De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
South Korea
Retail
Trump Shaves China Tariffs After ‘Amazing’ Xi Meeting
The meeting between US president Donald Trump and China’s Xi Jinping resulted in an agreement to de-escalate some measures but left fundamental issues unresolved.
Trump Shaves China Tariffs After ‘Amazing’ Xi Meeting
The meeting between US president Donald Trump and China’s Xi Jinping resulted in an agreement to de-escalate some measures but left fundamental issues unresolved.
Beauty
Inside South Korea’s Cosmetic Tourism Boom
Korea’s medical tourism sector is thriving — but strict defamation laws, cultural differences and nationwide doctors’ strikes present unique challenges to foreigners seeking medical and aesthetic treatments in the global beauty capital.
Inside South Korea’s Cosmetic Tourism Boom
Korea’s medical tourism sector is thriving — but strict defamation laws, cultural differences and nationwide doctors’ strikes present unique challenges to foreigners seeking medical and aesthetic treatments in the global beauty capital.
Beauty
A 36-Year-Old Beauty Mogul Is South Korea’s Newest Billionaire
APR Corp. has become a dominant force in the global K-beauty market, turning its founder, Kim Byung Hoon, into South Korea’s newest billionaire.
A 36-Year-Old Beauty Mogul Is South Korea’s Newest Billionaire
APR Corp. has become a dominant force in the global K-beauty market, turning its founder, Kim Byung Hoon, into South Korea’s newest billionaire.
Global Markets
Why A Dior Handbag Caused a Stir in South Korean Politics
South Korean President Yoon Suk Yeol is fighting for his political life. A gifting sting that went public last year contributed to eroding public support.
Why A Dior Handbag Caused a Stir in South Korean Politics
South Korean President Yoon Suk Yeol is fighting for his political life. A gifting sting that went public last year contributed to eroding public support.
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Luxury
Gucci Show Reaffirms Seoul’s Status as Capital of Pop Culture
K-style takes centre stage in collection that draws inspiration from South Korea’s contemporary and traditional dress.
Gucci Show Reaffirms Seoul’s Status as Capital of Pop Culture
K-style takes centre stage in collection that draws inspiration from South Korea’s contemporary and traditional dress.
Beauty
Unravelling the K-Beauty Paradox
South Korea is one of the world’s leading exporters of beauty products but the narrow definition of ‘K-beauty’ in international markets means many exciting brands in Seoul have yet to go global.
Unravelling the K-Beauty Paradox
South Korea is one of the world’s leading exporters of beauty products but the narrow definition of ‘K-beauty’ in international markets means many exciting brands in Seoul have yet to go global.
Global Markets
Seoul Fashion Week’s Hybrid Season Draws to a Close
This season, its face was Lee Jung-jae, the star of Netflix’s Squid Game — a signal of the event’s ongoing mission to help Korean designers ride the Korean wave (hallyu).
Seoul Fashion Week’s Hybrid Season Draws to a Close
This season, its face was Lee Jung-jae, the star of Netflix’s Squid Game — a signal of the event’s ongoing mission to help Korean designers ride the Korean wave (hallyu).
Luxury
Chanel Duels South Korean Resellers Amid Luxury Boom
Chanel has barred nearly a third of would-be shoppers to stop bulk buyers snagging $10,000 bags for resale with markups of 20 percent or more.
Chanel Duels South Korean Resellers Amid Luxury Boom
Chanel has barred nearly a third of would-be shoppers to stop bulk buyers snagging $10,000 bags for resale with markups of 20 percent or more.
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Global Markets
K-Beauty Giant Amorepacific Looks to Shift Gears In China
The group behind brands like Sulwhasoo, Etude House and Innisfree, is considering giving sales in the key market a much-needed boost by cutting back on physical stores and accelerating expansion of its premium offering and digital channels.
K-Beauty Giant Amorepacific Looks to Shift Gears In China
The group behind brands like Sulwhasoo, Etude House and Innisfree, is considering giving sales in the key market a much-needed boost by cutting back on physical stores and accelerating expansion of its premium offering and digital channels.
Global Markets
Galleria Department Store’s Annual Sales Hit 1 Trillion Won Mark
Sales at the 31-year-old South Korean retailer’s luxury outpost in Seoul’s Apgujeong neighbourhood reached 1 trillion won (around $844 million) for the first time.
Galleria Department Store’s Annual Sales Hit 1 Trillion Won Mark
Sales at the 31-year-old South Korean retailer’s luxury outpost in Seoul’s Apgujeong neighbourhood reached 1 trillion won (around $844 million) for the first time.
Global Markets
Korean Beauty Retailer Olive Young Eyes $1 Billion IPO
The health and beauty chain, also known as CJ Olive Young, is looking to raise $1 billion in a local public offering sources say will take place early 2022.
Korean Beauty Retailer Olive Young Eyes $1 Billion IPO
The health and beauty chain, also known as CJ Olive Young, is looking to raise $1 billion in a local public offering sources say will take place early 2022.
Global Markets
Department Store Sales Boost Shinsegae’s Q3 Earnings
The South Korean retail giant announced its net income for the July-September period of 2021 hit 188.9 billion won (around $160.4 million) on a consolidated basis, a sharp uptick from the 858 million won ($728,638) in profits it reported last year.
Department Store Sales Boost Shinsegae’s Q3 Earnings
The South Korean retail giant announced its net income for the July-September period of 2021 hit 188.9 billion won (around $160.4 million) on a consolidated basis, a sharp uptick from the 858 million won ($728,638) in profits it reported last year.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.