1 - Singapore’s Luxasia poised for ambitious expansion in Vietnam
Luxasia, a Singapore-based luxury beauty and lifestyle omni-channel distributor, has identified Vietnam as a strategic growth market, brimming with potential.
Vietnam is a swiftly growing economy with a strong population of nearly 100 million. According to Luxasia’s Karen Ong, there’s business to be done there and the sky is the limit.
While she is Luxasia’s Singapore Country Manager, Ong has recently spent some time in Vietnam to ascertain the challenges and access the company’s position in the market as the acting Country Manager
2 - China’s compulsory animal-testing for cosmetics may take more than five years to stop
Although China has made significant strides in moving away from animal-testing, its challenges suggest it may take more than five years for the country to completely stop compulsory animal-testing for cosmetics, says one analyst.
Hedy He, regulatory analyst and editor of ChemLinked told Cosmetics Design Asia: “In the short term a total ban on animal testing is unlikely given the lack of testing infrastructure and the technical capacity shortcomings of the industry.”
3 - South Korean beauty brand Skinfood files for court receivership after months of speculation
South Korean beauty brand Skinfood has filed for court receivership, claiming poor sales and accumulated debt had taken their toll.
“Although the company is currently at stake in securing liquidity due to excessive debt, considering Skinfood’s unique branding and product competitiveness we believe the court restructuring and normalisation of the business will benefit everyone, including the creditors,” the company said in a statement.
As of October 15, Skinfood’s official Korean website was inaccessible.
4 - Genderless fragrances and the freedom it represents
Ambiguous and fluid, gender-neutral fragrances are increasingly satisfying consumers’ ever-growing need to define and express their individuality.
Over the past few years, the consumer’s perception of themselves have shifted. In Mintel’s 2018 report on beauty and personal care trends, it said that consumers no longer want to be defined by age, body type, sexuality, or gender.
“We are certainly living in a time of great desire for individual expression,” said Terry Jacobson, founder and CEO of Oo La Lab, a craft fragrance lab in Singapore. “There has been a modernisation of our collective approach to gender, certainly the boundaries have become more fluid but this goes both ways.”
5 - Outsmarting algorithms: Why engagement is the key to a good social media strategy for cosmetics brands
With algorithms limiting the visibility of sales posts, creating an engaged community on social media has become the key to a successful digital marketing strategy for brands.
In today’s landscape, it is impossible to leave social media out of a brand’s marketing strategy.
According to Carl Heaton, founder of Web Courses Bangkok, Facebook alone is able to increase your business referral rate by over 60%.
“In a way, social media has taken over the concept of word-of-mouth,” shared Heaton. “Understanding how social media can transform communications with your customers and how they interact with your brand is key to getting the maximum benefits.”