China freezes Tin’Secret’s assets over pyramid selling allegations
Chinese regulators have frozen assets belonging to Shanghai Dowell, owner of cosmetics brand Tin’Secret, valued at approximately CNY600 million, according to a report published by Nikkei Asia.
2021 Resilience: Finance
If ever there was a test designed to sort the wheat from the chaff, it was 2020. Some emerged from the pandemic’s salient year bigger and better (looking at you Amazon, LVMH), others, not so much. Indeed, 2021’s results provided an instant litmus test into the health of a given company after 2020 had done its worst. From Q1, we could see those who were bouncing back bigger and better and, in contrast, those who were still struggling.
2021 Resistance: Environment
While most companies pay at least lip service to sustainability, even as planet-friendly has become essential for CPG success, there are those continuing to resist – and that resistance comes in one of two forms: either everything goes suspiciously quiet or, worse, companies shout loudly but their claims don’t stand up to scrutiny.
2021 Resistance: Technology
Pre-pandemic, North America’s digital channel was under developed, especially compared to China and, in some cases, not much has changed. While some have adopted a more sophisticated approach to digital engagement, others have continued to dictate, not engage. This dogged determination to market at, not converse with, their audience won’t wash for long and shoppers have started to scroll on by.
2021 Resistance: Retail
As the COVID-19 pandemic categorically failed to be ‘all over by Christmas’ and rolled on and on into 2021, one thing became clear; those retailers who had hoped to ‘ride it out’ had some catching up to do….
2021 Resistance: Manufacturing
The pandemic killed the global supply chain as we knew it and several suppliers, manufacturers and retailers have struggled to come to terms with that in 2021. The result? Empty shelves, rising inflation and a stark choice between passing on the rising costs to consumers or taking a hit on margin to come.
2021 Resilience: Environment
Throughout 2020, there was much talk of ‘building back better’ and we expected our post-pandemic world to be a green, eco-friendly utopia. However, as 2021 bought renewed lockdowns and restrictions, has our ‘happy ever after’ transpired? Certainly, sustainable beauty is evolving, new targets have been set and we are asking more. We want products with soul and that comes hand in hand with planet-friendly.
2021 Resistance: Finance
Cast your mind back to early 2020. Did you think COVID-19 would be ‘all over by Christmas’ or were you more inclined to dig in for the long term? Two years on, with several countries grappling with a fourth wave and Omicron surging, the doomsayers aren’t looking so ridiculous and those who decided to ‘wait it out’ rather than pivot are struggling still as restrictions persist far longer than anyone predicted and the end of the pandemic proves elusive.
2021 Resilience: Retail
Retailers faced some almost insurmountable challenges in 2021 – from renewed lockdowns shuttering bricks and mortar locations to the ongoing supply chain crisis and labor shortages, it’s a wonder any survived.
2021 Resilience: Manufacturing
Supply chain disruption prompted by pandemic shutdowns has persisted throughout 2021 and only those able to think on their feet and come up with workarounds can thrive in this environment. Investment in local sourcing, safeguarding raw materials supply, local manufacturing hubs, a flexible approach to logistics and the ability to generate power on site have all been crucial for success in the past 12 months.
Good Glamm Group expands further into influencer marketing with MissMalini Entertainment acquisition
Good Glamm Group is expanding its content-to-commerce strategy with the acquisition of MissMalini Entertainment, an Indian media and influencer talent management network.
Tata Group to re-enter Indian cosmetics market
The Tata Group is set to re-enter the Indian cosmetics market following its exit 23 years ago, according to a report by Forbes.
Mandom Corp recalls scalp care line over egg allergy concerns
J-beauty company, Mandom Corp has recalled four scalp care products after receiving reports of adverse reactions in those allergic to eggs, according to a report published by Mainichi.
L Catterton Asia leads Series B investment round in Nebula Brands
Nebula Brands has announced that it has closed a US$50 million Series B funding round led by L Catterton Asia.
Shiseido Global Innovation Center to work with Korean start-ups
Shiseido has announced that its open innovation program, led by Shiseido Research Institute, fibona, has decided to start collaborating with overseas start-up companies. The Co-creation program has selected Korea’s LABnPEOPLE Co as its first overseas partner.
