October 14, 2020 08:42
Sales of lipstick for women have plummeted as everyone is wearing face masks, but sales of lipstick for men -- the moisturizing kind -- are soaring.
According to health and beauty chain CJ Olive Young on Monday, sales of lip balm for men surged 67 percent from July 2019 to June this year.
Men started using more lipstick two years ago. "The market for men's color cosmetics has started to take off and sales of lip balm, which can be handy and easy to use for beginners, have surged," one industry insider said.
The size of the domestic market for men's cosmetics products is expected to reach W1.4 trillion this year, according to the source (US$1=W1,146).
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