The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_X_on_2023.svgbt_X_over_2023.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
  • Hangzhou Asian Games
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_X_on_2023.svgbt_X_over_2023.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    INTERVIEWINFINITE's Nam Woo-hyun returns after battling with rare cancer

  • 3

    Busan eyes Expo 2035 after losing to Riyadh

  • 5

    December brings mix of action, thriller, romance to small screen

  • 7

    US, S. Korea cast doubt over NK's satellite photos

  • 9

    Seoul to introduce 'English tutor robots' for young students

  • 11

    As Christmas nears, people feel growing income disparity

  • 13

    Why are major South Korean stocks persistently undervalued?

  • 15

    Saudi Expo win puts Korean firms in line for contracts

  • 17

    Birthrate might fall below 0.7 in Q4

  • 19

    Economist challenges Yoon's immigration policies

  • 2

    2023 MAMA Awards hit Tokyo Dome with stellar lineup

  • 4

    It's beginning to look a lot like Christmas

  • 6

    Cargo ship submerged off Korea's southwestern coast; no crewmen found

  • 8

    BTS wins 2023 MAMA Award for Worldwide Icon of the Year

  • 10

    How can Korea become more migrant-friendly?

  • 12

    Jefferies to open Seoul office in January

  • 14

    Hyundai Motor unveils universal wheel drive system

  • 16

    SPECIAL REPORTKorea should embrace cultural diversity in integrating immigrants

  • 18

    N. Korea says spy satellite took photos of White House, Pentagon, key US naval base

  • 20

    Airline operating guideline to include mandatory passenger warning against opening plane door

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
Thu, November 30, 2023 | 17:48
Companies
LG H&H pivots to N. America to offset falling China sales
Posted : 2022-04-21 17:13
Updated : 2022-04-21 20:05
Kim Jae-heun
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
LG H&H CEO Cha Suk-yong / Courtesy of LG H&H
LG H&H CEO Cha Suk-yong / Courtesy of LG H&H

By Kim Jae-heun

LG Household & Health Care (LG H&H) is shifting its focus to the North American cosmetics market to diversify its business portfolio, while cutting its heavy reliance on the Chinese market, with which it grew explosively until last year, according to company officials, Thursday.

The company said it acquired the U.S cosmetics brand The Creme Shop to target customers in their teens and 20s in the United States. The Creme Shop has averaged 30 percent growth with its cosmetics business in the last three years, riding on the popularity of K-beauty.

The Creme Shop, a mid-priced cosmetics brand founded by a Korean American, gained popularity through its collaborative products with BTS, Hello Kitty and Disney characters.

In May 2020, LG H&H also acquired a business license to sell Physiogel in North America and Asia.

"LG H&H CEO Cha Suk-yong said in his New Year address this year that the company aims to become a global cosmetics firm by expanding its business in North America, the largest market where the trends are created," an official working at a local cosmetics firm said. "As local firms struggle to make a turnaround in the Chinese market, where so many local companies have been biting into their market shares, Cha decided to turn his eyes on the North America market."

The Chinese market accounted for 16 percent of LG H&H's total sales. If the company adds revenue created by Chinese duty-free customers, the ratio increases to 38 percent. This has worried many industry watchers, who argued that LG H&H should cut its heavy reliance on the Chinese market.

Since 2020, LG H&H has been watching its sales decline in China due to emerging new local brands that took away nearly 30 percent of the medium-low-priced cosmetics market there.

LG H&H CEO Cha Suk-yong / Courtesy of LG H&H
Product lineup of LG H&H's premium cosmetics brand The History of Whoo / Courtesy of LG H&H


However, LG H&H's premium The History of Whoo brand is still showing decent performance in China, and the company wants to stay active in the lucrative market in the long term.

"There are negative outlooks predicted for our business in China but it is still an important market for us. We will continue to introduce our new high-end brand products there while expanding our cosmetics business in North America," an LG H&H official said.


Emailjhkim@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
LG group
Top 10 Stories
1Busan eyes Expo 2035 after losing to Riyadh Busan eyes Expo 2035 after losing to Riyadh
2US, S. Korea cast doubt over NK's satellite photos US, S. Korea cast doubt over NK's satellite photos
3Saudi Expo win puts Korean firms in line for contracts Saudi Expo win puts Korean firms in line for contracts
4[SPECIAL REPORT] Korea should embrace cultural diversity in integrating immigrants SPECIAL REPORTKorea should embrace cultural diversity in integrating immigrants
5Birthrate might fall below 0.7 in Q4 Birthrate might fall below 0.7 in Q4
6Busan citizens disappointed but ready for World Expo 2035 bid Busan citizens disappointed but ready for World Expo 2035 bid
7Chanel, Hermes, Nike rectify customer policies after FTC warning Chanel, Hermes, Nike rectify customer policies after FTC warning
8Samsung Electronics appoints younger figures in personnel reshuffle Samsung Electronics appoints younger figures in personnel reshuffle
9FSS chief lashes out at banks over ELS sales FSS chief lashes out at banks over ELS sales
10Journey into Tomorrow: Commemorating 140 years of Korean-German diplomatic relations Journey into Tomorrow: Commemorating 140 years of Korean-German diplomatic relations
Top 5 Entertainment News
1December brings mix of action, thriller, romance to small screen December brings mix of action, thriller, romance to small screen
2[INTERVIEW] ASTRO members aim to shine in musical theater INTERVIEWASTRO members aim to shine in musical theater
3'Our Season' director, veteran actor discuss creating relatable mother-daughter story 'Our Season' director, veteran actor discuss creating relatable mother-daughter story
4[INTERVIEW] INFINITE's Nam Woo-hyun returns after battling with rare cancer INTERVIEWINFINITE's Nam Woo-hyun returns after battling with rare cancer
52023 MAMA Awards hit Tokyo Dome with stellar lineup2023 MAMA Awards hit Tokyo Dome with stellar lineup
DARKROOM
  • It's beginning to look a lot like Christmas

    It's beginning to look a lot like Christmas

  • 2023 Thanksgiving parade in NYC

    2023 Thanksgiving parade in NYC

  • Appreciation of autumn colors

    Appreciation of autumn colors

  • Our children deserve better

    Our children deserve better

  • Israel-Gaza conflict erupts into war

    Israel-Gaza conflict erupts into war

  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher: Oh Young-jin
Digital News Email: webmaster@koreatimes.co.kr
Tel: 02-724-2114
Online newspaper registration No: 서울,아52844
Date of registration: 2020.02.05
Masthead: The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group