THE WHAT? LG Household & Healthcare has reported a Q2 net profit drop of 44.3 percent, reporting 126 billion won (US$96.9 million) in the April-June period, compared with 226.4 billion won during the same period last year.
THE DETAILS Operating profit was down 35.5 percent YOY to 216.6 billion won, with sales falling fell 7.9 percent on-year to 1.86 trillion won.
Home and daily beauty care unit posted a modest performance, which was pushed by improved product mix and a sales increase of premium products.
THE WHY? The dip was attributed to worldwide inflations and problems causes by the COVID-19 pandemic and war in Ukraine.
Taking to a statement, the South Korean cosmetics company said, “The company’s second quarter operations suffered a heavy setback after China tightened its COVID-19 lockdowns in March, which restricted people’s movements, closed operations at our retail stores and limited movement of logistics,” the company explained in a statement.
“The prolonged war in Ukraine led to a rise in raw material prices and pushed consumer prices, eventually hindering growth in our sales and operating profits.”
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.
