We summarized the news concerning domestic and international beauty and health from last week (August 29th to September 2nd (Korean time).
There were some notable statistics.
Despite the global recession, U.S. cosmetics companies have shown good performance.
Both brand companies and professional distribution have reported better results than market forecasts.
The results of a market survey on China's rapidly growing perfume market also came out.
According to Euromonitor, the Chinese perfume market grew 40% last year compared to 2019, two years ago.
Nearly 4,700 offline stores closed in China in the first half of this year.
There were 2,800 clothing stores, followed by 700 convenience stores and 600 cosmetics stores.
The domestic hair dye shampoo market, which has been heating up recently, has reached 130 billion won.
This is about 10% of the total hair market, which is worth 1.3 trillion won.
It is news that cosmetics exports to China have decreased in 11 years.
Although it was expected to some extent, the decline rate in the first half of this year exceeded 20% compared to the same period last year, raising concerns.
Last year, the domestic pharmaceutical market exceeded KRW 25 trillion. This is a 9.6% increase from the previous year.
Exports rose 14% and reached 11.3642 trillion won. This is the greatest performance ever.
It was found that the average annual export growth rate of Korean cosmetics between 2012 and 2021 was 27%.
Considering that the general export growth rate during the same period was 1.8%, it is about 15 times higher.
It is around 8.6 times the amount.
AmorePacific, which suffered an earnings shock in the second quarter of the year, has reportedly acquired the U.S. luxury clean beauty brand "Tata Harper".
The move, following last year's investment in KOSDAQ, is expected to resolve the negative reputation of being passive in mergers and acquisitions to an extent.
It is also expected to play a positive role in reducing dependence on China, a significant challenge.
The news of Hyundai Bio Land, Korea's No. 1 cosmetics material company, is also drawing attention.
Recently, the company has introduced various functional health functional food materials, and the prospect of entering the pharmaceutical industry has been acknowledged.
The "2030 Vision" released last year by its parent company Hyundai Department Store Group is also expected to speed up its move as a comprehensive company that encompasses health and beauty.
We hope you have a strong and healthy start to the new week.
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