Korean cosmetic companies are intensifying their marketing efforts in China as relations between the two countries continue to thaw and Chinese tour groups return to Korea.
The second quarter operating profit of LG Household & Health Care (LG H&H) plunged by 27.1 percent on-year to 157.8 billion won ($123.52 million) due to the prolonged sluggishness in the Chinese cosmetics market.
Korean high-end cosmetics brands — including Sulwhasoo and The History of Whoo — used to include Chinese characters in their packaging in an effort to appeal to Chinese consumers and present an ancient royal aesthetic.
Korean cosmetics and fashion companies cashed in on Singles Day, the world’s largest online shopping event.
LG Household & Health Care saw its consolidated net profit rise 3 percent on year in the third quarter on sales that fell 3 percent during the same period.
LG Household & Health Care had a record first half, reporting 485.2 billion won in net profit, up 10.6 percent on year.
LG Household & Health Care reported its best third quarter ever, although its cosmetics sales declined.
Korea JoongAng Daily Sitemap