The funds that Fuerjia is raising will be used for production base construction, research and development and quality testing center construction, brand marketing and promotion of three projects. August 1 morning, Harbin Fuerjia Technology Co., Ltd. (stock abbreviation: N Fuerjia) went public in the Shenzhen Stock Exchange, stock code "301371". The issue price is 55.68 yuan / share and opened at 80 yuan / share. As of 9:30 p.m., Fuerjia’s share price reached 80 yuan ($11.2) per share, up 43.68% from the issue price, with a total market capitalization of 32.01 billion yuan ($4.5 billion). So far, the first stock of medical dressing on A-share was created. Public information shows that Fuerjia is a professional skincare products engaged in the research and development, production and sales of the company. Its products covered medical device class dressings and functional skin care products, focusing on dressings and stickers, film, and the introduction of lotion, emulsion, spray, freeze-dried powder and other forms of products. In terms of profitability, according to the data of the Prospectus (Draft for the Meeting) published by Fuerjia, from 2020 to 2022, its revenue was 1.585 billion yuan ($221.1 million), 1.650 billion yuan ($230.2 million) and 1.769 billion yuan ($246.8 million). The net profit was 648 million yuan ($90.4 million), 806 million yuan ($112.4 million) and 847 million yuan ($118.2 million) respectively, and after deducting the non-profit net profit was 477 million yuan ($66.5 million), 774 million yuan ($108 million) and 766 million yuan ($106.9 million). From the perspective of product structure, at present, Fuerjia has 46 kinds of cosmetic products, far more than the number of medical device products (5 kinds). In the cosmetics category, facial mask is its core product. It is worth noting that, according to the prospectus, sales of Fuerjia cosmetic functional skincare products accounted for 51.05% in 2022, more than 50% for the first time. During the reporting period, sales of Fuerjia cosmetic products were 705 million yuan ($98.4 million), 722 million yuan ($100.7 millioin) and 903 million yuan ($126 million), accounting for 44.46%, 43.75% and 51.05% respectively. As for the sales model, the current Fuerjia online channel is divided into three modes: direct sales, distribution and consignment. It entered online platforms such as Tmall, Xiaohongshu, Douyin (Chinese version of TikTok), Kwai, Pinduoduo (Chinese version of Temu) and others. Its offline sales is based on the distribution model and mainly for the spa, chain retail pharmacies and other terminal channels. Although in recent years, it has been vigorously deploying e-commerce channels, but offline sales is still its main way. It is reported, the funds that Fuerjia is raising will be used for production base construction, research and development and quality testing center construction, brand marketing and promotion of three projects. Among them, the production base construction project is proposed to add a new production line of professional skin care products.

According to Prada's instagram, Prada's makeup and skincare collections were launched at the same time as the Chinese launch. Today (August 1), Prada launched makeup and skincare products online in China. Among them, the foundation and skincare were reclassified to become the skin collection, while the makeup collection was named the Rethinking collection. According to Prada's instagram, Prada's makeup and skincare collections were launched at the same time as the Chinese launch. The Rethinking collection includes 26 monochrome lipsticks, six eyeshadow palettes, and a lip balm, while the skincare collection includes creams, serums, cleansers, nine shades of foundation, and ten cosmetic brushes and tools. According to its flagship store on Tmall, the price of the products on the line is in the range of 315 yuan ($44) - 3370 yuan ($470). The lowest pricing product is its matte lipstick, the highest pricing product is facial essence. In addition to launching on the major e-commerce platforms, its offline stores in Nanjing Deji, Wuhan Chicony, Chengdu Chicony, etc. are also available. It is worth noting that L'Oréal said that the packaging of Prada makeup and skincare both practice innovative green practices, strict control of packaging materials, the use of recyclable plastics, and the promotion of sustainable replacement packaging, to ensure an excellent user experience while minimizing the environmental impact. It is reported that since Prada signed a beauty license agreement with L'Oreal, it has first relaunched its perfume line and entered the Chinese market in a big way. The expansion of the beauty product line also means that Prada, a century-old luxury brand, is taking a big step into the field of beauty. In terms of L'Oreal, its high-end beauty camp will usher in another big general.

