Sephora is exiting the Korean market after struggling to understand the preferences of the country's consumers. It has faced an uphill battle against domestic beauty chain CJ Olive Young.
Customers try cosmetics products at a mall in downtown Seoul on Sunday.
Korean cosmetics spending remains weak due to inflation and the popularity of 'natural' makeup looks, benefitting smaller, budget-friendly sellers like Daiso, Tony Moly and Missha.
Located in Myeongdong in central Seoul, Beauty Play draws beauty product lovers from worldwide. It provides visitors with a wide array of experiences related to the Korean beauty industry, all free of charge.
The renovated Olive Young 'Myeong-dong Town' branch draws tourists with its trendy K-beauty products, expanding its customer base to a global audience.
Cosmetics prices are on the rise as major companies like LG Household & Health Care try to boost profits. Other goods, including food and beverages, are also becoming more expensive.
Amorepacific is entering the Mexican cosmetics market with its mid-range skincare-focused brand Laneige.
Amorepacific has introduced its luxury makeup brand, Hera, into the Japanese market as it hastens its expansion in the island nation to reduce its reliance on China.
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.
EV battery stocks have lost traction in recent weeks as the expected recovery of Chinese tourists put hotels, duty-free shops and cosmetics into the spotlight following China’s lifting of its group tour ban to Korea last week.
Korea JoongAng Daily Sitemap