THE WHAT? Sephora has announced that it is pulling out of South Korea. On an Instagram post, the LVMH-owned retailer revealed that it would terminate operations with a phased withdrawal commencing from May 6, 2024.
THE DETAILS The phased withdrawal will affect Sephora’s e-commerce platform, mobile app and bricks and mortar stores, according to a report published by Korea JoongAng Daily.
THE WHY? Korea JoongAng Daily posits that the beauty retailer has struggled in the face of stiff competition from local chain, Olive Young. An anonymous industry expert told Korea JoongAng Daily, “When Sephora entered the market, it should have tailored its strategy to stand out but it struggled to adapt locally. Despite the high quality and relatively lower prices of Korean cosmetics, Sephora failed to offer enough unique advantages, which is disappointing from a strategic standpoint.”
Clinical aesthetics products refer to a category of products used in the field of medical aesthetics or cosmetic dermatology. These products are typically designed and formulated to be used under the supervision of healthcare professionals, such as dermatologists, plastic surgeons, or trained aestheticians. They are distinct from over-the-counter cosmetics in that they often contain active ingredients or formulations that require expertise in their application or administration.
Examples of clinical aesthetics products include:
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Dermal Fillers: Injectable substances used to add volume, smooth wrinkles, and enhance facial contours. Examples include hyaluronic acid fillers like Juvederm and Restylane.
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Botulinum Toxin (Botox): Injectables that temporarily paralyze facial muscles to reduce the appearance of wrinkles caused by repetitive movements, such as frown lines and crow's feet.
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Chemical Peels: Solutions applied to the skin to exfoliate and improve its texture. They can treat acne, pigmentation issues, and signs of aging.
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Laser and Light Therapies: Devices that emit focused light or laser energy to treat various skin conditions, including acne, scars, and signs of aging.
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Prescription Skincare Products: Formulations containing active ingredients like retinoids (vitamin A derivatives), hydroquinone, or prescription-strength antioxidants to address specific skin concerns under medical supervision.
