In this round-up of financial results, M&As and funding drives in the cosmetics industry, we highlight news of Kao’s travel retail expansion, Liht Organic’s royal partnership, MyGlamm’s Series C funding and more.
1 – Full-scale expansion: Why Kao is pinning its hopes on travel retail in China despite global tourism woes
Kao has unveiled plans for a full-scale entry into China’s travel retail space – at both airports and downtown stores – on the back of booming offshore duty-free sales in the past year thanks to government efforts to boost domestic tourism.
Unsurprisingly, its first foray will be via Hainan Island, where the government last year increased the duty-free allowance for domestic travellers to 100,000RMB (US$15,000), up from 30,000RMB.