AkzoNobel shifts focus away from China to new growth markets in Southeast Asia
Dutch specialty chemicals supplier AkzoNobel is targeting growth in Southeast Asia, specifically Vietnam and Indonesia, as growth slows in China, according to a report published in Indonesia Investments. CEO Tom Büchner is said to be planning to reduce investment...
Weak rural sales hits Hindustan Unilever Q1 profits despite higher ad spend
Hindustan Unilever has reported a net profit of Rs 1,059.14 crore in the three months ended 30 June, a small 0.22% growth from the same period last year. The company missed analyst earnings expectations as rural sales slowed, while the profit was slightly subdued due...
Philippines’ personal care manufacturer Splash Corp doubles income to PHP93 million
Philippines-based personal care manufacturer Splash Corp has announced a triple-digit increase in net income for the first half of 2015. Net income soared 133 percent when compared to the first semester of 2014 to reach PHP93 million. The company saw revenues from its...
Can K-beauty save South Korea’s export market? Government gives boost to consumer products as shipments forecast to fall 1.5 percent in 2015
The South Korean government has put together a support package for exporters in a bid to help reverse the fortunes of the country’s traders. Shipments are predicted to drop 1.5 percent in 2015 thanks to stiff competition from Chinese manufacturers and a weak Yen,...
Coty to challenge Henkel as it enters fast-growing Indian salon market with P&G professional hair care brands
Coty’s acquisition of P&G’s beauty portfolio will see the beauty giant enter the fast-growing professional hair care market in India for the first time. According to a Livemint report, the Indian professional hair care market is valued at an estimated Rs 700 to...
Amorepacific CEO overtakes Sumsung Group Chairman to become South Korea’s richest man
Chief executive officer of Amorepacific, Suh Kyung-bae, has become South Korea’s richest man in stock value terms, overtaking Samsung Group Chairman Lee Kunhee, who is currently valued as the richest man in Asia. Market data compiled by corporate tracker Chaebul has...
2015 will ‘be challenging’ says Hong Kong perfumery chain SaSa International as it posts 10.3 percent loss in profits for 2014
Hong Kong-based retailer SaSa International has announced a decrease in profits to the tune of 10.3 percent for the year-end March 31, 2015 to HK$838.8 million, compared to HK$935.2 million for the previous year. It wasn’t all bad news for the perfumery chain,...
Jewelry brand Tomei expands nascent skin care business; plans to launch new brands and 20 retail outlets in next three years
The success of Malaysian jewelry brand Tomei’s recently launched skin care operation, Flawless Skin Care, has prompted the company to push for rapid expansion. According to a report in The Star, the company is planning to launch 20 new outlets in the next three years...
Shiseido Professional teams up with distributor Aura Beauté Group; establishes joint venture in Indonesia
In a bid to accelerate the growth of its professional business, Shiseido has established a joint venture in Indonesia with Aura Beauté Group, the current distributor for the Shiseido Professional brand in the country. The new company will be named PT Shiseido...
Connell Brothers targets growth in India; acquires cosmetics ingredients distribution business Mascot Universal
Specialty chemicals marketer and distributor Connell Brothers (CBC), a division of Wilbur-Ellis, has acquired Mumbai-based personal and health care ingredients distribution business Mascot Universal. The terms of the deal were not disclosed. India is one of CBC’s...
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