The rivalries between China’s stalwart and emerging e-commerce players are set to make the upcoming Singles’ Day intensely competitive in the world’s second-biggest beauty market.
After years of rapid growth, cosmetic companies have experienced a challenging time in China, with consumers adopting more cautious spending habits.
As the Singles’ Day, or 11.11, mega sales festival approaches, Chinese consumer confidence remains muted.
An Australia-based fragrance house specialising in luxury vegan and cruelty-free perfumes is setting its sights on Asia after landing a deal with Sephora.
Recreation Beauty was established in 2019 by former magazine editor Nedahl Stelio, who saw a gap in the market for ‘clean’ luxury perfumes.
The brand avoids ingredients such as nitromusks, polycyclic musks, as well as denatured alcohol. Instead, it uses a sugarcane-derived alcohol.
TikTok-favourite makeup brand Moira Beauty is looking to extend its presence in Asia to meet the makeup demands of Asia’s Generation Z beauty consumers.
The company views the Asian region as a key growth market for its large young Gen Z population and their growing appreciation for makeup.
“We feel that in Asia, young people especially are becoming more open to experimenting with colour. We’re seeing a lot of glitter and highlights, for example,” said Miriam Esquivel, marketing and brand partnerships, Moira Beauty.
Japanese cosmetic companies Shiseido, Kosé, and Pola Orbis have reported negative growth in China due to the impact of Japan’s decision to release treated radioactive water from Fukushima.
On August 24, Japan started the release of treated radioactive water from the Fukushima nuclear power plant's wreckage into the Pacific Ocean.
This polarising move prompted China to immediately ban all Japanese seafood imports. Meanwhile, the release of radioactive wastewater has had repercussions on the Japanese cosmetics sector.
Unilever's Indian subsidiary is committed to driving innovation in order to uncover potential opportunities within the nation's beauty and personal care market, says its CEO.
Rohit Jawa, CEO and managing director of Hindustan Unilever (HUL) highlighted the firm’s enthusiasm for its beauty and personal care business.
“We feel very excited about this category. This category has a virtuously strong growth rate, higher profit profile, where we have both the technology, R&D and brand assets… This is a very exciting space, and you should see more and more of our effort going in this direction.”
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