The vegan cosmetic market is rapidly expanding in Korea as consumers who are particularly interested in animal protection and the environment go for seemingly healthier products.
Amorepacific Group posted a net loss of 26 billion won ($20 million) in the second quarter, compared to a net profit of 142.8 billion won the previous year.
Korean cosmetic brands, which have been heavily reliant on the Chinese market, are shifting their focus to the United States and Japan to strengthen their global presence.
Sales of cosmetics rose during health and beauty store franchise Olive Young's recent sale spanning from June 2 to 8, the chain's first discount promotion since most social distancing measures were lifted in the country.
Three employees of Amorepacific reportedly siphoned off 3 billion won ($2.35 million) of company money, used it to gamble and buy stock and virtual assets, and were eventually caught.
Cosmetics companies are becoming tech savvy, using smart devices and robots to offer customization services for customers.
With mask mandates being lifted globally, cosmetics companies are enjoying boomlets that could continue to real comebacks following a long, dark winter.
Chanel Korea's cosmetics sales staff say they're sick of being treated shabbily and are threatening to walk out.
Health and beauty store CJ Olive Young will continue its evolution into a so-called omni-channel business next year and strengthen its online business.
A cosmetics store within Lotte Department Store in Daegu allowing customers to smell their sample perfumes on Tuesday. Cosmetics sales are estimated to have increased 32 percent compared to the previous two weeks.