Financial focus: Most-read news on business and financial updates in APAC beauty
K-beauty brand Dear Dahlia eyeing major expansion in the Middle East to capture luxury beauty opportunities
Luxury vegan beauty brand Dear Dahlia from South Korea is set on expanding its presence in the Middle East, with new markets including Egypt, Kuwait, and Bahrain on the cards for this year.
The brand partnered with luxury beauty retailer FACES, which operates around 70 stores in eight markets in the region, including United Arab Emirates (UAE), Kuwait, and Saudi Arabia.
By the end of the first half of this year, the brand expects to be available in 36 stores. The second half of the year will be dedicated to expanding its presence to more markets to solidify its position in the Middle East.
How to win over… beauty consumers in a rebounding travel retail market
From pop-ups to new launches, and digital immersion to sustainability, we reveal how major brands and duty-free retail giants are expecting an imminent travel retail beauty boom as travellers once again take to the skies.
In this feature, we explore the appeal of duty-free shopping, and the key purchase drivers and look at the future challenges.
Asia Pacific is home to some of the most vibrant travel retail markets, setting the stage for all the major beauty brands to host striking pop-up campaigns and make a splash with new launches.
Yatsen hinges bets on Douyin and offline retail to ‘ease sales decline’ of Perfect Diary
Chinese cosmetics company Yatsen Holdings is moving to help flagship make-up brand Perfect Diary recover from its recent decline amid the sluggishness of the colour cosmetics market in China.
The firm was moving to improve the brand’s profitability and were looking at several ways to “ease sales decline” for the brand, including putting more focus into Douyin.
Furthermore, the company is aiming to expand Perfect Diary’s third-party distribution, targeting major offline beauty chains, said CEO Huang Jinfeng.
Estée Lauder CEO remains ‘enthusiastic’ about China despite growing concerns
The CEO of the Estée Lauder Companies has underlined his strong conviction in China’s beauty market despite a recent dip in performance and fears related to an economic recession.
CEO Fabrizio Freda said there was “no doubt” that the current limitations in China were temporary.
“I want to clarify that the long-term fundamental of global prestige beauty in China, and in travel retail in China remains very, very good. Actually, I personally have never been more enthusiastic about the opportunity. When the market rebounds also should be much more profitable."
Kosé pushing forward with Decorté expansion in ‘worrisome’ China market
Japanese cosmetics company Kosé Corporation is pushing ahead with the expansion of its ‘high-prestige’ brand Decorté in China despite tough market conditions.
Speaking during the firm’s earnings conference, director and chief financial officer Shinichi Mochizuki said the firm was expecting tough times ahead in China.
Despite this, the company has plans to launch around 15 more Decorté counters in department stores as well as two more on the duty-free mecca of Hainan Island.