Spanish luxury beauty company Puig says it is focusing on livestreaming, pop-ups, and exclusive launches to engage with younger consumers in the travel retail channel.
Puig is the company behind beauty brands such as Christian Louboutin, Penhaligon’s, Byredo, and Paco Rabanne.
Kaatje Noens, global travel retail executive vice president at Puig, believes that one of the most significant trends in travel retail is that travellers are getting younger and companies have had to adapt to the new behaviours of this younger generation of travellers.
Chinese cosmetics company Yatsen Holdings expects revenue will take longer to bounce back despite improved market conditions in the domestic beauty market.
The company reported that its total net revenue for the first quarter (Q1) declined by 41% year-over-year to RMB765.4m (USD111.5m).
This was driven by continued sluggish performance of colour cosmetics, which declined 29.1% year on year. The decline was partially offset by a 34.2% year over year increase in skin care sales.
Decorté’s new customer acquisition has increased by 20% to 30% in the first quarter thanks in no small part to the signing of a Japanese baseball player as its global brand ambassador.
Shohei Ohtani, a Japanese professional baseball star that plays for the Los Angeles Angels in Major League Baseball, was announced as Kosé global brand ambassador in March.
The firm estimated that the number of new customers for Decorté products increased by 20% to 30%, which has led to an 8.6% increase in sales, despite negative sales in China and Japan.
Japanese consumer goods company Kao Corporation has outlined its plans to drive profit growth in its beauty business in the next quarter, including a focus on prestige beauty and makeup.
The company has expressed cautious optimism, noting the recovery of makeup and inbound demand in its home market.
The firm said the lipstick market was now back up to 60% of 2019 levels, while the makeup base category was now back to around 80%.
American beauty major Coty is optimistic about Lancaster’s future in China as the launch of its new flagship and its ultra-premium Ligne Princiere line takes off with aplomb.
March was a busy month for Coty as it kicked off the launch of Lancaster’s Ligne Princiere.
Coty also unveiled Lancaster’s first flagship store in Hangzhou, China, in partnership with one of China’s leading department store retailer INTIME in the same month.
CEO Sue Y. Nabi said the firm would continue to open new doors in China’s “most luxurious locations”, while also launching online on platforms such as Tmall and Douyin.