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

By Amanda Lim

- Last updated on GMT

The recent developments in the exciting Chinese beauty market, [Getty Images]
The recent developments in the exciting Chinese beauty market, [Getty Images]

Related tags China market trends Business

We round up the most recent developments in the exciting Chinese beauty market, featuring news from Yatsen, Kosé, Coty and more.

Yatsen hinges bets on Douyin and offline retail to ‘ease sales decline’ of Perfect Diary

Chinese cosmetics company Yatsen Holdings is moving to help flagship make-up brand Perfect Diary recover from its recent decline amid the sluggishness of the colour cosmetics market in China.

The firm was moving to improve the brand’s profitability and were looking at several ways to “ease sales decline”​ for the brand, including putting more focus into Douyin.

Furthermore, the company is aiming to expand Perfect Diary’s third-party distribution, targeting major offline beauty chains, said CEO Huang Jinfeng.

Kosé pushing forward with Decorté expansion in ‘worrisome’ China market

Japanese cosmetics company Kosé Corporation is pushing ahead with the expansion of its ‘high-prestige’ brand Decorté in China despite tough market conditions.

Speaking during the firm’s earnings conference, director and chief financial officer Shinichi Mochizuki said the firm was expecting tough times ahead in China.

Despite this, the company has plans to launch around 15 more Decorté counters in department stores as well as two more on the duty-free mecca of Hainan Island.

Coty counting on Gen Zs to drive fragrance growth in China

American multinational beauty company Coty Inc. is anticipating a ‘huge jump’ in fragrance consumption in China driven by Gen Z consumers.

Coty CEO Sue Y. Nabi estimated that the fragrance category in China accounted for 15% to 16% of the market, but was the fastest-growing category.

She anticipated that this consumption rush would be driven by younger beauty consumers, specifically the Gen Z and expressed her confidence in Coty’s wide fragrance portfolio and its ability to meet the multifaceted desires of the Gen Zs.

Celebrity endorsements increases purchase intent among China youth

Celebrity endorsements are playing a crucial role in the development of China’s green beauty space, according to a new study.
Data showed that a celebrity’s attractiveness, trustworthiness, and cause-fit had a significantly positive, albeit indirect, effect on the intention to purchase green cosmetics among young Chinese consumers.

It is believed that consumers’ attitude toward green products has a significant positive impact on purchasing intention.

EZZ Life eyes opportunity to grow business two-fold on the back of new beauty business

Australian healthcare company EZZ Life Science Holdings has entered the beauty and personal care space with a new hair care range which it hopes can help double its business in the next couple of years.

The company is particularly strong in China, where it has marketed its products through cross-border e-commerce platforms like Tmall and has recently debut an e-commerce store on Douyin.

It has also inked a new deal to add 9,000 new distribution points in China.

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