IMCD China acquires Syntec to drive growth in the personal care market
IMCD China has announced the acquisition of 100 percent of the shares of Shanghai Syntec Additive and Shanghai Weike Additive, jointly “Syntec’.
Chanel Korea workers threaten strike action over unpaid wages and sexual harassment in the workplace
hanel Korea workers have threatened strike action over unpaid wages and the company’s lagging efforts to prevent sexual harassment in the workplace, according to a report by the Korea Herald.
Life science ingredients distributor Barentz acquires majority stake in India’s Gangwal Chemicals
Life science ingredients distributor has announced an agreement to acquire a majority stake in the distribution functions of India-based Gangwal Chemicals.
Shiseido announces candidates for Directors and Audit & Supervisory Board Members
Shiseido has announced the candidates for the Directors and Audit & Supervisory Board Members to replace exiting External Director Yoshiaki Fujimori.
Mecca prevails against Hourglass in exclusivity battle
Australia’s Supreme Court has found in favor of Mecca in a case it bought against Hourglass Cosmetics over a breached exclusivity agreement, according to a report published by News.com.
Pola Orbis announces leadership shake up
Pola Orbis has announced a series of personnel and organizational changes as it reshuffles its leadership team. Naotaka Hashi, previously General Manager of the Corporate Communications Division is set to take on a new, additional role of Corporate Officer in Charge of PR, IR, CSR and Sustainability.
Hindustan Unilever eliminates coal usage across operations
Hindustan Unilever has announced that it has met its goal to eliminate coal usage across its operations, replacing the fossil fuel with greener alternatives such as biomass suppliers and biodiesel.
Procter & Gamble and AS Watson co-develop J-beauty brand
Procter & Gamble and AS Watson Group have announced the launch of a co-created Japan skin care brand. Aio, as the new line has been dubbed, will be available in Watsons stores and online throughout the Greater China markets.
Booksy expands EMEA foothold with acquisition of salon management and booking software, Kiute
Beauty and wellness appointment booking app Booksy is set to expand its presence in the EMEA region via the acquisition of French salon management and booking software, Kiute.
Indian retailer Nykaa aims to triple its store count as it eyes retail expansion
Indian cosmetics and fashion retailer Nykaa is eyeing a huge retail expansion, with Founder and Chief Executive Falguni Nayar stating it will triple its bricks and mortar stores to 300, according to a report by Reuters.
Sodalis acquires Lornamead and UK brands from Meiyume
Italian health and beauty provider Sodalis has acquired the German-based Lornamead company and brands Brisk, Rapid White and Triple Dry brands in the UK from Meiyume, a member of the Fung Group.
Shiseido restaurant L’Osier awarded three stars in Michelin Guide Tokyo 2022
Shiseido’s restaurant L’Osier has been awarded three stars in the Michelin Guide Tokyo 2022 for the fourth consecutive year.
LG Group rumored to be mulling new Head for Household and Health Care division
LG Group is poised to announce one of its periodic management reshuffles, according to a report published by the Korea Times.
Kao kicks off tests for recycling plastic film
Kao, together with Lion, Welcia Yakkyoku and Hamakyorex, has started field testing for a new process designed to recycle used household product refill film packaging.
Kao launches into space with products selected for use on ISS
Kao has announced that, following a proposal submitted to the Japan Aerospace Exploration Agency, its Space Laundry Sheet and 3D Space Shampoo Sheet have been selected for adoption and will be used onboard the International Space Station (ISS) from 2022.
Head & Shoulders signs on to another season at FC Barcelona
P&G-owned Head & Shoulders and FC Barcelona have renewed their partnership agreement for another season. The hair care brand will remain a Partner of the Club with exclusivity as the Official Shampoo of FC Barcelona in Indonesia until June 30, 2022.
Estée Lauder Companies’ La Mer appoints SK-II exec as Senior Vice President
Estée Lauder Companies has appointed a SK-II exec YoeGin Chang as Senior Vice President of its La Mer brand, according to a report by Marketing Interactive.
AmorePacific teams up with BTS on Laneige Lip Sleeping Mask inspired by group’s ‘Permission to Dance’ tour
morepacific has teamed up with Korean boyband BTS on a new limited edition Laneige Lip Sleeping Mask, inspired by the group’s Permission to Dance’ tour.