The company also plans to continue to expand its business in high-end channels around the world, such as super five-star hotels and large department stores. Today, S’Young released a record sheet of investor relations activities, in which the company answered in detail the situation of the company's overseas brands and the future deployment of the overseas market. It is reported that S’Young is a company dedicated to introducing overseas niche brands into the Chinese market. Over the past few years, the company has invested a lot of money and time in opening stores, market communication, branding to general trade filing of products. However, after these years of development, the company has completed the groundwork for many brands, and by the second half of this year, many brands will complete the general trade filing one after another, and the company's entire performance will be well released. At the same time, the company's agency brand structure is also changing. In the past the company highly relied on Johnson & Johnson, but now the company has access to a large number of overseas niche brands. The revenue contribution of these brands and the structure of the continued change. As a result, the contribution of the entire S’Young operating structure will also change relatively significantly. Among them, EDB, as one of the brands represented by S’Young, has a very rich product line globally, including the Ultra Facial, Essence Water, Perfume, Fragrance, Extreme Line Series, and Massage Cream others. In addition, EDB also has the just-launched Sakura line, which is performing well in the Japanese market and is a line created by the founder for young people. At the beginning of this year, EDB's growth target was 60%, and the company's management believes that the first half of the year has been very bright, and the company will prepare to do some work for the development of the entire EDB for next year and the year after. This includes attending the Global Duty Free Channel Conference in France and preparing for the Olympic Games next year. In addition, the company also plans to continue to expand its business in high-end channels around the world, such as super five-star hotels and large department stores. Overall, the business model and agency brand structure of S’Young is changing. The company is constantly expanding into new markets and channels. EDB, as one of the company's agency brands, is also actively developing, and it is expected to continue to maintain a good growth momentum in the future.

The contract modification proposal put forward by LG H&H applies to its 406 franchise stores in Korea, including The Face Shop and Nature Collection stores. Recently, LG Household & Health Care (LG H&H), the parent company of cosmetic brands The Face Shop and Whoo, is considering abandoning its franchise business, according to several Korean media reports. In response to that, LG H&H said, "More and more people are shopping online and at beauty collection stores, and our franchise business strategy is in crisis." An industry source commented on this, "Franchise business will also be the past." "Franchise business strategy is in crisis." According to media reports, LG H&H has sent a proposal to store owners who have a license to operate cosmetics stores, indicating that the contract structure for offline franchisees may change from a "franchise agreement" to a "product supply agreement". Discussions are currently underway to finalize the arrangement. It is understood that franchising is a business model for franchisees to expand their business and sell goods and services, but also an opportunity for franchisees to operate their companies using well-known brands, which is the most familiar way of authorizing business. In layman's terms, franchising is a franchise and chain business model. It is reported that the contract modification proposal put forward by LG H&H applies to its 406 franchise stores in Korea, including The Face Shop and Nature Collection stores. However, the company's directly-managed stores will not be affected by this transition. Regarding this restructuring of the store contract structure, LG H&H said that with the adoption of the supply agreement model, franchisees will be given greater flexibility to introduce not only products from The Face Shop and Nature Collection brand ranges, but also products from other company brands. LG H&H added, "This change will give store owners the freedom to introduce popular products from low-risk brands, expanding their customer base beyond their existing customers and appealing to trend-sensitive young consumers in their mid-twenties." Regarding the strategic change, LG H&H attributed it mainly to changes in consumer behavior, "Our single-brand store strategy is in crisis as more and more people are shifting their shopping to online and beauty collection stores. Faced with numerous store owners who are considering closing or divesting, we recognize the urgency of the transition." Also according to Korea Fair Trade Commission, the number of cosmetics franchises in South Korea has dropped from 3,407 in 2018 to 1,588 in 2021, nearly halving the total number of stores。 