South Korea’s beauty industry had enjoyed a blush of renewed optimism that its year-long China nightmare was coming to an end as the two countries looked to be moving past a diplomatic stand-off over a US missile shield.
The rosier outlook encouraged makers of beauty products to ramp up marketing to attract Chinese consumers, eyeing a rebound in sales after being hit by Beijing’s economic blockade against South Korean products.
But they face a battle to regain lost ground in China’s $53bn beauty market with the ascent of local brands threatening their competitiveness. And it is a trend that is likely to continue as tensions between Seoul and Beijing rise once again.
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