The Japanese cosmetics giant, Kosé Corporation, announced its first-quarter results for 2024. Sales increased 13.8% to $558.58 million (77.58 billion yen), and profit attributable to the parent company surged 78.1% to $49.99 million (6.94 billion yen). Breaking it down by department, the cosmetics division saw an 11.2% rise in sales to $447.58 million (62.164 billion yen), while the beauty division soared by 25.9% to $106.62 million (14.80 billion yen). Geographically, sales in the Japanese market grew by 18.2% to $351.36 million (48.8 billion yen), and North American market sales skyrocketed by 30.5% to $121.39 million (16.86 billion yen). However, sales in the Asian market plummeted by 23.7% to $69.50 million (9.65 billion yen). Notably, Kose ended operations of its Tmall flagship store in China last month after over 14 years, indicating a reevaluation and refocusing of its business scale and development priorities in China.
Kosé Corp’s Q1 sales in Asia plummet
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