While at the same time Olive Young, a beauty & wellness collection store owned by South Korea's CJ Group, has continued to increase the number of brick-and-mortar stores, from 1,259 in 2020 to 1,298 in 2022. "It may be an adjustment of business thinking, and it's mainly a matter of cost control. The efficiency of multi-brand store is higher than single-brand store. The operating costs, operating pressure is under less pressure. But correspondingly, brand effect is also lower." The person in charge of a Chinese beauty collection store told CHAILEEDO. "Numerous store owners closing their stores or withdrawing their capital means that the operating conditions of special operation stores are not good." Qian Qi, sales director of Hangzhou Meiyitian, said LG H&H franchise business model can no longer support the balance between special operators' operating costs and profits today, forcing it to undergo transformation. In addition, in the era of "austerity", consumers tighten the purse strings and they will certainly choose some of the more brand stores to buy the corresponding products. Franchise business are not easy to operate It is worth mentioning that this is not the first time that LG H&H has adjusted its stores. Public information shows that since 2017, LG H&H has adjusted the positioning strategy of its offline stores, replacing some of its single-brand stores with branded comprehensive stores, and many of The Face Shop stores around the world have been changed into branded comprehensive stores Nature Collection, which sell the group's popular line of skincare and daily chemical brands. If the transformation is finalized, the stores will be able to sell products from other company brands, which will undoubtedly further enrich the product range. Specifically for the Chinese market, The Face Shop once had more than 350 stores in mainland China at its peak. However, by 2018, The Face Shop mono-brand stores had been completely shut down. It is shown that Korean cosmetics have fallen off significantly in the Chinese market in recent years. According to the Korea Cosmetic Industry Institute and General Administration of Customs of the People’s Republic of China, the growth rate of Korean cosmetics exports to China from 2013 to 2016 was as high as 66%, and the occasion was no longer there after 2017. As of 2022, imports of "essential oils, balms, fragrance ingredients and cosmetics and toiletries" from South Korea totaled 18.22 billion yuan ($2.5 billion), a year-on-year decrease of 32.7%. For the operation of the franchise business, the above Chinese beauty collection store responsible person said, "It mainly depends on the scale. If a single brand franchise business is large enough, it can support the single brand store operating costs." Qian Qi said, "In general, the operating area of the franchise business under the beauty group is about 300-500 square feet, and the operating cost is higher. With Etude House, Innisfree and other brands have withdrawn from the Chinese market, it has been shown that the survival of single-brand store pressure. And among the Chinese brands, the number of franchise single-brand stores under a brand has shrunk from more than 260 to less than half, which further reflects the difficulty of operating single-brand stores." In fact, many beauty brands have tried single-brand franchise stores, but the success of the case is relatively small. Among Chinese brands, some of offline stores such as Fanwenhua, Dr. Plant, Forest Cabin business remain bright. Among them, Fanwenhua Chinese store number has exceeded 5,000. Dr. Plant in Japan, China, Hong Kong and other countries and regions has nearly 4,500 stores and the number of members over 20 million. However, with Korean cosmetics, Japanese cosmetics only with marketing attributes of the brand is different, these brands often also include skin management and other service business. Such as Fanwenhua this year upgraded the new "combination of Chinese and Western" new facial care model, with products + techniques to further enhance the effect of the product, thus driving product sales. Forest Cabin also opened the "Forest Cabin skincare" program to focus on creating consumer experience offline skincare scene. From South Korea, as well as the Chinese market, single-brand franchise stores operating well has been rare. Only transformation or innovation may win the way out. "It's the end of a natural life cycle" Looking back at the history of the development of single-brand franchise stores, it was once considered a dose of good medicine to help channel and brand transformation. In the 1990s, South Korea's cosmetics market is fully open to import and retail and international beauty brands have flooded in. At the same time, the Asian financial crisis broke out in 1997, low-end cosmetic stores were severely impacted. Against this backdrop, LG H&H took the lead in implementing a franchise business model, selling products directly to consumers and readjusting prices. By 2003 the single-brand franchise store in South Korea took shape, Fishy Shop, Mystique, etc. have joined the single-brand store development sequence, at that time, the ratio of multi-brand store and single-brand store is 92:8, after 10 years of competition and development, there is a dramatic change, in 2013, South Korea's multi-brand store and single-brand store ratio of 8:92. (For more details, see the Green Eye article "The Revolutionary History of the Single-Brand Store") Specifically in the Chinese market, the continued popularity of the "Korean Wave" culture has led to the blossoming of Korean beauty monobrand stores in the Chinese market. As we all know, MISSHA, The Face Shop, and Innisfree have all achieved great success in the Chinese market. Around in 2008, China's cosmetic franchise store channel and local brands spent a few years of rapid growth together. Among them, there are many conflicts of interest between the channel and the brand, such as the increase in the voice of large chains, squeezing the profits of small and medium-sized brands. The increase in the voice of large brands, squeezing the profits of small and medium-sized chain channels. In the game, Fanwenhua, Dr. Plant and other representatives of the local single-brand franchise stores began to sprout, and later developed and expanded. In recent years, a number of Korean single-brand store announced the withdrawal of China's offline market, part of the local single-brand store also left the one after another. An imported beauty agent believes that "this is the end of a natural life cycle." "Innovation, growth, maturity, decline," as summarized by the retail life cycle theory, the single-brand store model is also bound to go through development and change. Ten years a cycle, franchise stores today's decline has been the general trend. For beauty franchise stores, only according to the changing trends of consumers, as well as the development of the times, continuous development and change, in order to win the market.

