Financial focus: Most-read stories on business and financial news in the beauty industry

By Amanda Lim contact

- Last updated on GMT

A round-up of financial results and business trends in the cosmetics industry. [Getty Images]
A round-up of financial results and business trends in the cosmetics industry. [Getty Images]

Related tags: Business, Apac, Cosmetics

In this round-up of financial results and business trends in the cosmetics industry, we highlight Cosmax’s 2022 ambitions, the opportunity for halal oral care exports and more.

1 – Cosmax tapping into personalised beauty and pet care to achieve U$2.5bn in 2022

South Korean cosmetics giant Cosmax Inc is tapping into opportunities in personalised cosmetics and pet grooming​ to achieve its target of U$2.5bn in sales in 2022.

The ODM cosmetics major is set to celebrate its 30th anniversary this year and has lined up plans to expand its cosmetics and food businesses.

In beauty and personal care, Cosmax is eyeing opportunities in customised cosmetics and is set to unveil a smart factory that will be equipped to fulfil personalised beauty requests.

2 – Shiseido, Kao and Lion show solidarity with Ukraine amid intensifying conflict with Russia

A trio of Japanese cosmetics companies – Shiseido, Kao and Lion – have stepped up to aid relief efforts​ in Ukraine amid Russia’s ongoing attacks on the country.

They have provided relief in the form of monetary relief and donations of essential items to the United Nations High Commissioner for Refugees (UNHCR).

Shiseido and Kao have also halted commercial operations in the company. However, Kao said it would continue to sell baby diapers and women’s sanitary products. Shiseido as well have guaranteed employment for its Russian employees.

3 – Pola Orbis aims to achieve at least $2.4bn in beauty sales for 100th anniversary

Japanese personal care conglomerate Pola Orbis Holdings has set a target for its cosmetics business​ to achieve at least JPY280bn (U$2.4bn) in sales by 2029, the year it celebrates its centennial.

To reach this goal, Pola Orbis is aiming to accelerate its growth in China, a key overseas market for the company with four of its brands: POLA, Orbis, THREE and Jurlique.

It has mapped out an expansion in all retail channels, including department stores, standalone stores, travel retail, and e-commerce.

4 – Halal oral care among top cosmetic export opportunities for Indonesia

Halal oral care has been touted as one of the top 10 most attractive export opportunities​ for Indonesia as it works towards its goal of becoming a top halal exporter, says a new report.

Indonesia is only the ninth-largest export of halal products to the Organisation of Islamic Cooperation Countries (OIC), exporting $8.6bn in halal products. This accounts for 3% of halal exports.

To boost its exports, the report underscored categories with high export potential, including a $20m opportunity in oral care.

5 – Korea’s cosmetics industry poised for growth in Q2 – trade report

The Korean cosmetic industry is predicted to grow in the second quarter this year​ despite the economic uncertainty, according to a new report by the Korean Chamber of Commerce and Industry (KCCI).

According to this report, cosmetics exports scored a BSI of 123, making it the sector that was viewed as the most favourably, ahead of others like electronics, pharmaceuticals, and home appliances.

According to KCCI, the biggest concern for companies were raw material prices. 82.5% of the companies cited ‘increase in production costs due to rising raw material prices' as a major concern.

Related topics: Business & Financial, China

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