Amorepacific starts year strongly in the West driven by Laneige and Innisfree
K-beauty major Amorepacifc has reported strong growth in Europe and the Americas in the first quarter (Q1) driven by expansion of key brands Laneige and Innisfree.
According to the firm’s Q1 reports, revenues from the western regions increased by 42% year-on-year to KRW105.1bn (USD77.28m).
This was driven by robust growth in both the Americas and Europe.
The former recorded a revenue increase of 40% to KRW87.8bn (USD64.56m).
Unilever identifies six key demand spaces to advance India beauty business
Unilever’s Indian subsidiary will invest in six key areas including sun care, masstige, and weatherproof body care to further its goal of becoming “a world-class beauty company”.
Hindustan Unilever (HUL) chief executive and managing director Rohit Jawa said the firm’s goal was to build a “future-fit portfolio” that would enable the firm to meet the rapidly evolving needs of its beauty consumers.
“The Indian beauty market is rapidly shifting with changing lifestyles, increased disposable income, exposure to global trends and a growing emphasis on self-care and wellness,” said Jawa.
Estée Lauder will debut first products developed by China R&D facility in Q4
Estée Lauder will introduce new products developed by a local team especially for its Chinese consumers in the fourth quarter (Q4) this year as part of efforts to accelerate innovation.
This was revealed during the Estée Lauder Companies’ Q1 earnings conference by president and chief executive Fabrizio Freda.
The first innovation from its newest R&D centre in China is set to debut in the latter half of the year under the Estée Lauder banner.
L’Oréal: China’s mass beauty market now ‘more dynamic’ than luxury
China’s beauty market is experiencing significant industry shift with the mass beauty market accelerating ahead of the luxury segment in the first quarter (Q1), says L’Oréal’s chief executive.
According to the firm’s Q1 results, growth was sluggish in mainland China. Alongside a weak travel retail market, L’Oréal reported a 1.1% like-for-like contraction in North Asia, which also includes Hong Kong, Japan, South Korea, and Taiwan.
North Asia was fuelled by the consumer products division in the thriving mass market. It was propelled by the impressive expansion of L’Oréal Paris, particularly with the Age Perfect range.
LG H&H beauty returns to growth on the back of successful renewal of The Whoo
The renewal of luxury K-beauty brand The Whoo has helped to bolster sales for LG Household & Healthcare (LG H&H) and restore the firm’s growth trajectory.
The South Korean consumer goods major announced that its sales and operating profit had returned to growth for first quarter (Q1) on April 25.
This was attributed to the company’s efforts to renew The Whoo, its flagship prestige beauty brand, which accounts for the lion’s share of beauty sales at 52%.