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Mar
2014

Cosmetics price adjustments

On January 1st 2013, import and export tariffs in general were adjusted by the government including those of cosmetics which decreased from 6.5% to 5%, however international brands then proceeded to increase their retail prices. In the first half of 2013, after SK-II had increased its prices by up to 80% for some of their products. Chanel, Dior and others also decided to increase theirs by 7% -10% due to the rising costs of raw materials, labour and other contributing factors. In June, Shiseido, L’Occitane, Clarins and a number of other cosmetic brands also set off a second round of price increases within their high-end product lines…

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