THE WHAT? L’Oréal-owned Shu Uemura has withdrawn from Korea after 16 years, the company has announced.
THE DETAILS The make-up brand is planning to have exited the market by the end of September, with Shu Uemura products only available at Duty Free following the departure.
THE WHY? Local Korean media outlets have cited the boycott of Japanese products by Koreans as the catalyst for the brand departure, with Shu Uemura department store sales falling.
However, the brand itself has stated it is part of a plan to readjust its business portfolio.
The company said, “L’Oréal Korea decided to close Shu Uemura by September 2021, gradually closing online and offline stores.
“The decision is part of a plan to maximize our brand portfolio. As a global company, [we] periodically review our brand portfolio based on demand from the local market.”