1 – Estée Lauder is preparing to increase its presence in all retail channels in China
Beauty giant Estée Lauder Companies said it will increase its coverage across all channels in China this year to capitalize on the growth potential of its beauty market.
Chairman, CEO and Director of The Estée Lauder Companies, Fabrizio Freda said he remained “absolutely excited about China’s potential.”
He noted that long-term trends, such as the rise of the middle class and rising per capita sales, all point to the growth of China’s beauty market.
The company aims to serve Chinese consumers”wherever they buy,said Freda.
2 – Kao to discontinue or divest 13 more of its beauty brands by 2024 as impact of pandemic lingers
Kao reflects on the decision to stop or divest 13 more of its beauty brands by 2024 to focus on its core G11 and R8 products, amid warnings that the impact of the pandemic will continue to be felt at the course of 12 months.
Speaking at the earnings call, Chairman and CEO Yoshihiro Hasebe said the company expects the impact of the pandemic to persist this year.
“COVID-19 hit us at the start of 2020, and we believe it will have an impact until the very end of this year.”
To that end, he said Kao intends to invest in a select group of brands and products in the future. The company had decided to stop or sell 28 brands and had already removed 15.
3 – Great goop! aiming to strengthen its position in the SEA sun care market through education and innovation
The American solar brand Supergoop! is stepping up efforts to champion the benefits of sunscreen and launch competitive products in the “super important” Southeast Asian market.
With high SPF consumption in the sunny SEA region, Supergoop! aims to strengthen its relationship with its existing customers while expanding its reach to a wider audience.
As part of its plans to ramp up sun care education in the SEA region, Supergoop! launched SPF Academy, which aims to educate consumers about the importance and benefits of wearing sunscreen.
“SEA is a key geography for Supergoop! and was the brand’s first entry point into Asia. With sunny weather and a skincare-conscious consumer base, both markets are the perfect home for Supergoop! In the region,” said Natalia Obolensky, Asia Pacific Managing Director at Supergoop!
4 – LG H&H gets into beauty tech with a mini tattoo printer for the North American market
South Korean company LG Household & Health Care is poised to enter the beauty tech space with a mini tattoo printer it plans to launch in North America in the fourth quarter of this year.
On January 25, LG Household & Health Care (LG H&H) announced that after a year of development, it was about to enter the beauty technology space with the launch of a mini tattoo printer .
The mini tattoo printer, which has the working name of Printly, is about 10cm tall. The device is linked to a companion mobile app where users can select the image they want to temporarily imprint on their skin.
Printly is set to debut in the North American market through Arctic Fox, an American vegan hair care brand acquired in 2021.
5 – L’Oréal explains how the growth of luxury fragrances is driven by the “explosion” of interest in China
French beauty giant L’Oreal Group has attributed the luxury fragrance boom to growing appreciation among Chinese consumers and expects it to continue to grow by double digits in the coming years.
During the firm’s 2021 annual results conference, Cyril Chapuy, president of the L’Oréal Luxe division, pointed out that the firm’s luxury fragrance had achieved remarkable success over the past year, particularly in China.
“Historically, perfume was a small category in China – less than 5% of the Chinese luxury market. It is growing very rapidly, in the last month of the year perfume accounted for almost 10% of the Chinese luxury market with a new generation of Chinese customers discovering perfume and loving the experience,” said Cyril Chapuy, President of the L’Oréal Luxe Division,
He expressed his optimism about the future of the category, pointing out that the company is the world’s leading producer of luxury fragrances with more than 20% market share.