Lubrizol has extended its partnership with C-beauty major PROYA, underscoring its confidence in the growth potential of China’s local beauty manufacturers.
China’s beauty brands are increasingly competing with the global giants in the country’s mass segment, but the trend is not yet being seen in the prestige category, according to Coty.
Chinese cosmetics company Yatsen Holdings expects revenue will take longer to bounce back despite improved market conditions in the domestic beauty market.
The addition of a high-end homegrown C-beauty brand with a Gen Z following to its portfolio is precisely what L’Oréal needs to stay at the top of its game in the Asian market, says a leading market expert.
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.
Chinese cosmetics company Florasis is assessing opportunities in the US, Japan and South East Asia as it embarks on its mission to become a global beauty brand.
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.
International beauty companies are in danger of losing market share to China’s homegrown beauty brands that are more in tune with the needs and concerns of the varying demographics that make up the vast Chinese market, according to an industry analyst.
L’Oréal’s CEO has brushed off the hype surrounding the rise of China’s domestic beauty brands such as Perfect Diary, saying that while the competition is growing, he doesn’t see it as a threat.
German personal care multinational Beiersdorf believes China’s domestic beauty scene has global export potential, leading it to expand its NIVEA Accelerator program to help develop innovative beauty tech start-ups.
Rising consumer concern for safety and efficacy is carving out demand for herbal cosmetic ingredients in China’s cosmetics market, according to MNC Merck.
The Zhejiang government has published a document detailing plans develop its cosmetics development zone to boost its competitiveness among the international players.
Chinese beauty brands have more hurdles to overcome before taking the global stage, despite the rising prominence of homegrown beauty brands, according to one expert.
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