A South Korean cosmetics firm, backed by Japan's Nihon Kolmar, issued a public apology on Friday and its website remained down after its chairman showed employees a video praising Japan's prime minister.
Johnson & Johnson, L’Oreal and others have splashed out on cutting-edge cosmetics in Japan and Korea, seeking clout and innovation. But local beauty brands like Shiseido and Amorepacific could still reverse the trend.
In a surprise move on Friday, Anglo-Dutch consumer products giant Unilever said it has cancelled plans to move from its current dual-headquartered structure to a Dutch head office and Dutch main stock exchange listing.
Unilever has agreed to buy cosmetics firm Carver Korea for 2.27 billion euros ($2.71 billion) from Goldman Sachs, Bain Capital and the company’s founder as it expands its beauty and personal care business.