Chinese Luxury Goods Brands Grew Faster Than Foreign Counterparts, DTT's 2015 Report Shows

China's luxury goods companies grew 33.4 percent, significantly outpacing their foreign rivals, according to the “2015 Global Powers of Luxury Goods” report by Deloitte Touche Tohmatsu. Data from the report revealed similar companies in the United States grew 9.4 percent, while UK brands posted 11.1 percent during the period. Of the top 100 fastest-growing luxury-goods companies, seven came from Hong Kong and China, and accounted for as much as 11.3 percent of the total sales. Leading sellers of luxury goods include LVMH Moet Hennessy-Louis Vuitton from France, with $21.76 billion in sales, followed by Swiss company Compagnie Financiere Richemont in second place and The Estee Lauder Companies Inc. from the United States, in third.

"China luxury-goods firms growing fastest globally", Asia One, June 15, 2015

Kao Opens Shanghai Plant For Making Shampoo And Cosmetics Ingredients

Kao invested 5 billion yen to build a manufacturing plant in Shanghai, which will produce key ingredients for shampoo and cosmetics. Bringing Kao's chemical production plants in China to a total of three, the facility will produce ingredients aimed at the market for environment-friendly products. With a total production area of 83,000sq m, the factory will help Kao's product development efforts for the China market.

"Kao further invests in Shanghai market", Cosmetics Design , May 28, 2015

Estee Lauder Cuts Prices In China In Support Of Government's Efforts To Promote Local Consumption

Estee Lauder Cos. Inc. announced it will reduce prices of certain brands in China effective July 1, 2015. Made in response to China's decision to lower import duties on cosmetics and other products to help promote domestic spending, the repricing move covers some of the company's bestselling skincare products. Brands covered include Estee Lauder, Clinique, Origins, and Lab Series.

"Estee Lauder Cutting Prices in China", WWD.com, June 23, 2015

China's Lower Tariff Rates Fail To Boost Local Consumer Spending

China's decision to cut tariff rates is not likely to result in significantly lower prices for imported consumer goods, according to Reuters. Effective on June 1, 2015, the government's move aims to stimulate domestic consumption and boost economic growth. Accounting for more than half of China's GDP growth, private consumption in the country is a laggard compared with levels in other countries, such as the United States. Retail prices of imported goods in China are about 40 percent higher than those in other countries, prompting Chinese tourists to shop for such items when they travel abroad.

"China import tax cuts no remedy for retail slowdown", Reuters, May 31, 2015

China's Prestige Personal Care Buyers Buy Online, Study Reveals

In China, 68 percent of consumers buy prestige personal care products online, according to market research firm Bomoda. Data from the report “China Prestige Beauty Blueprint” revealed about 80 percent of consumers have bought beauty products from overseas; however, around 70 percent said they use local online stores. Also, the average buyer of prestige beauty products is 31.9 years old with annual household income at $72,540. Mostly women, these consumers have full-time job, married, and 51 percent of them living in Tier 1 cities, such as Shanghai, Beijing, and Guangzhou.

"Lancome, Estee Lauder among best known beauty brands in China: report", Luxury Daily, June 22, 2015

Unilever Launches Online Store On JD.com's E-commerce Platform

Unilever plans to launch a flagship store on China's online direct sales company JD.com, Inc.'s JD Worldwide e-commerce platform. Coinciding with JD.com's major anniversary sale, the launch of the flagship store will bring some of Unilever's global brands to Chinese consumers for the first time. Brands to be featured include Dove, Ponds, Vaseline, and Lux.

"Unilever Launches Flagship Store on JD.com's Cross-Border E-Commerce Platform", GLOBE NEWSWIRE , June 15, 2015