Yatsen announces a Q4 net revenue fall of 34.2 percent; experienced a ‘difficult year’
Yatsen has announced net revenues for the fourth quarter of 2022 decreasing by 34.2 percent to RMB1.01 billion (US$145.8 million) from RMB1.53 billion YOY.
Chinese stock exchanges expand cross-border trading programs
The Shanghai, Shenzen and Hong Kong stock exchanges have upped their cross-border trading programs by more than 40 percent, or some 1,000 stocks, and greenlit southbound trading of eligible shares of international companies with primary listings in Hong Kong, according to a report published by Nikkei Asia.
Lush joins UK brands travelling to India on trade mission
Lush is among a number of UK beauty and fashion brands joining India’s Fashion Forum 2023. The first-of-its-kind delegation is designed to capitalise on Indian demand for high-end beauty and fashion products, according to a statement issued by the UK Government.
Japanese investment firm Mitsui & Co invests in Kao’s Brazilian subsidiary
Japanese investment firm Mitsui & Co is set to invest in Kao’s Brazilian subsidiary, with a view to expand the skincare business in the country.
Shiseido plans to double size of Spanish HQ with Madrid move
Shiseido has announced that it is set to double the size of its Spanish HQ as it moves to the Cerro de los Gamos business park, Madrid, according to a report published by The Fashion Network.
Itochu Corporation secures rights to sell TonyMoly in Japan
Itochu Corporation has secured exclusive rights to distribute TonyMoly in Japan, according to a report published by Inside Retail Asia.
Shiseido launches NFT-based community program
Shiseido has announced the launch of what it is claiming to be the first ever NFT-based community program. #AliveWithBeauty, as the initiative has been named, has been co-created with AI and five female pioneers.
Elf withdraws from China
Elf Beauty is planning to exit the Chinese market at the end of March, closing down its Tmall and Douyin stores, according to a report published by Yahoo! News, quoting WWD.
Nykaa parent shares tumble as Q3 profit plummets
Nykaa parent company FSN E-Commerce Ventures Ltd shares have fallen 5.4 percent due to its Q3 consolidated net profit plummeting by more than 70 percent, according to Reuters.
LG H&H looks to North America for growth
LG Household & Health Care is pinning its hopes for future growth on the North American market, according to a report published by Nikkei Asia. As the K-beauty behemoth’s new leadership team settles in, the manufacturer of O Hui is said to be pivoting away from China.
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