THE WHAT? AmorePacific Group has reported its results for the second quarter of fiscal 2022. The K-beauty behemoth saw its Q2 2021 net profit of KRW59.2 billion wiped out for a net loss of KRW37.2 billion in Q2 2022 (-37.2 percent).
THE DETAILS Sales dropped 19.6 percent on the prior-year period to KRW945.7 billion with both domestic and overseas reporting decreases of 15.4 percent and 33.2 percent respectively. There were a couple of bright spots on the horizon, however, with Europe revenue rising 15 percent and North America sales growing by 66 percent.
THE WHY? AmorePacific said that its domestic business suffered as travel retail sales declined due to the resurgence of COVID-19 within China. Similarly, the overseas unit was affected by a decline in China revenue; China accounts for more than 50 percent of its Asia sales.
Aesthetic products generally refer to a broad category of items designed to enhance or improve one's appearance, often focusing on skincare, beauty, and personal grooming. These products are typically used to maintain or enhance physical attractiveness and may include a wide range of items intended for both professional and personal use. Here are some common types of aesthetic products:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments designed to address various skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows used to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Fragrances: Perfumes and colognes used to enhance personal scent and attractiveness.
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Dental Care Products: Toothpaste, mouthwash, whitening treatments, and dental floss aimed at maintaining oral hygiene and enhancing smile aesthetics.
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Personal Grooming Tools: Including razors, electric shavers, trimmers, and grooming kits used for hair removal and personal hygiene.
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Beauty Devices: Devices such as facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
