On October 16, the Korea Financial Supervision Institute's electronic publicity system showed that, on the basis of December last year, the current net loss of a Chinese and Shanghai legal person in South Korea's cosmetics brand natural park amounted to 2.044 billion won, while that of Beijing's legal person was 1.734 billion won in the current period. The magic forest, which was formally incorporated in China in April 2015, also suffered substantial losses. Based on December last year, Magic Forest Qingdao Co., Ltd. posted a net loss of 187 million won for the current period, and 729 million won for 2016 and 1.098 billion won for 2017. ABLE-CNC, a Beijing-based legal entity with a well-known brand, earned more than 3.4 billion won in 2015, but its profits have narrowed in recent years, to just 348 million won in December.
This downward trend is also reflected in the number of Korean makeup counter changes in China. Nature Paradise has operated more than 70 counters in China, leaving only 58. Magic Forest counters have also been reduced from 70 to more than 30. People associated with Nature Park said that more and more Chinese consumers are buying cosmetics through the Internet. After the number of offline counters is reduced, they will concentrate on building online distribution channels.
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