NYSE issues non-compliance letter to Yatsen
Yatsen has announced that it has received a letter from the New York Stock Exchange dated April 11, 2022, notifying the Chinese beauty brand that it is below compliance criteria with regards to the performance of its trading price.
JD.com Founder steps down from CEO role
The Founder of Chinese e-commerce behemoth JD.com, Richard Liu, has resigned from his role as Chief Executive Officer, according to a report published by the Financial Times.
K-beauty brands take further hit as Shanghai lockdown extended
K-beauty brands such as AmorePacific are likely to feel the effects of China’s renewed lockdowns keenly, according to a report published by The Korea Times.
Shopee pulls out of India
Singaporean e-commerce platform, Shopee has backpeddled on its Indian launch mere months after its arrival, announcing that it is quitting the market, according to a report published by Entracker.
Japan bans export of luxury goods to Russia
Japan has announced that it will block the export of luxury goods to Russia in response to the invasion of Ukraine, according to a report published by Reuters.
Russian shoppers look East after Western brand exodus
Brands from China, India, Iran and Turkey could soon enjoy a new found popularity among Russian consumers, according to a report published by Reuters, after a number of Western brands withdrew from the market.
Emami snaps up Reckitt’s Dermicool brand for Rs432 crore
Emami has announced the acquisition of Dermicool from Reckitt Benckiser for Rs432 crore, according to a report published by the Business Standard.
L’Occitane targets Gen Z with acquisition of Grown Alchemist
L’Occitane has announced that it has acquired majority control of Australian cosmeceutical brand, Grown Alchemist.
Shu Uemura opens flagship store on JD.com
L’Oréal-owned Shu Uemura has cut the virtual ribbon on a flagship store on JD.com. The high-end beauty brand will sell its famous Cleansing Oil, foundation and lipsticks among other products.
Shiseido to invest in Perfect Corp
Shiseido has announced that it has agreed to buy a minority stake in Perfect Corp. The transaction is expected to close in the third quarter of the year and follows Perfect’s announcement that it will be publicly listed on Nasdaq.
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