Strategic Shifts of Japanese and Korean Beauty Giants in China
2024-12-09
Japanese and Korean companies in China have entered a period of concentrated adjustment.
LG Household & Health Care, Shiseido, Kose, and three other major Japanese and Korean beauty companies have all released their financial reports for the third quarter.
Through analysis, it was found that as of the first nine months of 2024, only LG Household & Health Care experienced a slight decrease of 0.7% in operating income; in terms of operating profit, Kao Corporation achieved a growth of 118.3%.
In response to the decline in performance in the Chinese market, all four companies attributed it to the decline in travel retail performance and poor transaction results in e-commerce channels.
Based on the latest financial reports of the five major Japanese and Korean beauty giants and the disclosed series of adjustments, it is not difficult to find that deep localization reforms centered around China have become a must for Japanese and Korean companies.
The specifics include:
1.Fully advancing cost control plans
2.Boosting performance through "streamlining" and focusing on key brands
3.Accelerating organizational restructuring
4.Diversifying business investments in a three-dimensional manner
1.Fully advancing cost control plans
2.Boosting performance through "streamlining" and focusing on key brands
3.Accelerating organizational restructuring
4.Diversifying business investments in a three-dimensional manner
Shiseido's Strategic Overhaul-Cost-Cutting and Market Expansion
Development of China's Hair Care Market and Competition Among International Brands
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