The Canadian retailer aims to entice shoppers with brands from across the continent.

L’Oréal is doubling its stake in cosmetic injectables company Galderma to 20%, the company said, as it looks to expand in the fast-growing aesthetics market and support growth amid global headwinds. While some competitors retrench, L’Oréal is pursuing acquisitions in categories like fragrance and haircare with the strongest growth potential. L'Oréal's moves reflect the shifts in consumer beauty spending. Resilient demand for self-care, wellness, and premium products is fueling growth in fragrances and haircare, while K-beauty is gaining traction as consumers search for affordable and effective skincare products.

GenAI adoption in Asia-Pacific is outpacing the rest of the world. The region’s soft power is expanding quickly, highlighted by K-pop’s unstoppable global rise and China’s AI push bringing humanoid robots to daily life.

Demand for Korean beauty products is soaring, helping buoy industry sales even as growth slows. US shoppers spent $2 billion on K-beauty products in the 12 months ended July, up 37% YoY, per Nielsen data shared with Business Insider. The Hallyu wave shows no signs of ebbing. Korea’s rising cultural influence is being felt on everything from films to music to food, with global spending on Korean cultural exports expected to nearly double by 2030.

Ulta Beauty’s invite-only UB Marketplace is now open to shoppers on the retailer’s website and app. The offering will enable the retailer to offer shoppers a broader, more compelling array of products, particularly in emerging segments like fragrance, men's grooming, and K-beauty.

K-beauty demand is soaring: South Korea outpaced France as the top source of US cosmetics imports in 2024.