Halal beauty to reach $118bn by 2028 amid GCC funding and anti-fake push - report
Based on the 2024/2025 State of the Global Islamic Economy (SGIE) Report, global Muslim spending on cosmetics reached $87bn in 2023 (up 2.9% from 2022) and is on track to hit $118bn by 2028 at a CAGR of 6.3%.
The report also stated that the halal beauty market is driven primarily by Gulf Cooperation Council (GCC) investment, China supply chains, and anti-counterfeit efforts.
While wider awareness of halal positioning in both Muslim-majority and -minority markets was behind topline growth, halal claims were not the only driver. Buyers also weighed price, performance, sustainability, and digital access.
SM Group meets growing demand for health and wellness with extensive retail network
Filipino conglomerate SM Group is addressing the growing consumer demand for beauty and wellness products through its retail subsidiaries, including Watsons Philippines.
Also known as SM Investments Corporation, the company’s retail operations are said to be the Philippines’ largest and most diversified, consisting of grocery stores, department stores, and specialty stores.
Through this network, the Group aims to meet rising consumer demand for cosmetics and wellness products through greater accessibility across the country.
Beauty brands increasingly leveraging travel retail as channel of growth
Rituals is among beauty brands that are increasingly leveraging travel retail and forming strategic partnerships in this sector as a pillar of growth.
In July, the skin care brand officially entered Shanghai Pudong Airport Terminal 1, retailing a range of its most popular collections.
This move is the first step in a planned series of expansion across CDF-Sunrise’s footprint in China travel retail, which also includes Shanghai Hongqiao Airport, Beijing Capital Airport, and Daxin Airport.
Face lift: Kao refreshes cosmetics business strategy to push growth, build resilience
Japanese cosmetics giant Kao looks to bolster profitability and long-term growth by focusing resources on six brands, while building a more resilient business structure.
As a key growth driver within the Kao Group, the Cosmetics Business is targeting net sales of JPY400 billion (USD2.68bn) and an operating margin of 15% at the “earliest feasible time” after 2030.
A set of strategic initiatives have been announced, including dividing six brands poised for global growth into three distinct overseas expansion models, sharpening brand positioning and enhancing competitiveness in the international market.
Shiseido Travel Retail to expand cross-industry collaboration following popular roll-out
Shiseido Travel Retail looks to build on its strategic cross-industry partnerships, on the back of a well-received campaign in Thailand.
The initial phase of the campaign brought together four key players in the industry — ANESSA, Alipay+, Tourism Authority of Thailand, and King Power.
This initiative marks Shiseido’s first-ever partnership with a national tourism board, and a new strategic move for the company within the travel retail sector.
In addition, it builds upon Shiseido Travel Retail’s existing partnership with Alipay+ to further enhance the modern traveller’s experience through digital convenience and immersive engagement.
