Retail sales of cosmetics in China grew 16.5 percent to reach 107.7 billion yuan ($17.3 billion) in the first 10 months of 2012, according to data from the country’s National Bureau of Statistics. This shows that China’s cosmetics market is still growing despite the decline in cosmetics imports revealed by the China Luxury Report 2012. Also, the market’s leading international companies, such as Estee Lauder Companies Inc., Mary Kay Inc., and Shiseido Group, have announced significant expansion plans in the country. Euromonitor International Ltd.’s Beauty and Personal Care in China 2012 report, which looks at multinationals operating in the China cosmetics market, showed Estee Lauder has launched Osiao, a brand designed for Chinese consumers.
"Cosmetics giants brush off any talk of slump in China", China Daily, November 24, 2012
Cosmetics imports in China dropped 13 percent, pushed down by the economic slowdown in the country, according to the China Luxury Report 2012. Data from the General Administration of Customs of China revealed import value of cosmetics also declined 14 percent. While other luxury categories, such as yachts and high-end leather bags, posted impressive growth rates, imported cosmetics and fragrances posted compound annual growth rates of -19 percent and -28 percent, respectively, since 2006. Clinique announced price cuts for its skincare products, including Dramatically Different Moisturizing Lotion, its most popular product in China, to help drive sales.
"Tighter purses mean cosmetics market losing its gloss", China Daily European Edition, November 09, 2012
|
China Daily European Edition, November 23, 2012
Boston Consulting Group, November 14, 2012
The Daily Telegraph (London), November 14, 2012
PepsiCo, November 13, 2012
|