South Korean conglomerate LG Household & Healthcare has reported record-high sales and profits results driven by China’s demand for its luxury beauty products.
LG Household & Healthcare (LG H&H) is a consumer goods company that manufactures cosmetics, household goods, and beverages.
Brands in the company’s cosmetics portfolio include The History of Whoo, The Face Shop, Belief and Su:m37.
The company continues to feel the effects of the COVID-19 pandemic, with offline channels experiencing sharp decline in sales as a result of the plunge in tourism and store closures.
Despite this, sales and operating profit of its beauty divisions quickly recovered to pre-COVID levels due to the fast growth in luxury cosmetics and overseas markets.
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