Penhaligon’s New Exhibition, BYD Reports Q4 Profit Growth and Omega’s Collaboration with Swatch

BYD Reports 73 Percent Q4 Profit Growth, Expands Global Presence

Chinese EV manufacturer BYD reported a 73.1 percent year-over-year increase in Q4 2024 net profit, reaching 15 billion yuan ($2.1 billion), driven by higher sales and competitive pricing. Full-year profit rose 34 percent to 40.3 billion yuan, with revenue up 29 percent. The company led China’s car market with 4.25 million vehicle sales and continues expanding globally, considering Germany for a third European plant. BYD also introduced a new EV technology platform and smart driving features at no extra cost.

Penhaligon’s Launches Eau So British Exhibition in Shanghai

Penhaligon’s is debuting the “Eau So British” exhibition in Shanghai during Fashion Week, highlighting its 155-year history, royal connections, and founder’s story. The exhibition features Chinese artist He Xian’s shadow puppetry interpretation of the brand’s first fragrance, Hammam Bouquet. Penhaligon’s has expanded in China with 22 retail locations and a strong online presence. The exhibition will be open to the public until April 6 before traveling to London in 2025, with a global tour planned for major Asia-Pacific cities.

L’Oréal Paris Announces Actress Zhou Ye as New Makeup Ambassador

L’Oréal Paris has officially named rising actress Zhou Ye as its new makeup ambassador. Known for her versatile roles and confident, unique style, Zhou Ye aligns with the brand’s philosophy. Zhou Ye’s modern flair and expressive personality have also made her a favorite in the fashion world, making her the perfect fit for L’Oréal’s brand image. Moving forward, she will bring her distinct style to the makeup world, exploring endless beauty possibilities with the brand.

Coty Sells Stake in Kim Kardashian’s Beauty Brand to Skims

Coty announced it will sell its 20 percent stake in Kim Kardashian’s beauty brand, Skkn, to her clothing company, Skims, consolidating the businesses under one brand. The sale proceeds will be used to reduce debt and invest in Coty’s broader brand portfolio. Coty has faced declining sales due to cautious consumer spending and weakness in Asia’s travel retail market. The company will continue its partnership with Kylie Cosmetics, while details of the transaction remain undisclosed.

Watsons Expands Retail Strategy with Community Stores and Lower-Tier City Growth

Watsons is accelerating its expansion in China with plans to open 500 new stores in this year, focusing on community-based retail and deeper penetration of lower-tier cities. The company aims to meet growing demand for instant retail services by introducing new community store models near residential areas, offering personalized services like quick beauty treatments. Additionally, Watsons plans to expand into 100 county-level markets, targeting the rapidly developing lower-tier markets with a diverse product range that includes international and local brands. This strategy aligns with changing consumer needs for convenience, service, and emotional engagement in the beauty retail sector.

Omega and Swatch Launch Mission to the Pink Moonphase MoonSwatch

Omega and Swatch have unveiled the Mission to the Pink Moonphase MoonSwatch, a limited-edition timepiece celebrating April’s Pink Moon. The watch features a pink Bioceramic case, a pink VELCRO strap, and a moon phase complication with two pink moons. A UV-reactive detail adds intrigue, while the black Bioceramic bezel includes a pulsometer for measuring heart rate. Priced at $310, it will be available exclusively at select Swatch stores starting April 1.

Lamborghini Achieves Record Revenue in 2024

Lamborghini reported a 16.2 percent year-on-year revenue increase in 2024, reaching a record €3.09 billion. Operating profit also hit a new high, rising 15.5 percent to €835 million, with a consistent operating margin of 27 percent. The company delivered 10,687 vehicles, a 5.7 percent increase, and expanded its workforce by 30 percent. Lamborghini’s product lineup saw significant updates with the launch of three new models, including the Revuelto, Urus SE, and Temerario. Additionally, the brand continues to invest heavily in innovation and sustainability.

Inoherb Experiences Second CEO Departure in a Year

Zhang Ge, CEO of Inoherb, a Chinese skincare brand, has recently stepped down from his position after just six months in the role. This marks the second CEO departure at Inoherb within a year. Notably, Zhang’s background is in the fast-moving consumer goods (FMCG) sector, with no prior experience in the cosmetics industry.