The Ordinary is Estée Lauder’s best bet for China, but hurdles remain
Beauty major Estée Lauder is counting on The Ordinary to drive its growth in China but must navigate significant hurdles to win back skin care market.
The company recently announced the China launch of The Ordinary, a brand it gained through its acquisition of DECIEM, which was completed in June 2024.
The Ordinary is well-positioned to meet the rising demand for efficacious and high-quality skin care in China.
Amorepacific American business surpasses China for the first time in 2024
Amorepacific’s 2024 financial results revealed that its American business has outpaced China after sales rose a staggering 83%.
The South Korean beauty giant said sales in the Americas increased to KRW524.6bn (USD 361.7m), driven by Laneige, Innisfree, Sulwhasoo, and the consolidation of COSRX.
Laneige in particular maintained its top position in the lip treatment category with its Lip Glowy Balm range and the Lip Treatment range.
Demand for K-beauty in SEA drives Shopee Korea growth by 63%
Shopee Korea experienced significant growth in 2024, fuelled by strong demand for K-beauty and the expansion into key South East Asian markets.
The beauty category led the growth with a 77% year-on-year increase in order volume in 2024.
Orders for K-beauty product sets increased by 87% while skin care and makeup orders rose by 81%. Additionally, orders for makeup tools grew by 70%.
Able C&C profitability soars with growth from overseas sales, channel diversification
Missha owner Able C&C reports strong profitability gains in 2024, driven by strong sales performance overseas and a successful channel diversification strategy.
The South Korean cosmetic company described its growth overseas as “rapid” and “remarkable”.
The European market reported the strongest sales growth with 62.6% increase.
The other regions, including Asia and the Middle East, grew by 23.8%
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.
CosmeticsDesign-Asia was able to confirm with a L’Oreal Korea representative that Maybelline will cease its operations by the first half of 2025.
