Colorray is showing strong performance. This is interpreted as being influenced by news that, following the discharge of contaminated water from Japan's Fukushima Daiichi Nuclear Power Plant into the ocean, consumers in China are boycotting Japanese cosmetics and seeking domestic or European products instead.
As of 10:01 AM on the 28th, Colorray is trading at 1,528 KRW, up 7.59% compared to the previous day.
According to industry sources, lists of Japanese cosmetics, childcare products, and food items have rapidly spread on Chinese social networking services (SNS). One Chinese netizen claimed, "Japanese cosmetics may be harmful to the human body," and suggested alternative products that could replace Japanese cosmetics.
State-run media have also been reporting on these consumer movements one after another. The Global Times, affiliated with the Communist Party's official newspaper People's Daily, introduced an interview with a citizen who said, "I have decided not to buy Japanese food and cosmetics for the time being. As an alternative, I plan to look for Chinese domestic products or European products."
Colorray is the leading company in China for pearl luster pigments used in cosmetics. Pearl luster pigments are the shimmering pearls commonly found in eyeshadows and similar products.
Additionally, Colorray has maintained a cooperative relationship for over 10 years with Intercos, a global OEM/ODM company for color cosmetics. Intercos produces and supplies products to 26 premium brands, including global top 30 brands such as L'Or?al, Est?e Lauder, and Armani, as well as Chinese color cosmetics brands like Perfect Diary, Huaxizi, and Maogeping.
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