Intensifying competition in the mail-order cosmetics and balm markets
First written in FY2020. 7 of 15 entries say "Worsened", first in FY2022-Q3. Latest entry: FY2026.
Premier Anti-Aging moved to the "Worse" side of this theme in 2022, 1 year after the typical company in this theme (2021).
The whole theme swung hardest in 2021: 3 of 8 companies on the "Worse" side.
4 other companies' latest entry also says "Restated".
- FY2026RestatedAnnual report
「However, a substantial portion of its sales depends on the DUO brand, centered on its flagship cleansing balm products. If the DUO brand loses customer support because of competitors launching new products, changes in consumer preferences, reputational damage or other factors, this could have a material impact on the Group's performance.」
We continue to identify dependence on DUO sales and competitive risks arising from the launch of competing products, changes in consumer preferences and reputational damage as major risks. - 2026-06-12RestatedEarnings
「Direct-sales revenue, where advertising efficiency for new customer acquisition has not improved, fell below the previous year's level.」
The company stated that competition for new customers and advertising-efficiency issues continue. - FY2026-H1RestatedAnnual report
「Competition in the all-in-one cosmetics market remains intense, but the "CANADEL" brand aims to evolve into a brand that customers can engage with more deeply and over a longer period.」
It explains that competition in the all-in-one cosmetics market remains intense. - FY2025WorsenedAnnual report
「However, a substantial portion of its sales depends on the DUO brand, centered on its flagship cleansing balm products. If the DUO brand loses customer support because of competitors launching new products, changes in consumer preferences, reputational damage or other factors, this could have a material impact on the Group's performance.」
It continues to explicitly identify intensifying competition and changes in consumer preferences as material performance risks linked to the concentration of sales in DUO. - FY2025-H1RestatedAnnual report
「Sales have continued to trend downward because the challenging competitive environment for new-customer acquisition has persisted and it will take more time for initiatives to reactivate existing customers through CRM measures to take effect.」
It explains that the challenging competitive environment surrounding new-customer acquisition has persisted and that the measures to reactivate existing customers are taking time to produce results. - FY2024-Q3WorsenedAnnual report
「However, sales declined in both direct-to-consumer and wholesale channels as the market-wide shift from balm to oil products continued and competition from lower-priced balm products intensified.」
The continued market shift from balm to oil products and intensifying competition from lower-priced balm products have led to lower direct-to-consumer and wholesale sales for DUO. - FY2024-Q2Competition persists, while the pace of sales decline slowsAnnual report
「Although the "DUO" brand remains the No. 1 cleansing brand by sales, it continues to struggle as the market-wide shift from balm to oil products persists and competition from lower-priced balm products intensifies.」
DUO continues to struggle amid the ongoing shift from balm to oil products and intensifying competition from lower-priced balm products. It states, however, that the pace of sales decline has begun to moderate. - FY2024-Q1WorsenedAnnual report
「However, sales declined in both direct-to-consumer and wholesale channels as the shift from balm to oil products continued across the cleansing market and the outflow of customers to lower-priced balm products persisted.」
The continued shift from balm to oil products and the outflow of customers to lower-priced products continued to weigh on DUO's direct-to-consumer and wholesale sales. - FY2023WorsenedAnnual report
「Sales declined in both direct-to-consumer and wholesale channels as the shift from balm to oil products continued across the cleansing market and the outflow of customers to lower-priced balm products showed no sign of stopping.」
The continued shift in customers from balm to oil products and the inflow of lower-priced lookalike products resulted in lower direct-to-consumer and wholesale sales for DUO. - FY2023-Q3WorsenedAnnual report
「Sales declined in both mail-order and wholesale channels, as competition in the cleansing market and the balm product category continued to intensify, while initiatives to acquire new customers aimed at further improving LTV failed to produce the expected results and new customer acquisition remained low.」
As intense competition persisted, new-customer acquisition initiatives failed to deliver the expected results, keeping acquisition at a low level and leading to lower direct-to-consumer and wholesale sales. - FY2023-Q1WorsenedAnnual report
「The "DUO" brand saw sales decline in both direct-to-consumer and wholesale channels, as the boom in the record-breaking hit "DUO The Cleansing Balm Black Repair" ran its course and competition in the cleansing market and balm category remained intense. Although sales across the cleansing market as a whole have been broadly flat, intensifying competition has led customers to shift from balm products to oils and gels. Within the balm category, DUO has continued to struggle as competitors have launched lower-priced lookalike products.」
Direct-to-consumer and wholesale sales of DUO both declined as the Black Repair boom ran its course, customers shifted from balm products to other formats, and competitors launched lower-priced lookalike products. - FY2022MaterialisedAnnual report
「The DUO brand faced intensifying competition as sales of the record-breaking hit DUO The Cleansing Balm Black Repair began to level off, while competing companies launched a succession of lower-priced balm products.」
The launch of lower-priced balm products by competing companies and the slowdown in the flagship product's momentum actually occurred, and the intensified competition was described in connection with the downward trend in DUO's sales. - FY2022-Q3WorsenedAnnual report
「The DUO brand faced intensifying competition as sales of the record-breaking hit DUO The Cleansing Balm Black Repair began to level off, while competing companies launched a succession of lower-priced balm products.」
As the momentum of the flagship product eased, competing companies launched a succession of lower-priced balm products, resulting in intensified competition. - FY2021RestatedAnnual report
「Recently, competing companies have been launching balm-type products one after another.」
The company continues to recognize intensifying competition among balm-type products and is working to retain customers by offering multiple product types. - FY2020First statedAnnual report
「Recently, competing companies have been launching balm-type products one after another.」
The company is working to retain customers by offering multiple types of cleansing balm.