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.
To build a business that lasts, brands must appeal to more than their original core demographic. Behemoths like Nike and Apple have done so — but makeup, skin care and hair lines have had less luck.
BoF Careers provides essential industry insights for beauty professionals this month, featuring roles from Karla Otto, Tory Burch and Chalhoub Group.
Famed for speedy weight loss, the effects of the prescription-only drug are now shifting beauty standards.
The ‘90s-inpsired sunscreen brand brings back a cult classic, and more industry news.