The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The K-beauty giant announced Friday that it will shutter all Innisfree stores in North America beginning Saturday, citing the pandemic, The Korea Times reports.
The affordable beauty brand, which opened its first store in New York in September 2017, will continue to be sold through Sephora outlets. It’s not the only brand under the Amorepacific umbrella that’s struggling: Etude House, another one of the conglomerate’s high street offerings, is facing capital impairment and began shuttering stores after sales peaked in 2014.
The move is consistent with Amorepacific’s stated intention to focus on digital channels over its physical footprint. Last week, the group reported that its first-quarter earnings increased by almost 90 percent year-on-year on the back of online and strong overseas sales growth in markets like China.
Prestige makeup is fashion’s category expansion du jour. But even the market’s most powerful players could learn a thing or two from its celebrity-backed competition.
Shining light on the $12.3 billion SPF boom.
News of a potential exit has the beauty industry in shock and awe of the Selena Gomez-founded label, and wondering what its next move should be.
L'Oréal reported a 9.4 percent rise in first quarter sales on a like-for-like basis on Thursday, beating expectations and easing concerns about a slowdown in the two biggest beauty markets; the United States and China.