The brand, POLA, still achieved revenue growth of approximately 20% in mainland China, highlighting the company's strong presence in the Chinese market. Japanese cosmetics company, POLA Orbis Holdings, has reported strong financial results for the first half of the fiscal year 2023. The company's consolidated net sales for H1 FY2023 reached 85.836 billion yen ($603.7 million), representing a 9% YoY increase. Gross profit also saw a significant increase, with a 9.6% YoY rise to 70.659 billion yen ($497 million). The company's revenue increased both in Japan and overseas, with a substantial increase in operating income. Consolidated net sales in Japan were up 7% YoY, while overseas net sales increased by an impressive 20% YoY. The increase in revenue was seen across all sales channels in Japan, supported by vigorous activity in aesthetic treatment and B.A. Meanwhile, overseas revenue increased by 33%, driving the Group's overseas business. However, the recovery in the cosmetics market in mainland China was moderate, against the Company’s expectations. The company's consolidated net sales of the Beauty care segment reached 83.529 billion yen ($587.5 million), representing a 9% YoY increase, primarily due to an increase in revenue from POLA and ORBIS, and operating income rose, mainly due to an increase in gross profit. In terms of brand, POLA's net sales reached 49.763 billion yen ($350 million), representing a 10.4% YoY increase. ORBIS net sales reached 20.902 billion yen ($147 million), representing a 9.7% YoY increase. Jurlique's net sales reached 3.838 billion yen ($27 million), representing a 5% YoY increase. Accoding to the financial report, ORBIS saw growth in Japan, with sales of highly functional UV protector contributing significantly to its net sales increase of approximately 1.5 times YoY. Jurlique's revenue increased in the first half, and losses were ameliorated in the second quarter and revenue increased in mainland China partly thanks to face oil continued to perform well, and the growth in Douyin. Furthermore, POLA achieved revenue growth of approximately 20% in mainland China, highlighting the company's strong presence in the Chinese market. Looking ahead, the company has set a full-year plan of 2023. Its net sales is expected to reach 180 billion yen ($1.27 billion), with the Beauty care segment net sales setting to reach 175.5 billion yen ($1.23 billion). With this strong financial performance and optimistic outlook, POLA Orbis Holdings looks set to continue its growth trajectory.

The growth is mainly due to the increase in operating profit caused by the increase in sales of the company's core products Pientzehuang series products and Pientzehuang brand Angong Niuhuang Pills. On the evening of July 13, Zhangzhou Pientzehuang Pharmaceutical Co., Ltd (hereinafter referred to as "Pientzehuang") released an announcement on the 2023 Half-Yearly Results Express. In the first half of this year, the total operating income of the company is 5.045 billion yuan (706.5 million), up 14.08% year-on-year, mainly due to the increase in sales income of the company, controlling subsidiary Xiamen Pientzehuang Hongren Pharmaceutical Company Limited (consolidated), controlling subsidiary Fujian Pientzehuang Health Food Company Limited and controlling subsidiary Longhui Pharmaceutical Company Limited to strengthen market planning and expand sales channels. (Credit: from Pientzehuang Official) The operating profit of the Company increases by 16.08% year-on-year to 1.855 billion yuan ($259.8 million). The total profit is 1.854 billion yuan ($259.6 million), up 16.02% year-on-year. The net profit attributable to shareholders of the listed company increases by 16.43% year-on-year to 1.53 billion yuan ($214.3 million). The net profit attributable to shareholders of the listed company after deduction of non-recurring gains and losses increases by 18.82% year-on-year and basic earnings per share increases by 16.51% year-on-year. The aforesaid growth is mainly attributable to the increase in operating profit due to the increase in sales of the core products of Pientzehuang series products and Pientzehuang brand Angong Niuhuang Pills. Public information shows that the cosmetic business of Pientzehuang includes several brands such as "Pientzehuang" and "Empress", among which the "Queen" brand has launched a high-end upgrade of the brand to create a light luxury herbal skincare brand. Among them, "Queen" has initiated a high-end upgrade of its brand to create a light luxury herbal skincare brand. In addition, its daily chemical business also includes Zhangzhou Pientzehuang Shanghai Jahwa Oral Care Co., Ltd, a holding subsidiary of the company, covering the categories of toothpaste and mouthwash.

