Financial focus: Beauty business updates from Kao, Kose, The Balm and more

By Amanda Lim

- Last updated on GMT

Business and financial updates in the APAC cosmetics industry. [Getty Images]
Business and financial updates in the APAC cosmetics industry. [Getty Images]

Related tags Business Finance Cosmetics Personal care products Personal care

In this round-up of the business and financial updates in the APAC cosmetics industry, we highlight Kao’s price hikes, The Balm’s APAC push, Kosé hesitance on China and more.

Price hikes ahead: Kao’s consumer product price increases likely to continue in 2023 ‘and beyond’

Japanese conglomerate Kao Corporation will further extend price increases into skin and hair care in the fourth quarter of its current fiscal year.

According to the firm, the negative impact of raw material price hikes on the health and beauty care category was JPY3bn (USD20.4m).

The company is now setting plans in place to expand it across its consumer product categories, including skin care, hair care, and other categories in Q4 and will likely continue to do so next year.

‘100% control’: Asia expansion aided by own manufacturing capabilities – US brand The Balm

Colour cosmetics brand The Balm's own manufacturing capabilities is aiding its push in Asia Pacific, as the make-up market continues to recover.

Executive vice president Jordana Shipman views APAC as a growth area for the brand.

The brand is available in various Asian markets including Singapore and Hong Kong where brand awareness is well-established. However, there is still room for expansion.

Shipman told us that the company is interested in exploring all markets. “Women like make-up no matter where they live.”

Hitting restart: Note Cosmetique eyes China, India and Indonesia as part of APAC expansion

Turkey-based make-up brand Note Cosmetique is refreshing its attempt at expand in Asia Pacific and has its eyes on China, India, and Indonesia.

The brand was exhibiting at the 2022 Singapore edition of Cosmoprof Asia, to seek out expansion opportunities in APAC.

“For the next years, it will be Asia that’s growing. That's why we would like to strengthen the brand position in the Asian market,”​ said Gülfer Bal, Note Cosmetique marketing and new product development director.

Bal told CosmeticsDesign-Asia​ that Note’s strength is its wide range of products and colours, making it well-primed to succeed in the diverse Asian market.

‘A cautious outlook’: Kosé Crop held back expansion plans in China amidst zero-COVID disruptions

Kosé Corporation says it is waiting for China’s economy to recover before it moves forward with plans to expand Decorté’s retail footprint in the country.

With China still staunchly sticking to its zero-COVID policies, the company has opted to adopt a wait-and-see approach.

For now, the company will focus on raising consumer awareness of Decorté in China and shifting focus to high-end products.

Firm behind Nykaa targets ‘underpenetrated’ GCC beauty market

Gulf markets offer a huge opportunity for online beauty sales due to rising demand from young consumers, claims the firm behind Nykaa.

In October this year, the firm announced a strategic alliance between its subsidiary FSN International and Middle Eastern company Apparel Group.

The plan was to tap into the Gulf markets to undertake an omnichannel, multi branded beauty retail business.

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