Shiseido delivers We Are One Ocean petition to UN Convention of Biodiversity
Together with the World Surf League, Shiseido has delivered the We Are One Ocean petition to the UN Convention on Biodiversity.
Yatsen Q3 2021: Revenues rise 6 percent; US$100 million share repurchase program announced
Yatsen Holding has announced its financial results for the third quarter of fiscal 2021. The Chinese beauty company reported total net revenues of RMB1.34 billion for the three months to September 30, 2021, a rise of 6 percent on the prior-year period.
L’Oréal China apologises over Singles Day blunder
L’Oréal China has apologised to shoppers caught out by a Singles Day discount that was advertised as the best deal available but in fact was more expensive than a reduction being offered elsewhere, according to a report published by the South China Morning Post.
LG Household & Health Care wins trademark battle with Two Faced
LG Household & Healthcare has won a trademark battle with Estée Lauder Companies-owned Two Faced over the ‘Born This Way’ slogan.
Louis Vuitton said to be eyeing strategy shift; considering travel retail presence in China
Louis Vuitton is said to be looking to open its first duty free store in the luxury island hub of Hainan, according to a report by Reuters.
AmorePacific named CES 2022 Innovation Award Honoree
AmorePacific has been named CES Innovation Award Honoree for the third consecutive year thanks to its bespoke beauty innovations, the Bathbot and Myskin Recovery Platform.
Supply chain crisis squeezes Singles Day success
Chinese shopping festival, Singles Day has raked in record sales once again but the global power and supply chain crises have dampened promotional activity, according to a report published by The Wall Street Journal.
Shiseido reports Q3 net sales growth of 13 percent; driven by Americas, EMEA and travel retail
Shiseido has reported a Q3 net sales rise of 13 percent, with global growth driven by Americas, EMEA and travel retail offsetting challenges in Japan and China.
Kao Q3: sales hit by repeated waves of COVID-19
Kao has reported its results for the nine months to September 30, 2021. The Japanese personal care manufacturer saw net sales inch up a modest 1.6 percent to ¥1.021 billion versus the prior-year period.
Good Glamm Group raises US$150 million in Series D funding round
MyGlamm parent company Good Glamm Group has raised US$150 million in a Series D funding round, including both primary and secondary capital.
Shiseido launches into wellness with supplement brand Inryu
Shiseido has announced the launch of a new ingestible beauty brand, Inryu. The brand is said to improve the overall health of the skin from the inside and was developed by the J-beauty giant’s China Business Innovation & Investment Office in Shanghai.
K-pop’s BTS branches out into NFTs
K-pop sensation, BTS’s music label, Hybe has announced that it is to partner with Dunamu in order to issue digital collectibles secured by blockchain, according to a report published by the Financial Times.
Aekyung names CEO of newly launched Chemical business
Aekyung Group has announced the official launch of its new Chemical branch and named Pyo Kyoung-won as the first CEO, according to a report published by The Korea Herald.
LG Household & Health Care Q3 sales fall 3 percent; net profits rise 3 percent
LG Household & Health Care has seen net profit rise 3.4 percent in Q3, to 240 billion won ($205.8 million), while sales fell 2.9 percent in the same period, to 2.01 trillion won.
Alibaba’s Tmall Global announces winners of 2021 Go Global 11.11 Pitch Fest
Alibaba Group’s Tmall Global has announced the winners of its 2021 “Go Global 11.11 Pitch Fest,” which has been designed to help small and emerging U.S. brands expand their businesses globally.
Amorepacific Q3: sales inch up but net profit surges
AmorePacific Corp has reported its results for the third quarter of the current financial year, according to a report published by The Korea Herald. The K-beauty behemoth saw net profit hit KRW38.5 billion in the three months to September 30, 2021, a considerable improvement on the KRW7 billion reported the same time last year.
China publishes regulations on cosmetics for kids
The Chinese National Medical Products Administration has published a new regulatory framework for cosmetics, oral and personal care products targeted at children, according to a report published by Market Screener. The new legislation will enter into force on January 1, 2022.
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