Intercos divests minority stake to Singapore’s GIC
Intercos has agreed the sale of minority stakes in the subholdings that control the company to Singapore-based wealth fund GIC, according to a report by WWD.com.
Health supplement company LemonBox completes pre-A funding round
Health supplement company LemonBox has completed a pre-A round of $2.5 million, led by Panda Capital and followed by Y Combinator, according to Tech Crunch.
Press rewind: AmorePacific heralds technology it claims can reverse aging
AmorePacific R&D Center and KAIST have unveiled a technology that can reverse the aging process in human dermal fibroblasts.
Plum raises Rs 110 crore in funding round
Indian cosmetics manufacturer Plum has raised some Rs 110 crore in a Series B funding round led by Faering Capital, according to a report published by Tech in Asia. Unilever Ventures and Trifecta Capital were also name-checked as participants.
Unilever New Zealand to trial four-day working week
Unilever New Zealand is set to become the first global company to pilot a four-day working week at full pay in Aotearoa. The UK FMCG giant’s 81 employees will all be eligible to participate in the trial.
China slaps fines on Chanel over skin care claims
Chanel has been fined for violating China’s Regulations on Cosmetics Hygiene Supervision and the Advertising Law of the People’s Republic of China, according to a report published by Jing Daily.
Thailand to allow use of cannabis in cosmetic products
Thailand has made a landmark decision to allow the use of most parts of cannabis and hemp for cosmetics and food, with individuals and businesses now also being able to cultivate hemp seed and seed extract.
Perfect Corp teams up with Ultima II to launch AR & AI virtual make-over
Perfect Corp has teamed up with Ultima II, an Indonesian skincare and makeup company, to launch an AR & AI virtual make-over on the brand’s website.
Shiseido unveils study into inflammatory-related aging
Shiseido has discovered that age-related inflammatory factors can accelerate aging through the damage they wreak on epidermal stem cells.
Fidelity invests in Nykaa
Nykaa has welcomed Fidelity Management & Research on board as one of its investors, according to a report published by Livemint.
Risk associated with Indonesian palm oil pegged at US$10 billion for firms
Companies that produce, source or use Indonesian palm oil could be exposed to US$10 billion due to reputational and market risks, according to a report published by Bloomberg.
AGC designs AI mirror for Japanese market, named Mirroria
Japanese manufacturer AGC has developed an Artificial Intelligence smart mirror, which allows consumers to apply make-up while receiving visual help from beauty professional on the same mirror.
India regulator approves Reliance Industries acquisition of Future Retail; blocks Amazon’s calls to stop the deal
Reliance Industries planned $3.5 billion acquisition of Future Retail has been given the go-ahead from the Competition Commission of India, ignoring calls from Amazon to block the deal, according to Bloomberg.com.
Sephora Singapore to offer buy now, pay later payment terms through Atome partnership
Sephora Singapore is set to offer consumers a buy now, pay later payment scheme following its recent partnership with BNPL service Atome.
Beiersdorf debuts new face care brand Chaul in South Korea
Beiersdorf has announced the launch of its first brand to be developed exclusively for the Asian market. Chaul, as the face care line has been dubbed, is billed as ushering in a new type of facial care range – ‘mindful skin care’ – in the premium segment.
AmorePacific piles KRW3 billion into content creation firm
AmorePacific has piled KRW30 billion into beauty content creator network DMIL, according to a report published by Aju Daily.
Yatsen Global raises US$617 million in US IPO
Yatsen Holding raised some US$617 million in a US IPO, selling 58.75 million American depositary shares for US$10.50 each, according to a report published by Bloomberg.
L’Oréal Paris appoints Visna Lim to Global Chief Digital Officer
L’Oréal Paris has announced the promotion of Visna Lim to Global Chief Digital Officer, and will be based in Paris, according to Marketing Interactive.
Ethical beauty brand Lush undercuts Australian workers by $4.4 million over eight years
Ethical beauty brand Lush Australia has been found to have underpaid Australian workers by $4.4 million between 2010 and 2018, according to a report by the Guardian.
Shiseido announces candidates for Board of Directors shake-up
Shiseido has announced the candidates for its Directors and Audit & Supervisory Board Members, which will be voted on at its General Meeting of Shareholders in late March 2021.
Now Walmart steps back from Japan; sells majority stake in Seiyu to KKR
Walmart and Rakuten have announced the signing of definitive agreements under which KKR will purchase a majority stake, and a new Rakuten subsidiary will purchase a minority stake in Seiyu. The deal values the business at ¥172.5 billion.
Nudestix unveils Pony Park collab
Nudestix has teamed up with K-beauty influencer Pony Park to launch a limited edition, five-piece collection.
China to regulate livestreaming
The Chinese government is preparing to usher in a framework purporting to regulate the country’s booming livestreaming industry, according to a report published by Reuters.
AmorePacific names new President
AmorePacific has named Kim Seung-Hwan as its next Group President, according to a report published by The Korea Herald.
Aekung opens a flagship store on Tmall
K-beauty’s Aekung has unveiled a flagship digital store on Alibaba-owned Tmall, according to a report published by Aju Business Daily.
L’Oréal teams up with Emoji to promote Lancôme skincare in China
L’Oréal has teamed up with Emoji The Iconic Brand and Medialink Group to market Lancôme Tonique Confort Skincare Collection in China.
