In Thailand, beauty care is the bread and butter of the traditional Thai diet.
With all the fuss and hype surrounding the beauty industry, it’s no surprise that there’s been a lot of backlash over the years, from the likes of Kim Kardashian to anti-Beauty Council campaigns.
Now, beauty shops have been hit hard by the economic crisis, and the government is trying to regulate the industry to make sure the country doesn’t fall into the same traps as other developed countries.
According to a report published by the Associated Press, one of Thailand’s largest beauty companies, Likyo Beauty, is one of the most recent victims of the economic collapse.
In December, the government announced plans to limit cosmetics sales in Thailand to 3 percent of gross domestic product, the same percentage as the U.S. However, in a move that has left many consumers feeling disillusioned, the ban has not yet been implemented.
This week, the Thai beauty industry was hit with another shock, when it was revealed that Likyn Beauty had closed its doors, as the company was unable to survive the economic slump.
Likyn, which had been operating in Thailand for nearly 30 years, had struggled with the financial downturn since the financial crisis began in 2008.
Liky, which opened its doors in 1998, was known for its affordable and high-quality products that were sold in large shopping malls and other high-end stores.
The company was one of several in the country that focused on the health-conscious consumer.
According to its website, Liki was established to provide high-performing and affordable beauty services, providing the best products for the highest demand.
In November, the cosmetics industry suffered another blow when the government imposed a nationwide ban on the sale of cosmetics, saying that cosmetics can no longer be sold at stores that sell drugs.
The government also declared all cosmetic stores as illegal drug centers, forcing many businesses to close their doors.
In addition, there were reports that the government has been confiscating cosmetics, which resulted in a significant loss of revenue for the company.
The government’s crackdown on the cosmetics market has affected a large number of Thai beauty companies that cater to a wide range of demographics.
According to Likyliex, LIKYO Beauty lost almost 40 percent of its sales due to the ban.
In addition, LSK Beauty, which operates a salon in Bangkok, was also affected.
According to the AP, LK Beauty, the largest beauty company in Thailand, had been losing $50 million a month, which was almost three times the amount it had earned in the past five years.
The LIKYLIEX report noted that the total losses to LIKYA Beauty exceeded $50,000.
LIKYEX is still struggling to survive in Thailand due to low sales and the ban on cosmetics sales, but its beauty customers have not forgotten about the beauty company.
According the AP report, Lok Phean, owner of LIKYN Beauty, told the AP that the company has been hit with a lot more losses than LIKYYO Beauty due to an inability to survive.
“The business of Likyoniex is not going to survive for a long time, especially as we cannot go to the stores anymore.
If we had a bigger business and we could go there, we would have started making money,” he said.
“I have a big heart for our customers.
I want to see my customers come here and spend more money.”