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Tag: K-Beauty

Retail Asia27/01/2021
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General

Pandemic batters South Korea’s K-beauty shop

6min0
Three years ago, Suh Kyung-bae was the second-richest person in South Korea. Today he’s barely Top 10, a stark reversal in a K-beauty boom known for minting billionaires, not breaking them. Suh’s $3.6 billion fortune, down from roughly $8 billion in 2017, is largely comprised of shares in his family’s cosmetics conglomerate, Amorepacific Group, which […]
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Retail Asia04/12/2019
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Fashion

K-beauty companies fined for Instagram promotions

1min0
Several major K-beauty companies were found guilty of misinforming consumers after paying influencers on social networks like Instagram to promote their products. South Korea’s Fair Trade Commission (FTC) ordered seven companies including AmorePacific, LG Household and Health Care and L’Oreal Korea to pay 269 million won (US$228,740) in fines. The K-beauty companies paid influencers on […]
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Retail Asia01/03/2019
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E-Tailing

Korean wave fuel 25% growth in Korean e-commerce exports

3min0
South Korea’s online exports surged 25 percent in 2018 from a year ago on the back of growing demand for K-beauty and K-pop related items such as album records and stationery supplies, government data showed. According to Korea Customs Service, Korea’s electronic commerce (e-commerce) exports or reverse overseas direct purchase volume reached US$3.25 billion last […]
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Retail Asia01/03/2019
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Fashion

Amorepacific facing painful dilemma

12min0
For Amorepacific, the last year has been painful in terms of both sales and brand development. The cosmetics giant saw its operating profit halve to 549 billion won (US$491 million) in 2018, just two years after it joined the “1 trillion-won sales club” in 2016 for the first time as a cosmetics maker. With its […]
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Retail Asia27/02/2019
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Fashion

Men make-up driving K-beauty boom

2min0
Men wearing makeup – once a practice unique to TV stars and celebrities – is becoming a part of popular culture in South Korea. As an increasing number of South Korean men are purchasing clothes, cosmetics, and other beauty products to take care of their looks, cosmetics goods for men are expanding both in terms […]
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Retail Asia30/01/2019
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Fashion

Time for South Korean cosmetics to face challenges

4min0
South Korean cosmetics stores that have been the drivers of the ‘K-Beauty’ industry for the past 15 years are facing a crisis, exposing their limitations. The cosmetics industry is undergoing a series of transformations due to decreased demand from China and a change in distribution structure resulting from stagnant domestic demand and increased competition. Nowadays, […]
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Retail Asia23/01/2019
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Fashion

The Lipstick Effect drives South Korea cosmetics sales

1min0
The Lipstick Effect has seen a rise in cosmetics sales despite South Korea’s economic downturn of 2018. The term The Lipstick Effect describes the phenomenon whereby colour cosmetics sales surge during a recession as consumers turn to small-ticket luxuries to lighten their mood. Major South Korean health and beauty retailer Olive Young saw a 35 […]
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Retail Asia19/12/2018
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Living

BTS adds 4 trillion won to the Korean economy

4min0
Popular boy band BTS’s annual economic value is estimated at over 4 trillion won ($3.5 billion), making it more lucrative than a medium-sized company. The group’s annual production inducement effect, which refers to the value generated in related industries, is estimated at around 4.1 trillion won, according to a report by Hyundai Research Institute (HRI) released […]
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Retail Asia06/12/2016
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Living

B2LiNK eyes global K-beauty market beyond China

5min
The Group of Two’s recent protectionists policies followed by Donald Trump’s victory in the U.S. presidential election and China’s economic retaliation against Korea over the deployment of a Terminal High Altitude Area Defense system seem to be serious risks for Korean exporters. B2LiNK CEO Lee So-hyung, however, confidently said no government can interfere with macro-trends […]
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Retail Asia12/10/2016
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Fashion

Chinese celebs promote ‘K-beauty’

3min
Internet celebrities in China, known as “Wang Hong” there, have been in the limelight among Korea’s cosmetics and retail industry officials, amid a chilly relationship between the two countries. Bilateral relations have soured since Korea decided to deploy the Terminal High Altitude Area Defense (THAAD) missile system. The online stars, who have millions of followers […]
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Retail Asia07/04/2016
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Fashion

K-beauty spreads worldwide

4min0
The ‘K-beauty’ market is expanding its sphere of influence beyond Asia, and reaching out to other global markets. According to Aju News, a Korean newspaper, Korean cosmetics brands are exploring new markets worldwide. As the global interest in K-pop and K-dramas is rising, women all over the world are now looking at K-cosmetics. Amore Pacific has been eyeing the […]
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Retail Asia13/10/2015
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Fashion

Blooming Sweet nail art concept goes global

2min
Blooming Sweet, the online shopping mall specialising in DIY nail art materials is rapidly gaining popularity in Hong Kong, Japan, Singapore and the US. CEO Kim Sun-Hee has been a famous nail artist in Korea for over 10 years, and launched Blooming Sweet in 2011 to promote the nail art market in Korea. Currently, Blooming […]
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