Financial focus: POLA, O’right and more feature in our latest beauty business and finance update

By Amanda Lim

- Last updated on GMT

Round-up of financial results, M&As and funding drives in the cosmetics industry. [Getty Images]
Round-up of financial results, M&As and funding drives in the cosmetics industry. [Getty Images]

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In this round-up of financial results, M&As and funding drives in the cosmetics industry, we highlight the POLA’s success in China, O’right Japan expansion and more.

1 – Global potential: POLA expecting overseas sales to surpass $270m by 2023 on the back of China demand

Japanese skincare brand POLA has been projected to achieve more than $270m in overseas sales in the next couple of years thanks to the strong demand from China’s luxury beauty market​.

POLA is the ‘ultra-prestige’ skin care brand owned by Japanese cosmetics manufacture Pola Orbis Holdings, which is also the company behind J-beauty brands ORBIS and THREE.

The brand has been expanding across Asia in recent years and is now present in seven markets. Over 2017 to 2020, the brand’s sales have grown four times over.

In the latest report to its shareholders, the company expressed optimism for the brand’s position and said it would now focus on achieving profitable growth of its overseas business.

2 – Green partnership: Taiwan’s O’right inks deal with B-ex to accelerate its expansion in Japan

Taiwanese green beauty company O’right has formed a capital and business alliance with Japanese hair care manufacturer B-ex to embark on a full-scale expansion in Japan.

The deal with the Japanese personal care manufacturer specialising in hair care comes just over a year after O’right made its debut in Japan.

B-ex was founded in 1975 and owns a range of hair care brands for both the mass market and professional sectors, including MM, Throw, Hahalift and Deep Layer.

Through this partnership, B-ex has acquired shares and become a major shareholder in the Taiwanese beauty firm.

3 – Overseas debut: Japan’s Athletia landing in UK this October to start European expansion push

Skin care and lifestyle brand Athletia is set to make its international debut this October in the UK, where it hopes to orchestrate future European expansion plans within the next three years​.

The brand was launched in February 2020 by E’quipe Ltd., a subsidiary of Kao Corporation that also owns cult J-beauty classics RMK and SUQQU.

Athletia was created to tap into the rising influence of wellness and mindfulness among consumers. Since its launch, it has positioned itself as a leader in Japan’s clean beauty movement.

For instance, the brand cultivates its raw materials like ashitaba and perilla leaves in a circular agriculture system where it claims to control all processes from soil preparation to extraction.

4 – ‘No more unsuitable tools’: MANSCAPED seeking wider Asia expansion for men’s ‘below the belt’ products

MANSCAPED is aiming to tap into what it claims is underserved needs of the men’s personal grooming market in Asia​ but says it will first take time to understand the nuances of the different markets from its Singaporean foothold.

MANSCAPED is a US-based brand that specialises in ‘below-the-belt’ grooming for men. It offers a range of personal care products like shaving gels and deodorants as well as grooming tools.

“When MANSCAPED launched in 2016, the male grooming market looked completely different - especially the groin grooming segment where we got our start… That area of the male body had been neglected, forcing men to use unsuitable tools, resulting in cuts, nicks, and snags. We took on this white space and pioneered a new category,”​ Stephanie Hinze, senior director of international, MANSCAPED.

Since its launch, the direct-to-consumer brand has diversified its product portfolio from grooming and personal care into lifestyle products such as boxers and t-shirts. It is now available in over 30 countries including, the US, Canada, Australia, New Zealand, and South Africa.

5 – ‘Our targets are clear’: Indian beauty brand Earth Rhythm confident that it can surpass $13m revenue goal

India-based beauty and personal care brand Earth Rhythm is on track to surpass $13m in revenue​ and is gearing up for its series A fundraiser by the end of this year.

The New Delhi-based firm is confident the brand still has room for growth. The company recently raised U$1.2m in seed funding from Anicut Angel Fund, the equity arm of Anicut Capital.

It plans to use the funding to increase its manpower and invest in digital marketing.

“The company is already profitable, but I am pouring that money into the upkeep of our manufacturing facility. Now with this seed funding we can add on to our team and allocate more towards digital marketing – especially since the cost of digital marketing has gone up because of the pandemic,”​ said founder and CEO Harini Sivakumar.

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