China focus: Latest developments in China’s booming beauty market

By Amanda Lim contact

- Last updated on GMT

[Getty Images]
[Getty Images]

Related tags: China

We round up the most recent developments in the exciting Chinese beauty market, featuring news from Gotha Cosmetics, A.S. Watson and more.

Gotha Cosmetics makes first major step into China as it sets sights on Asian expansion

Gotha Cosmetics has set up local production in China, where it believes it can tap into the post-COVID growth potential of the market​ while lessening the burden of rising shipping costs and delivery lead times.

It recently announced that it had acquired China’s iColor Group. The company knows that a local presence is crucial to better understand the local consumers and local brands.

An expansion in China has become increasingly important given the current state of shipping and transportation.

Europe takes the strain for A.S. Watson as China sales slow due to COVID-19 woes

A.S. Watson's health and beauty division grew up by 17% on the back of growth in Europe which helped to offset declines in China​ brought about by COVID-19.

Footfall declined to below pre-pandemic levels in China, where it was plagued by COVID-19 lockdowns in the second half of 2021.

Its online plus offline (O+O) strategy was crucial in “safeguarding” the company in China, especially in the fourth quarter (Q4).

This year, the company’s O+O sales accounted for half of the total sales in China and grew over 55% year on year.

Portuguese beauty brand Ignae eyeing China’s booming luxury niche beauty market

A skin care brand developed with ingredients sourced from the Azores archipelago believes its brand has huge potential in Asia’s high-end niche beauty​ segment.

The company first concentrated on establishing itself in the Western market but has no doubts that Asia is a “key market”.​ This year, a key focus would be China.

“China is exciting because it's such a huge market and the consumers are really hungry for newness, and they're also hungry for authentic stories and things associated with nature – just like the Korean island, Jeju, but Azores is a million times better,”​ said CEO Claire Chung.

China’s make-up market headed for slow yet sustainable growth – Yatsen CEO

Yatsen Holdings CEO believes the rapid growth of the colour cosmetics category in China is over and predicts the market will see slower yet more sustainable growth​ rates in the future.

The impact of the COVID-19 pandemic was still being felt in the make-up category.

Additionally, the softening of demand is further aggravated by the increasingly competitive landscape, which has also impacted the rate of new make-up brands in the market.

Despite the downsides, Yatsen believes it still holds potential and expects market penetration to continue growing.

Mix of peppers and turmeric as effective as minoxidil in treating hair loss – study

A team based in China has found that a concoction of capsaicin, piperine, and curcumin compounds was as effective as minoxidil in treating alopecia areata.

Researchers from the Shanghai General Hospital’s department of dermatology and the Shanghai Jiao Tong University School of medicine studied the efficacy of a treatment containing capsaicin, curcumin, and piperine against minoxidil, a conventional treatment for alopecia areata.

The researchers concluded that that “the curative effect of the mixed preparation in the treatment of alopecia areata was similar to that of minoxidil.”

 

 

Related news

Show more

Follow us

Products

View more

Webinars

Indie Pioneers Podcast

Indie Pioneers Podcast