'Cheongidan', the representative line of luxury royal cosmetics brand 'The History of WHOO' (hereinafter referred to as 'THE WHOO'), has completed a renewal with a new look and will begin targeting the global market, starting with China, starting next month. THE WHOO Cheongidan is the most popular product in China and was renewed 13 years after its first launch in January 2010. To globally promote the newly introduced Cheongidan, LG Household & Health Care held the 'THE WHOO Cheongidan Art Fair in Shanghai' event at the Tank Shanghai Art Center, a complex cultural space in Shanghai, China,
2023 Global Cosmetic Focus Plan Ⅰ-USA and France Consumers in the United States, which boasts the world's largest single cosmetics market, and France, a recognized leader in the cosmetics industry, recognize the differentiation points of K-beauty, but give poor evaluations of the brand's popularity. At the same time, American consumers pointed out inconveniences during use, and French consumers responded by expressing both favorable reviews and dissatisfaction with the ingredients and raw materials. This is what the Korea Cosmetic Industry Research Institute (President Lee Jae-ran, www.kcii.re
The '2023 Intercharm Korea × Mintel Trend Awards' will be held for the first time this year. It will be held at COEX C and D Halls in Samseong-dong, Seoul from today (30th) to September 1st. The 'InterCHARM Korea. It was prepared by Mintel, a global trend research company, in partnership with Intercharm. At this year's awards, hundreds of products from about 400 beauty companies were analyzed. Mintel selected the winners based on ‘2023 Beauty Personal Care Trend Keywords’. Mintel trend keywords are data analyzed from consumer behavior patterns, consumption methods, and new product database. Th
Yóukè has returned. as a group. The tourism industry began to flourish. Lotte Duty Free Shop (CEO Kim Joo-nam) announced on the 23rd that about 150 group customers of Chinese passenger ships visited the Myeong-dong headquarters. It is the first time since March 2017 that more than 100 Chinese tourists have visited Lotte Duty Free. These tourists enjoyed shopping at Lotte Duty Free's Myeongdong headquarters. They mainly purchased K-beauty products such as Laneige and Mediheal and global brands such as Chanel and Lancome. A group of Chinese tourists arrived on the 22nd on the passenger ship New…
Amorepacific asserts that “there is no plan to artificially change the current system” It may be a new opportunity for small and medium-sized brands to enter offline... Prospects for the revival of 'road select shops' The off-line road shop (Roadshop channel) system, which has been passed down as 'Olive Young & Others', is facing a whirlwind of upheaval. On the 20th, LG Household & Health Care formalized its plan to convert the offline franchises (Nature Collection and The Face Shop) system that it had maintained so far into a 'supply contract'. To summarize the key point, this change…
As the export front in the Chinese market has cooled rapidly since last year, voices for diversification of export countries are also getting louder. Russia and Kazakhstan are two places that are worthy of attention even in this situation in which Korea's cosmetics exports are facing. In the case of Russia, export performance until the first half of last year was $168.52 million. This is a 31.9% increase compared to the same period last year, and it ranks 6th with a 4.1% share of total exports. Kazakhstan raised $36.71 million during this period. Although the market share is not high, the year
Korea's cosmetics exports in July recorded $649 million, up 5.8% from the same period last year. However, it failed to maintain the $700 million mark, which was $769 million in May and $746 million in June, a decrease of $97 million or 13.0% from the previous June. . According to the 'Export and Import Trends in July' announced by the Ministry of Trade, Industry and Energy (Minister Lee Chang-yang, www.motie.go.kr ) today (1st), Korea's cosmetics exports during this period were 467 million compared to last January. The dollar fell to $649 million, the third lowest this year after $646 million…
“Future K-Beauty Customers Meet Youths Around the World” Korea Cosmetics Industry Research Institute (President Lee Jae-ran· www.kcii.re.kr ) held the '2023 Saemangeum 25th World Scout Jamboree' held at the Jamboree site in Saemangeum, Jeollabuk-do from tomorrow (August 1st) to the 12th. ' to open a 'K-beauty promotion booth' and set out to catch future K-beauty potential customers. World Scout Jamboree, where researchers set up publicity booths, is an event hosted by the World Scout Federation in which youths from all over the world communicate and exchange, transcending differences in race,…
Ahead of the end-of-year enforcement of the US ’The Modernization of Cosmetics Regulation Act of 2022 (hereafter MoCRA), Korean cosmetics companies targeting the US cosmetics market are busy, and key points based on field experience A place to share information is provided. The Korea Cosmetics Association (Chairman Suh Kyung-bae, www.kcia.or.kr ) announced that it would hold its 30th small and medium-sized business CEO breakfast meeting on August 17 (Thu) at 7:30 a.m. in the Topaz Room (5th floor) of the Riverside Hotel. revealed The topic of this breakfast meeting was set to prepare for the i
In 2Q 2023, LG H&H Co., Ltd. (The Company) reported 1.8tr won in sales (-3.0% yoy), 158bn won in operating profit (-27.1% yoy). The Company sales decreased mainly due to Beauty’s 8% yoy decline, while HDB and Refreshment sales grew slightly yoy. Operating profit for the Company decreased due to persistent cost pressure and expenses related to reorganization and efficiency of domestic and US business. ■ 2Q 2023 Results by Business Segment ▲ Beauty business 2Q 2023 sales decreased 8.5% yoy to 781bn won and operating profit decreased 24.9% yoy to 70bn won. Despite positive growth in domestic…
Functional cosmetics screening status in the first half of 2023 by the Ministry of Food and Drug Safety In the first half of this year, a total of 524 cases were reviewed for functional cosmetics, an increase of 39 compared to the same period last year. Among them, sunscreen functional cosmetics were the most with 192 cases. The Ministry of Food and Drug Safety (Minister Oh Yoo-kyung, www.mfds.go.kr ) is supporting the development of safer and higher-quality cosmetics research and development through identification of functional cosmetics development trends. ' was released today (27th). Sunscr
Amorepacific Group recorded sales of 1.0308 trillion won and operating profit of 11.7 billion won in the last two quarters, sales increased by 0.4% year-on-year, and operating profit turned to black. Amorepacific said in a public announcement today (26th), “In the second quarter of this year, sales increased in most overseas markets and overall profitability showed improvement. In particular, sales in North America and EMEA (Europe, Middle East, etc.) more than doubled compared to the previous year. Sales in China have grown, and sales in the Japanese market, which is expanding its customer ba