After Indoor Mask Mandate Lifted... Cosmetic Prices Rise One After Another

Kiehl's Major Product Prices Increase Up to 13.3% from the 1st
Est?e Lauder, Chanel Beauty and Others Raised Prices Last Month
Mid-Range Brands Missha, The Saem, It's Skin Also Join

As the indoor mask mandate changed to a recommendation, the demand for beauty products such as cosmetics is increasing. On the 16th, citizens visiting a department store in Seoul are looking at cosmetics. Photo by Jinhyung Kang aymsdream@

As the indoor mask mandate has been lifted, cosmetic consumption has surged, leading companies to consecutively raise prices.

According to the cosmetics industry on the 1st, Kiehl's will increase the prices of major products by up to 13.3% starting today.

The representative product, 'Ultra Facial Cream (50㎖),' will rise from 45,000 won to 49,000 won, an 8.8% increase, and the 'Calendula Flower Petal Toner (125㎖)' will go up from 22,000 won to 23,000 won, a 4.5% increase.

Kiehl's stated, "Due to the rise in raw material prices, labor costs, and logistics expenses, we have decided to increase the prices of some products."

Earlier, Est?e Lauder raised the prices of its best-selling serums by 4% to up to 11% depending on the volume starting last month.

In the same month, Dior Beauty and Tom Ford Beauty increased the prices of cosmetics and perfumes by an average of 7-8%, while Chanel Beauty raised perfume prices by an average of 6.4% and cosmetics by 8% on average.

MAC and Benefit also implemented price hikes last month. The Brush No. 109 was raised from 50,000 won to 65,000 won, a 23% increase, and the color product 'Lusterglass Lipstick' is being sold at 38,000 won, up 5.3% from the previous 36,000 won. Benefit also increased product prices by up to 20%.

Domestic mid-range and road shop brands are also joining the price increase trend. Able C&C raised prices of 87 products from Missha, A'PIEU, and Celapy by up to 2,000 won in January.

In the same month, The Saem International (The Saem) of Korea Cosmetics raised prices of 46 products including concealers and eyebrows by up to 3,000 won, and It's Skin also increased the prices of Power 10 Formula LI Jelly Pad and Licorice Julen by 3,000 won.

The cosmetics industry unanimously states that these decisions are due to increases in raw material prices and logistics costs. An industry representative explained, "Due to the rise in raw material prices caused by the Russia-Ukraine war and exchange rate fluctuations, not only the cost price but also logistics and other incidental expenses have increased, leading to price hikes across the industry."