Although both prices and volumes of the company's products have declined significantly, BASF expects that global demand may all pick up in the second half of 2023. On July 13, BASF released an announcement to lower the guidance of the full-year sales and EBIT before special items. According to preliminary estimates, the company's second-quarter EBIT before special items of 1 billion euros ($1.11 billion), a sharp decline of 57%, but basically in line with analysts' expectations (Vara: €10.18 million). The second-quarter sales expected to 17.3 billion euros ($19.3 billion), analysts expected 19.355 billion euros ($21.6 billion). The reason for the weaker-than-expected second-quarter results is that the company's product prices and volumes both fell significantly. BASF said it would lower its full-year earnings guidance. EBIT before special items for the full year is expected to be 4-4.4 billion euros ($4.5 billion-$4.9 billion), while the company had expected 4.8-5.4 billion euros ($5.4 billion-$6 billion). Meanwhile, full-year sales are expected to be €73 billion-€76 billion ($81.4 billion-$84.7 billion), compared to the company's original estimate of €84 billion-€87 billion ($93.6 billion- $97 billion). In contrast, in the 2022 financial results, BASF Group EBIT before special items were €6.9 billion ($7.7 billion), with full-year sales of €87.3 billion ($97.3 billion). BASF expects that in the second half of 2023, global demand may all pick up. It is reported that the BASF Group's products are categorized into six major areas: chemicals, materials, industrial solutions, surface treatment technologies, nutrition and care, and agricultural solutions. Among them, cosmetic raw materials related business belongs to the field of chemicals, the core research direction is mainly in the sunscreen and active ingredients and surfactants, and its personal care product line includes almost all the raw material categories of personal care products. In the Chinese market, head cosmetic and personal care companies such as Shanghai Jahwa, Uniasia Technology and LAF are BASF's customers. Not only that, BASF also continues to introduce efficacy ingredients in China that are tailored to the needs of Chinese consumers and with Chinese characteristics.

Retail sales of cosmetics totaled 45.1 billion yuan ($6.3 billion) in June, up 4.8% year-on-year. In the first half of the year, retail sales of cosmetics totaled 207.1 billion yuan ($28.9 billion), up 8.6% year-on-year. Today (July 17), the National Bureau of Statistics (NBS) released retail sales data of consumer goods from January to June 2023. In June, total retail sales of consumer goods was 399.51 billion yuan ($55.8 billion), up 3.1% year-on-year. In the first half of the year, total retail sales of consumer goods was 2.28 trillion yuan ($318.3 billion), up 8.3% year-on-year. (Credit: from the National Bureau of Statistics) The NBS stated that in the first half of the year, as the economy and society returned to normalized operation in full, the macro policy has shown the effect of force, the national economy rebounded and improved, and high-quality development has been steadily advancing. However, we should also see that the world's political and economic situation is complex, the domestic economy continues to recover the foundation of development is still not solid. Specifically, the total retail sales of cosmetic products in June amounted to 45.1 billion yuan ($6.3 billion), up 4.8% year-on-year. The total retail sales of cosmetic products in the first half of the year amounted to 207.1 billion yuan ($28.9 billion), up 8.6% year-on-year. (Credit: from the National Bureau of Statistics) Throughout cosmetic retail data in June of previous years, the total retail sales of cosmetics in June this year was the highest in years. But the growth rate was a record low of 4.8%. The highest year was June 2019, with a year-on-year growth of 22.5%. (Credit: National Bureau of Statistics) From the beginning of this year, from January to June, although the growth rate is not high, but the overall trend is still positive growth, the lowest growth rate is January-February this year, only 3.8%, the highest growth rate is April, 24.3%. (Credit: National Bureau of Statistics) For the data of Customs import, in June, China's beauty cosmetics and toiletries imported 30359.7 tons, the import amount of 9.29 billion yuan ($1.3 billion). The first half of the cumulative imports of 182,213.6 tons, a year-on-year decline of 10.7%, the amount of imports of 66.19 billion yuan ($9.2 billion), a year-on-year decline of 8.7%. On the total overall data point of view, on the one hand, June is the time when the Chinese mid-year shopping promotion 618 was booming. From the recent public financial preview of a number of companies, in the first half of this year, the industry back to normal and has begun to steadily rebound. But some companies turn a loss into a profit. On the other hand, the growth rates in June of recent years have repeatedly hit record lows, the consumer market tends to be rational and conservative.

