IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-981-97-3674-4_9.html
   My bibliography  Save this book chapter

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

In: Cosmetics Marketing Strategy in the Era of the Digital Ecosystem

Author

Listed:
  • Young Won Park

    (Saitama University)

  • Paul Hong

    (The University of Toledo)

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.

Suggested Citation

  • Young Won Park & Paul Hong, 2024. "Transformation in Beauty: LG Life and Health’s Bold Marketing Evolution," Springer Books, in: Cosmetics Marketing Strategy in the Era of the Digital Ecosystem, chapter 0, pages 161-172, Springer.
    • Handle: RePEc:spr:sprchp:978-981-97-3674-4_9
    DOI: 10.1007/978-981-97-3674-4_9
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-981-97-3674-4_9. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.