Korean Beauty Trends & Industry News: 24-03-18

The New World of Budget-Friendly Beauty: The Daiso Cosmetics Wave

    In an era of high inflation, consumers are increasingly prioritizing value for money, leading to a surge in popularity for cosmetics priced under $5. Daiso has responded to this demand, reporting an 85% increase in sales of basic and color cosmetics compared to the previous year. The retailer offers over 260 cosmetic products from 26 brands, including Nature Republic, Danahan, Clio, and VT Cosmetics, with some items like VT Cosmetics' Riddle Shot Facial Boosting First Ampoule causing stock shortages due to high demand. Sales in the basic cosmetics category alone soared by 165% year-over-year.

Daiso targets the budget-conscious Generation Z and Alpha with all products priced under $5. Recently, it launched over ten makeup items from the brand Son & Park, including Arti Water Glow Tint, Arti Water Blur Tint, and Arti Spread Color Balm, each priced at $3. These launches emphasize the ability for consumers to find beauty products that match their skin tone at affordable prices. Daiso plans to continue expanding its range of beauty products.

Daiso's annual sales increased from 2.6 trillion won in 2021 to 2.9 trillion won in 2022, with estimates surpassing 3 trillion won last year. Operating profits were recorded at 283.8 billion won in 2021 and 239.3 billion won in 2022, with the company operating 1,519 stores and employing over 12,000 people last year. Daiso has established itself as a leader in the value-driven beauty market, gaining widespread consumer love.

Controversy Over Hair Loss Treatment Effectiveness: 622 Cases of False Advertising Detected by the MFDS

    The Ministry of Food and Drug Safety (MFDS) recently detected 622 cases of false and exaggerated advertising for hair loss treatment and prevention products across online shopping malls, social media, blogs, and second-hand markets. The majority of these advertisements were for products claiming unverified benefits in preventing or treating hair loss, including unauthorized overseas pharmaceuticals, food, and cosmetics.

The MFDS emphasized that no food or health supplement sold in Korea has been officially recognized for preventing or treating hair loss. While some functional cosmetics may alleviate hair loss symptoms, there's no scientific evidence supporting their effectiveness in hair growth. The MFDS warns consumers against being misled by unverified product claims and advises that medical products causing adverse effects should be prescribed by professionals, emphasizing the importance of verifying whether products are MFDS-approved.

Daebong LS Leads Cosmetic Innovation with Jeju Yuzu Fermentation Patent

    Daebong LS has patented a cosmetic ingredient using fermented Jeju yuzu to protect skin from fine dust and UV rays. This ingredient, derived from yuzu grown in Jeju's warm sea breezes, uses flavonoids to shield skin from aging factors and UV damage.

Thanks to Daebong LS's unique vegan ultra-biome method, the loss of yuzu flavonoids is minimized, showing a 10.297% reduction in fine dust absorption on the skin in human body application tests. The components naringin and hesperidin strengthen the skin barrier and inhibit melanin production, aiding in skin protection and damage repair.

This ingredient's effectiveness and technology have been globally recognized through publication in KCI and a poster presentation at IFSCC 2021. Daebong LS commits to providing effective and skin-friendly solutions that match global trends, addressing consumer concerns highlighted on social media. This positions Daebong LS as a leader in cosmetic ingredient innovation.

Cosmax Achieves 'A-' Grade in Climate Change Response for a Sustainable Future

    Cosmax has been awarded a 'Leadership A-' grade in climate change response by the Carbon Disclosure Project (CDP), a global sustainable management evaluation organization. This grade reflects the company's continual improvement in sustainability since its first participation in 2017, moving up from three consecutive years of 'B' grades to 'A-'.

Under the vision of "inspiring customers with environmental love," Cosmax has intensified its environmental management system. This includes strict self-imposed standards for air pollutant emissions and water resource usage, alongside a sustainable management report outlining a green value roadmap. The company's strategic initiatives focus on expanding eco-friendly packaging, establishing a platform to solve plastic issues, and setting standards for the production of harmless cosmetics to humans and the environment.

Cosmax spokesperson stated the company's commitment to satisfying customers and creating shared value through sustainable cosmetic production. Their efforts underscore Cosmax's role as a pioneering force towards a sustainable future, aligning with global trends for eco-friendly solutions.