Shiseido announces new management system as part of new ‘Win 2023’ strategy
Shiseido has announced a new management system of Executive Officers as part of its new medium-term strategy, named Win 2023.
Katy Perry performs for Alibaba’s Single’s Day; e-commerce giant smashes last year’s sales in 30 minutes
Alibaba has unveiled a range of online promotions in the absence of physical events for its annual 11th November Single’s Day, with the e-commerce giant topping last year’s 24-hour total in the first 30 minutes, according to a report by Bloomberg.com.
MyGlamm offers show of confidence in high street retail; opens largest beauty store in India
MyGlamm has opened a new 3000 sq ft beauty store, said to be the largest space in India – offering a boost of confidence in high street retail following the pandemic.
Shiseido slashes sales forecast as lockdown 2.0 sweeps west
Shiseido has reported lower-than-expected net sales for the third quarter of the current financial year, and cut its sales forecast for the full year accordingly.
‘That doesn’t go well with Asian skin tone’: Lauder under fire for unsolicited product switch
Estee Lauder has come under fire after it took it upon itself to switch a product out of a customer’s order because ‘it does not go well with Asian skin tone’, according to a report published by Korea JoongAng Daily. The order was fulfilled via a Lauder concession in Shinsegae Department Store’s Gangnam branch, Seoul.
Alibaba September Quarter 2020: revenue soars 30 percent
Alibaba has reported its results for the quarter ended September 30, 2020. The Chinese e-commerce behemoth saw revenue swell 30 percent to hit RMB155,059 million, with active customers up 15 million on last year’s count and EBITDA up 28 percent year-on-year.
L’Oréal pulls both online and offline NYX stores from Thailand
L’Oréal has pulled both online and offline sales of its NYX brand in Thailand following what is presumed to be a drop in sales due to the ongoing effects of COVID-19.
Nivea India pushes milk as key facial wash ingredient in new ad campaign
Nivea India has urged consumers to forego normal face wash in favor of the benefits of milk as part of a new advertising campaign for its Milk Delights Face Wash product, according to a report by Exchange4Media.
Lagardere Travel Retail opens eight new stores in Chinese airports
Lagardère Travel Retail has cut the ribbon on eight luxury beauty and fashion stores in two major Chinese airports.
Perfect Diary owner to raise US$100 million in IPO
Yatsen Holding, owner of popular Chinese cosmetics brands Perfect Diary, Little Ondine and Abby’s Choice, is set to raise some US$100 million via an IPO in the US, according to a report published by Nasdaq. The company is said to have filed with the SEC on Friday.
Palm oil price rises as demand grows in China and India
Crude palm oil (CPO) prices are expected to rise thanks to a rise in demand from India and China coupled with a drop in supply thanks to labor shortages caused by the pandemic, according to a report published by The Star.
Shiseido launches global sustainability initiative
Shiseido has announced the launch of a global sustainability initiative, named Sustainable Beauty Actions (SBAS).
Luxury goals? Perfect Diary announces Zhou Xun as first Global Spokesperson
Perfect Diary has announced Actress Zhou Xun as its first Global Spokesperson in a move that is said to be aimed at shifting the brand’s strategy towards the premium market, according to a report by Jing Daily.
Maybelline to ditch Chinese department stores in favor of online and flagships
L’Oréal’s Maybelline New York brand is planning to withdraw from department stores in China, according to a report published by Campaign.
What pandemic? LG Household & Health Care reports record-breaking Q3 revenue
LG Household & Health Care has posted record earnings for the third quarter of the current financial year. Its KRW2.7 trillion revenue is the highest the K-beauty giant has ever recorded in a Q3 period, according to a report published by The Korea Herald.
Galeries Lafayette to open third store in China
Galeries Lafayette has signed a lease for a third location in China, according to a report published by WWD. The new store will open its doors in 2022.
Magic Johnson’s Uncle Bud hemp and CBD brand enters China via Tmall partnership
The Uncle Bud hemp and CBD brand has entered the Chinese market via a partnership with Alibaba-owned Tmall.
Amorepacific announces strategic partnership with travel retailer China Duty Free Group
Amorepacific has announced a strategic partnership with travel retail company China Duty Free Group (CDFG) in a bid to ‘drive mutual growth’ for new stores.
China ushers in export controls in latest trade war move
China has ushered in a series of export controls that will allow the government to ban the export of certain raw materials and technologies to named companies, according to a report published by Nikkei Asia.
MAC names Blackpink’s Lisa Global Brand Ambassador
Lauder-owned MAC has named Lisa from Blackpink (Lalisa Manobal) as its new Global Brand Ambassador.
AmorePacific earnings won’t recover until post Q1 2021, says analyst
An analyst writing for Business Korea has predicted that AmorePacific stock will struggle until earnings resume growth in the first quarter of 2021.
Givaudan cuts the ribbon on Changzhou fragrance production facility
Givaudan has opened its newest state-of-the-art fragrance production facility in Changzhou, China. The fragrance and flavor supplier said that China remains a key growth market for innovative and consumer-preferred fragranced products.
Japanese brand POLA opens flagship store in Hong Kong
Japanese beauty brand POLA has opened its flagship store at Harbour City in Hong Kong.
Shiseido achieves 3D visualization of facial capillaries; technology to aid advancement in skincare offering
Shiseido has achieved successful 3D visualization of facial capillaries of the whole face using technology that will be used to help develop more specific skincare and offer ‘great leaps in vascular research.’
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