a state-of-the-art facility.
Garnier partners with Great Barrier Reef Foundation
Garnier and the Great Barrier Reef Foundation have announced a multi-year partnership to support the survival of the world’s largest coral reef system.
Kao to sell a third of beauty portfolio as profits continue to fall
Kao is mulling the sale of several non-core cosmetics brands in a bid to return to profit. The Japanese owner of Molton Brown is forecasting a further drop in net profit for 2023.
P&G India Announces New Fund
Procter & Gamble India (P&G India) is setting up a ‘P&G Supply Chain Catalyst Fund’ worth 300 crore.
Shinsegae Secures Exclusive Deal with Dolce & Gabbana Beauty in South Korea
Shinsegae International has entered into an exclusive deal with Dolce & Gabbana to distribute its beauty products in South Korea.
LG H&H snaps up K-beauty’s Hince
LG H&H has announced that it has agreed to acquire Vivawave for KRW42.5 billion. Vivawave’s make-up brand Hince is a millennial favourite, particularly popular in Japan.
CDFI launches shopper reward program
China Duty Free International has teamed up with UnionPay International to launch a shopper reward program. The All-in-One Shopping Rewards scheme is a cross-border promotion available in Hong Kong, Macau and Cambodian stores.
Shilla Duty Free and Estee Lauder host virtual beauty class
Shilla Duty Free and Estee Lauder have teamed up to host a virtual beauty class. Held in honor of the launch Lauder’s Advanced Night Repair Rescue Solution Serum, the online tutorial was posted on both Shilla’s website and its YouTube channel.
Shiseido Launches Wellness Brand SBW
Shiseido is set to initiate its Inner Beauty Business, marking its entry into the wellness sector by launching a new brand, SHISEIDO BEAUTY WELLNESS (SBW).
Schwarzkopf Taps Jim Sarbh for Indian Market Expansion
Schwarzkopf Professional has partnered with Jim Sarbh, designating him as their ‘mane man’.
L’Oréal Leaps into Chinese Biotech
L’Oréal has announced a minority investment in the Chinese biotech company, SHINEHIGH INNOVATION.
Climate champion: AmorePacific named Market Trailblazer at RE100 Leadership Awards
AmorePacific scooped the Market Trailblazer award at the RE100 Leadership Awards, held during Climate Week NYC.
L Catterton’s first Chinese yuan fund named as lead investor in Trautec’s CNY200 million series B round
Chinese collagen tech start-up, Trautec Medical Technology has raised CNY200 million in a Series B funding round led by L Catterton’s first Chinese yuan fund and CLSA Asset Management.
L’Oréal announces new executive hires; creates new role for L’Oréal China
L’Oréal has announced a number of important moves within its executive committee. Fabrice Megarbane will take on the Chief Global Growth Officer role following the retirement of Frederic Roze, while Vincent Boinay will step into Megarbane’s shoes as President of the North Asia Zone and CEO for L’Oréal China.
Shein to pile US$85 million into CSR initiatives
Shein has set aside a pot of US$85 million for global community empowerment over the next five years. The fast fashion firm will use the fund to support stakeholders as part of its wider ESG program.
KOSÉ’s ADDICTION TOKYO: Japan’s Beauty Mastery Lands in New York
KOSÉ Corporation, a prominent cosmetic company in Japan, is bringing ADDICTION TOKYO, a Tokyo-based makeup artist brand, to the US market.
Estée Lauder Invests in Code Mint
Estée Lauder Companies’ investment division, New Incubation Ventures (NIV), has revealed its acquisition of a minority share in Code Mint, a renowned clean beauty brand from China.
AmorePacific’s Laneige lands in Mexico
AmorePacific has entered the Mexican market. The K-beauty behemoth made its debut with its Laneige brand via Sephora Mexico’s website and will hit shelves in 36 of Sephora Mexico’s bricks and mortar stores later this month.
India emerges as global talent hub; L’Oreal names Manashi Guha as CPD MD, UK & Ireland
L’Oreal has named Indian national Manashi Guha as Managing Director, Consumer Products Division, UK & Ireland. The appointment reflects growing global leadership talent emerging from the SAPMENA region.
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