South Korean multinational LG Household & Health Care will be emphasising on its business in China and North America in a bid to reinforce its presence on the global stage, says its new president and CEO.
The firm’s new president and CEO Lee Jung-ae noted that reinforcing its international position was one of its key initiatives for the new year.
Lee highlighted aspirations for the company to “leap forward” as a global luxury beauty company. “The expansion of overseas business must be continued and strengthened.”
In particular, the company has two major targets: China and North America.
Japanese beauty brand Orbis will introduce its first skin care range dedicated to people in their 60s in February and has set a sales target of JPY500m (USD3.78m) for its first year.
The upcoming Orbis Amber range is the brand’s first skin care line-up that is dedicated to consumers in their 60s. This sector is relatively untapped but important especially in hyper-aged societies like Japan.
With this new range, Pola Orbis is aiming to achieve sales of JPY500m (USD3.78m) in the first year.
K-beauty brand Tolymoly’s efforts to strengthen its digital capabilities are yielding good results as sales from its online business, including its own e-commerce platform see growth.
Sales on its e-commerce platform TonyStreet recorded 52% growth compared to the previous year.
Furthermore, traffic increased by 75%, with the share of young consumers aged 18 to 34 increasing by about 11.5%. New membership also increased by 25%.
Its sales on other platforms also recorded improvement. The company highlighted a 401% sales growth on the Kakao Talk gift-giving channel, which also allowed it to open up to new consumers.
K-beauty major Amorepacific is set to introduce a bioflavonoid extracted from camellia seeds with the launch of a new Laneige anti-ageing serum that targets three key skin ageing concerns.
The beauty conglomerate teased the launch at its latest academic symposium, Ageing-Chain Targeting Technology: New Paradigm of Anti-ageing, held in December 2022. It also presented its latest research on the new anti-ageing ingredient.
Developed in-house by the Amorepacific R&D Centre, RE.D Flavonoid is extracted from camellia seeds to inhibit Phosphoinositide Dependent Protein Kinase 1 (PDK1), a key factor in the “reverse ageing” process.
International beauty majors L’Oréal and Johnson & Johnson have launched smart beauty innovations in lipstick, brow care and skin supplements at this year’s CES tech tradeshow.
The first L’Oréal prototype device was a handheld makeup applicator ‘Hapta’, designed for users with limited hand and arm mobility and set to pilot under its Lancôme brand as a lipstick applicator at first.
The second prototype device from L’Oréal was a smart eyebrow makeup applicator Brow Magic, designed to give users bespoke brows for their face shape in seconds and due to launch in 2023 under its mass makeup L’Oréal brand.