Shiseido’s 2024 results reveal troubles for Drunk Elephant
Drunk Elephant is failing to keep up with intense competition in the skin care market, leading to sales decline of 25% in 2024, according to Shiseido’s FY2024 results.
The Japanese beauty giant attributed its poor performance in the Americas in the fourth quarter to the “delayed recovery” of Drunk Elephant.
Kentaro Fujiwara, Shiseido Company president and chief executive elaborated on Drunk Elephant’s struggles by highlighting the changes in the market, particularly in the Americas region.
Why beauty majors Maybelline and Wella are exiting South Korea
Global beauty leaders Maybelline New York and Wella have announced their departure from the South Korean market, signalling a shift in strategies amid increasing competition and evolving consumer demands.
News has been circulating on Korean local media that German hair care brand Wella and L’Oreal Group’s Maybelline New York will withdraw from the market.
On 3 February, Korea outlet Biz.Hankook revealed that Maybelline, one of the L’Oreal Group’s most recognisable colour cosmetic brands, will end its operations in Korea.
The Ordinary set for China launch as Estée Lauder targets masstige consumers
The Ordinary will debut in China in February as parent company Estée Lauder ramps up efforts to capture the growing masstige consumer base.
Stéphane de la Faverie, president, chief executive officer and director of The Estée Lauder Companies announced this news on February 4 during the firm’s second quarter earnings conference.
“We are thrilled that The Ordinary is debuting in Mainland China this month with its proven disruptive launch strategy,” he said.
Coty Japan plans portfolio expansion as it takes full control of operations in July
American multinational Coty will assume direct control of its Japan operations from Bluebell Japan effective July as it aims to deepen its presence in the market.
Starting July 1, Coty will directly handle import, distribution, and sales of its products in Japan. This will include products from brands such as Burberry, Calvin Klein, Chloe and Gucci.
In press statement released by Coty, Shosaku Yamamori, president and chief executive of Coty Japan indicated that the company plans to expand its portfolio in Japan.
Unilever India acquires majority in Minimalist to ‘turbocharge’ premium beauty portfolio
The acquisition of Minimalist will strengthen Hindustan Unilever’s (HUL) premium beauty offerings, which is “under-indexed”, says its CFO.
Unilever’s Indian subsidiary confirmed it has entered into a definitive agreement to acquire local skin care brand Minimalist during its latest financial conference on January 22.
“This marks another step in the transformation journey of our portfolio towards higher growth demand spaces,” said Ritesh Tiwari, Chief Financial Officer, HUL.