In the first half of this year, the company's foreign investment of 381 million yuan ($53.3 million), compared with 124 million yuan ($17.3 million) in the same period last year, a change of 205.61%. On the evening of July 27, the S’Young released 2023 half-year report. According to the financial report, the company realized operating income of 2.29 billion yuan ($320.1 million) in the half-year of 2023, an increase of 4% year-on-year. The net profit attributive to the parent company is 142 million yuan ($19.6 million), an increase of 72.02% year-on-year. The deduction of non-net profit is 147 million yuan ($20.6 million), an increase of 101.82% year-on-year. (Credit: from financial report of S'Young) For the substantial increase in net profit, S’Young said that it is mainly due to the company's multi-level brand matrix further improve, product structure continued to optimize, cost control effect is remarkable. At the same time, the company's product structure improvement to enhance the level of gross profit, profitability enhancement, the operating situation is positive to the good. During the reporting period, S'Young was mainly engaged in the research and development, production and sales of cosmetics, and its brands mainly included "UNIFON", "EVIDENS DE BEAUTÉ", "BIGDROP", "MIHOO", etc. Its product categories covered masks, lotion, creams, color cosmetics, personal care and cleaning and others. In terms of products, the main business of S’Young is the mask and lotion, toner, cream. Among them, the mask revenue in the first half of this year recorded 454 million yuan ($63.5 million), basically the same as the same period last year, but the cost of year-on-year decline of 15.34%. The revenue of lotion, toner and cream was 1.715 billion yuan ($239.7 million), up 4.53% year-on-year. From the channel point of view, the company to online e-commerce channel sales. Among them, the revenue of the third-party platform accounted for 79.84% of the operating revenue in the first half of this year, recording 1.829 billion yuan, down 4.56% year-on-year. The revenue of the self-operated platform accounted for 8.13% of the total revenue, recording 186 million yuan ($26 million), a slight increase of 1.47% year-on-year. It is worth noting that during the reporting period, the investment amount of S'Young increased significantly. In the first half of this year, the company's foreign investment of 381 million yuan, compared with 124 million in the same period last year, a change of 205.61%. The investment amount is mainly used for the S'Young intelligent manufacturing base and S'Young headquarters base project. Opportunity and risk coexist. In the financial report, S'Young from five aspects of the company's current risk analysis, and said that it will start from the supply chain, research and development, customers, investment and market to further improve the company's core competitiveness.

Asia-Pacific accounted for 14% of the company's total net sales in the second quarter, down 4.5% year-over-year, with organic sales up 1%. Despite the sales decline, Asia-Pacific operating profit was up 3%. Today (July 28), Colgate announced its 2023Q2 financial report. It showed that Colgate's Q2 net sales grew to $4.822 billion, up 7.5% year-over-year, while operating profit was $974 million, up 10% year-over-year. Colgate said the Colgate brand continues to be a leader in the toothpaste segment, with a global market share of 40.5% as of today, and a market share of 30.4% in the manual toothbrush segment. Specifically, Asia-Pacific accounted for 14% of the company's total net sales in the second quarter, down 4.5% year-over-year, with organic sales up 1%. Despite the sales decline, Asia-Pacific operating profit was up 3%, recording $169 million accounting for 25.5% of net sales. Colgate said the improvement in operating profit was due to cost savings from the company's funding-the-growth initiatives, which reduces advertising and improves pricing, but was partially offset by sharp increases in raw material and packaging costs. (Credit: from Colgate's financial report) The business in Latin America accounted for 24% of the company sales in the second quarter. The operating profit was up 38% to $363 million and accounted for 30.8% of net sales. Latin America led all markets in terms of profit, sales and share, with a clear growth trend. (Credit: from Colgate financial results) Home Care and Personal Care organic sales growth in North America was offset by lower Oral organic sales, but operating profit improved, primarily due to improved product pricing and cost savings from some of the Company's initiatives. The operating profit in Q2 in the region was $227 million, up 16%. In addition, sales in the Europe region, Africa/Eurasia and Hills Pet Nutrition accounted for 14%, 6% and 22% of the company sales, respectively. Noel Wallace, Chairman, President and Chief Executive Officer, Colgate, said, "We are very pleased to deliver another quarter of growth and profitability improvement. The strong performance of the quarter and first half results also reassures us that our strategy is on the right track and that we will continue to maintain momentum to achieve our 2023 financial goals and create value for our stakeholders." Based on the financial report, Colgate expects future net sales to increase 5%-8%, with projected organic sales growth of 5%-7%.

