Cosmetics giants have accelerated their investments and development for the Chinese market in 2022, including new outlets and building innovation centres. We consider the main strategies.
With 60% of consumers spending between €28 and €140 per month in 2021 according to Business France, the beauty market in China is very attractive. According to Euromonitor, this will grow by 5% to reach US$98 billion in 2023.
This is a challenge that international high-end brands have long understood. In 2022, the top five high-end cosmetic brands in terms of sales growth on Tmall, Taobao and Douyin combined were Chanel, Guerlain, Sisley, La Mer and Helena Rubinstein. Last year, Charlotte Tilbur
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