Bvlgari prudent about Asia expansion despite appetite for high-end fragrances
Italian luxury brand Bvlgari is eyeing huge opportunities in fast-growing luxury markets like India and Vietnam but will not rush an expansion despite the immense interest in high-end fragrances.
As part of its strategy to enhance brand desirability, BVLGARI has significantly limited its distribution network, reducing its global points of sale to around 6,000.
“Five years ago, it was 25,000. We cut 75% of distribution just to focus on where it really matters and pay tribute to the full universe of the brand,” said Jonathan Brinbaum, BVLGARI’s global managing director of the fragrances business unit.
This saw BVLGARI completely withdraw its operations in some markets such as South Korea, where it recently re-entered last year.
Shiseido’s serum foundation attracts new consumers, boosts Q1 sales
Japanese beauty major Shiseido Company’s serum foundation innovation is drawing in new consumers and boosting sales in its home market.
In Japan, Shiseido successfully delivered robust growth in its core brands, led by flagship brand SHISEIDO and Clé de Peau Beauté, due to a steady increase in consumers.
The firm highlighted that SHISEIDO’s Revitalessence Skin Glow Foundation was responsible for capturing a large share of new customers.
L’Oréal dives into soil microbe research to extract the best of nature
L’Oréal and a team of researchers from Singapore will study soil microbes and how they can improve soil quality and increase plant yields in a sustainable manner.
The joint research initiative aims to find new ways to improve soil health and increase plant yield without needing more land or relying on chemical fertilisers.
The aim of this pioneering research is to enhance the yield and quality of cosmetics ingredients without compromising on sustainability.
Clio Q1: Goodal, Dermatory skin care sales boost enhances overall profitability
Clio Cosmetics reported a boost in profitability for the first quarter (Q1) driven by efforts to improve the sales of skin care brands such as Goodal and Dermatory.
The South Korean beauty company achieved sales growth of 24% to KRW93bn (USD68m) while operating profit increased by 63% to KRW8.5bn (USD6.21m).
This marked 12 consecutive quarters of growth for the company.
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 six specific segments it has highlighted include face cleansing, sun care, light moisturisation, serums and treatments, weatherproof body care, and masstige beauty.