Growth in the super-premium SK-II and higher product prices drove the skin and personal care business category. This evening (July 28), Procter & Gamble (P&G) reported its financial report of FY2023 (July 1, 2022 - June 30, 2023) and fourth quarter results. For FY2023, P&G achieved net sales of $82.006 billion, an increase of 2% from the prior year. Its organic sales, which exclude the impact of foreign exchange, acquisitions, and divestitures, increased 7%. Diluted net income per share was $5.90, up 2% from the prior year. For the fourth quarter of the current fiscal year (April-June 2023), P&G net sales were $20.553 billion, an increase of 5% from the prior year. Organic sales excluding the impact of foreign exchange, acquisitions and divestitures grew 8%. (Credit: from P&G's financial report) In response, Jon Moeller, Chairman of the Board, President and Chief Executive Officer, P&G, said that the fourth quarter of FY2023 capped off a strong fiscal year. The team exceeded expectations at a time when the operating environment remains difficult, even though the Group's costs remain high. Looking ahead to FY2024, the Group will continue to drive sustainable sales growth. Looking at the business segments, in FY2023, net sales of the Beauty segment, which includes brands such as SK-II, OLAY, Pantene, and Head & Shoulders, amounted to $15.008 billion, up 2% year-on-year, and organic sales increased 11% year-on-year. Growth in the super-premium SK-II and higher product prices drove the skin and personal care business category up more than tenfold compared to the previous year, which was impacted by the outbreak. (Credit: From P&G's financial report) As P&G's largest business segment, the Fabric & Home Care segment reported sales of $28.371 billion in fiscal year 2023, with organic sales up 8% year-on-year. Among them, the Fabric & Home Care segment achieved mid-single-digit growth driven by higher prices and an aggressive product mix, but part of the growth was offset by a decline in sales in Greater China. Its Home Care brands saw double-digit organic sales growth, but part of the growth was likewise offset by market softness. In addition, on an organic sales basis, P&G Grooming segment sales increased 8% to $6.419 billion, thanks to higher prices, which partially offset volume declines caused by trade disruptions in Europe. Baby, Feminine and Family Care grew 9% to $20.217 billion, with sales in the Baby category achieved high single-digit growth and the Health Care segment grew 5% year-on-year to $11.226 billion. For fiscal year 2024, P&G expects total sales for the year to grow 3% to 4% year-over-year, with foreign exchange expected to adversely affect overall sales growth by about 1%. Its organic sales growth is in the range of 4% to 5%.

Hermes gained strong momentum in Greater China and throughout the region. Hermes, the French luxury goods manufacturer, reported strong financial results in its latest report. The company's consolidated revenue in the first half of 2023 amounted to €6,698 million, representing a 25% increase at constant exchange rates and a 22% increase at current exchange rates compared to the same period in 2022. The recurring operating income reached €2,947 million, which accounts for 44% of sales, while the net income (group share) was €2,226 million, representing 33% of sales. In the second quarter of 2023, sales reached €3,317 million, reflecting a 28% increase at constant exchange rates and a 22% increase at current exchange rates, with strong momentum across all business lines and regions. The Perfume and Beauty division continued to grow, up 10% year on year, with the launch of a new Eau de toilette, Un Jardin à Cythère. Hermès launched a new limited edition of Rouge Hermès ahead of the arrival this autumn of the fifth chapter of Beauty around the eyes. In Asia, excluding Japan, sales increased by 28%, with strong momentum in Greater China and throughout the region. The company's second quarter benefited from a favorable comparison basis year on year, and the Peninsula store in Beijing reopened in April after renovation and extension. Axel Dumas, Executive Chairman of Hermès, said: “The 2023 first half results reflect the strength of the pillars of the artisanal model of the house: quality of materials, exceptional know-how and abundant creativity. To support this growth, we continue to invest in our production capacities, in the expansion of our network, while accelerating job creation and training in all of the group’s métiers.”