08.01.23
Japan
www.kose.co.jp
Sales: $2.2 billion
Key Personnel: Kazutoshi Kobayashi, president and CEO; Yasukiyo Kobayashi, Honorary Chairman; Takao Kobayashi, senior executive director; Masanori Kobayashi, executive director; Koichi Shibusawa, executive director; Yusuke Kobayashi, director; Shinichi Mochizuki, director; Masahiro Horita, director; Atsuko Ogura, director, R&D Laboratories
Major Products: Cosmetics, skin care, fragrance, haircare and sun care sold by Decorté, Jill Stuart, Tarte, Sekkisei Miyabi, Infinity, Predia, Addiction, Imprea, One by Kosé, Sekkisei, Lerchéri, Espirque, Astaluxe, X-Barrier by Dr. Phil Cosmetics, Acneo by Dr. Phil Cosmetics, Maidada, Carté HD, Visée, Fasio Nailholic, Make Keep Mist, Stephen Knoll New York, Softymo, Je l’aime, Magnifique, Bioliss, Clear Turn, Suncut, Grace One
New Products: Decorté—Liposome Advanced Repair Cream; Tarte—Maracuja Juicy Lip series, Shape Tape Radiant; Je l’aime—Relax (relaunch)
Comments: In Japan, Kosé said sales and profits in 2022 were up mainly due to its high prestige category, with strong sales at both department stores and specialty cosmetics stores. Kosé said since the entire cosmetics market recovered, 2022’s sales were above 2021 and the company’s revised estimates. Earnings were also above 2021 due to efforts to hold down the cost of sales ratio and control marketing expenses, it said.In China (excluding TR), sales and profits were below 2021. According to Kosé, the country’s zero-covid policy prevented a return to normal economic activity and performance was also impacted by intense e-commerce competition and temporary store closures and reduced hours. In China/South Korea TR, China duty-free sales were above 2021 but slightly below its revised plan. Profits exceeded 2021 and the revised plan. South Korean duty-free sales and profits were far below 2021 but sales reached the revised plan and earnings surpassed the plan due to a lower cost of sales ratio and cost controls.
Overseas, Kosé said sales were above those in 2021 and its revised plan due to strong consumer spending and the yen’s depreciation (+6.2% excluding forex). Earnings, however, were lower than in 2021—which Kosé attributed to the higher cost of sales ratio and increase in SG&A expenses—but topped Kosé’s revised plan due to strong holiday shopping season sales.
By category, cosmetics segment sales increased as higher sales came from Tarte, Decorté, Albion, Jill Stuart and other high prestige brands.
www.kose.co.jp
Sales: $2.2 billion
Key Personnel: Kazutoshi Kobayashi, president and CEO; Yasukiyo Kobayashi, Honorary Chairman; Takao Kobayashi, senior executive director; Masanori Kobayashi, executive director; Koichi Shibusawa, executive director; Yusuke Kobayashi, director; Shinichi Mochizuki, director; Masahiro Horita, director; Atsuko Ogura, director, R&D Laboratories
Major Products: Cosmetics, skin care, fragrance, haircare and sun care sold by Decorté, Jill Stuart, Tarte, Sekkisei Miyabi, Infinity, Predia, Addiction, Imprea, One by Kosé, Sekkisei, Lerchéri, Espirque, Astaluxe, X-Barrier by Dr. Phil Cosmetics, Acneo by Dr. Phil Cosmetics, Maidada, Carté HD, Visée, Fasio Nailholic, Make Keep Mist, Stephen Knoll New York, Softymo, Je l’aime, Magnifique, Bioliss, Clear Turn, Suncut, Grace One
New Products: Decorté—Liposome Advanced Repair Cream; Tarte—Maracuja Juicy Lip series, Shape Tape Radiant; Je l’aime—Relax (relaunch)
Comments: In Japan, Kosé said sales and profits in 2022 were up mainly due to its high prestige category, with strong sales at both department stores and specialty cosmetics stores. Kosé said since the entire cosmetics market recovered, 2022’s sales were above 2021 and the company’s revised estimates. Earnings were also above 2021 due to efforts to hold down the cost of sales ratio and control marketing expenses, it said.In China (excluding TR), sales and profits were below 2021. According to Kosé, the country’s zero-covid policy prevented a return to normal economic activity and performance was also impacted by intense e-commerce competition and temporary store closures and reduced hours. In China/South Korea TR, China duty-free sales were above 2021 but slightly below its revised plan. Profits exceeded 2021 and the revised plan. South Korean duty-free sales and profits were far below 2021 but sales reached the revised plan and earnings surpassed the plan due to a lower cost of sales ratio and cost controls.
Overseas, Kosé said sales were above those in 2021 and its revised plan due to strong consumer spending and the yen’s depreciation (+6.2% excluding forex). Earnings, however, were lower than in 2021—which Kosé attributed to the higher cost of sales ratio and increase in SG&A expenses—but topped Kosé’s revised plan due to strong holiday shopping season sales.
By category, cosmetics segment sales increased as higher sales came from Tarte, Decorté, Albion, Jill Stuart and other high prestige brands.