THE WHAT? 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.
THE DETAILS? The beauty giant announced via a Facebook post that it would be closing all shops by the end of November, and would now only sell through e-marketplaces and the NYX Instagram account.
The removal from the Thai market ends five years in the region, with the brand having entered the market in 2016.
THE WHY? Speaking to the Bangkok Post, an anonymous source said, “The decision to withdraw the brand was made by looking at the whole business. We reviewed our medium- to long-term brand portfolio.”
In May this year, L’Oréal Managing Director, Ines Caldeira, stated that mask wearing had had an effect on make-up sales. She said, “Thai consumers are more mindful and choose brands or products that they trust.”