Transformation in Beauty: LG Life and Health’s Bold Marketing Evolution

Young Won Park () and Paul Hong ()
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Young Won Park: Saitama University
Paul Hong: The University of Toledo

Chapter Chapter 9 in Cosmetics Marketing Strategy in the Era of the Digital Ecosystem, 2024, pp 161-172 from Springer

Abstract: Abstract This chapter “Transformation in Beauty,” explores the dynamic evolution of LG Life and Health (LG H&H) in the global cosmetic industry, emphasizing its innovative strategies and growth. It traces LG H&H’s journey from its beginnings in 1947 as Lucky Chemical Industry, highlighting milestones like South Korea’s first tube toothpaste and the launch of key cosmetic brands. The narrative describes how LG H&H, under effective leadership, grew to dominate the domestic household goods market, venturing into various sectors and continuously innovating. The study illustrates LG H&H’s resilience in navigating market changes, including the COVID-19 pandemic, and its ability to maintain growth through strategic leadership transitions and market adaptations. It further delves into LG H&H’s branding and global expansion strategies, detailing its re-entry into the cosmetics market and the development of diverse cosmetic brands catering to different market segments. LG H&H’s approach to overcoming challenges in the Chinese market, its shift towards color cosmetics, and its strategic acquisition of the premium brand ‘Hince’ are highlighted. This move aims to capture the Japanese market and the MZ generation, demonstrating LG H&H’s adaptability and foresight. The discussion covers LG H&H’s unique digital marketing strategies, including its foray into NFTs with the ‘belif Universe’ collection and collaborations with influencers, showcasing the company’s innovative approach to engaging the digital-savvy younger generation. The narrative concludes with a look at LG H&H’s future strategies, focusing on improving profitability, restructuring operations, and exploring new markets and digital trends, positioning it for sustained growth and market leadership.

Date: 2024
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DOI: 10.1007/978-981-97-3674-4_9

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