Estée Lauder CEO Fabrizio Freda believes the firm will see “long-term sustainable growth” in China, thanks to a rising middle class, a young demographic eager to spend on cosmetics and untapped opportunities in lower-tier cities.
One of the best ways of measuring future industry trends and innovation is a trip to in-cosmetics Global, an event that shines a light on what the next generation of products will look like. But this year, pinpointing something truly new was hard to do.
With China’s Cosmetic Supervision and Administration Regulation (CSAR) is expected to come into force by the end of the year, one expert drills down into the need-to-know points for firms operating in the country.
Collaborations between brands are the way forward for brands to win over Chinese millennial consumers, even if it means joining forces with the most unlikely partners, according to a local industry expert.