Shinsegae International has observed that economic fears are not deterring consumers from purchasing luxury niche fragrances, believing they have replaced lipstick as the new recession-proof commodity.
The strength of L’Oréal’s hair care business in 2022 came as a positive post-COVID surprise as consumers aspired to healthier, more diversified looks and shopped at the premium end of this category, its CEO says.
International beauty major The Estée Lauder Companies and French luxury fashion house Balmain have entered into a license agreement to collaboratively develop and launch an inclusive prestige beauty line next year.
Beauty and fragrance manufacturer Coty reports that the growth of its prestige beauty business in China is outstripping the market, with the firm predicting that the luxury sector, in particular, is ripe for future growth.
Kosé Corporation has entered a partnership with spa group Aman Group to showcase Decorté in a series of exclusive facial and body treatments as it strives to turn the brand into a global prestige beauty powerhouse.
Swiss luxury skincare brand La Prairie has launched its first standalone flagship store in South East Asia, which it believes will help the brand to meet the increasing demand for a more personalised experience for its high-end clientele.
Kao Corporation is working to reinforce the online presence of its high-end beauty brand SENSAI in key markets such as Japan, China and Europe, in order to strengthen its position in the prestige skin care market.
The penchant for livestreaming in China is supporting the remarkable demand for luxury beauty products among the younger generation of consumers, according to China’s leading e-commerce company Alibaba.
Luxury beauty brand By Terry and distributing partner Luxasia are counting on a digitally-led approach to weather the novel coronavirus (COVID-19) crisis and achieve their ambitions for the brand in Asia.
The global luxury goods market will shrink dramatically in the face of the ongoing coronavirus (COVID-19) crisis, with significant downgrades expected in Switzerland, Germany, Italy and France, says Euromonitor International.
Ultra-natural has taken hold across several beauty and personal care categories and fine fragrance will eventually make its mark with the right innovation and transparency focus, says a Firmenich executive.