Watsons, L’Oréal and Alibaba take the brunt of China’s flagging demand

Featured image of the article Watsons, L’Oréal and Alibaba take the brunt of China’s flagging demand

An article by Sophie Baqué

Publication

23 October 2024 à 19h36

Updated on 28 October 2024 à 17h07

Reading time

2 minutes

Publication: 23 October 2024 à 19h36, Updated on 28 October 2024 à 17h07

Reading time: 2 minutes

Share
Copy link Share on LinkedIn Share on Bluesky Share on Facebook Share on WhatsApp
Add to reading list Remove from reading list
Against a backdrop of slowing consumer demand in China, international beauty and luxury retailers are adopting a cautious expansion approach.

An article by Sophie Baqué

Publication

23 October 2024 à 19h36

Updated on 28 October 2024 à 17h07

Reading time

2 minutes

Publication: 23 October 2024 à 19h36, Updated on 28 October 2024 à 17h07

Reading time: 2 minutes

Share
Copy link Share on LinkedIn Share on Bluesky Share on Facebook Share on WhatsApp
Add to reading list Remove from reading list
Enjoy this article for free while you’re in your trial period
You have access to our content for 15 days
Explore the mind Retail subscription

China‘s beauty sector is in trouble. While Watsons saw sales fall by 23% in China in the first half of 2024, for L’Oréal the downturn accelerated in Q3 2024. Sales fell by 6.5% in the North Asia region to €1.95 billion. “In mainland China, the beauty market, which was already in decline in Q2, continued to contract, due in particular to the low level of consumer confidence”, said the group. While its Aesop brand is continuing to expand with new stores in Hong Kong (Langham Place) and Macau...

Do you have information to share with us?
Contact us
Article authors
Featured image of the article Sophie Baqué
Sophie Baqué
Featured image of the article Sophie Baqué
Our other services
Research
Conducting customized studies: benchmarks, overviews, personalized newsletters, white label content.
See more
Training courses
Our training courses & masterclasses: short formats for management, executive coaching, and skills development for junior profiles.
See more
Events
Our networking activities: half-day conferences dedicated to industry issues and open to the entire ecosystem.
See more
What you absolutely must read this week
The essential content of the week selected by the editorial team.
See all
Shoprite adopts Yoobic solution for 3,600 stores and 160,000 employees
As announced in April in mind Retail, the African grocery retailer Shoprite has confirmed the rollout of the Yoobic application to optimise staff task management and anomaly detection in stores...
29 October 2025
Faced with debt and declining sales, Fossil files for bankruptcy
Competition from Apple and Samsung in the smartwatch segment, collapsing sales, customs tariffs… Cornered with a debt of US$179 million, Fossil has filed several bankruptcy petitions in the U.S.A...
29 October 2025
EU: Omnibus bill stalled in Parliament
On October 22, MEPs rejected by a narrow majority the negotiating mandate that would have allowed trilogue negotiations to begin on the omnibus directive watering down the CSRD and duty of care...
27 October 2025
Verizon, Starbucks, DoorDash and Grubhub impacted by AWS outage
On October 20, 2025, the Amazon Web Services cloud (Amazon Q2 2025 revenue: 168 billion dollars, up by 13.3%) was down for several hours before returning to normal. Numerous websites and...
27 October 2025
Most viewed articles of the month on mind Retail
What readers clicked on the most last month.
What readers clicked on the most last month.
1
Faced with debt and declining sales, Fossil files for bankruptcy
Competition from Apple and Samsung in the smartwatch segment, collapsing sales, customs tariffs… Cornered with a debt of US$179 million, Fossil has filed several bankruptcy petitions in the U.S.A...
29 October 2025
2
Lululemon, Ralph Lauren, Gap and Levi’s enter peak season with high stock levels
Faced with rising customs tariffs affecting US imports, several retailers have built up significant inventories. Over a year, the stocks of Gap, Levi’s, Lululemon, Ralph Lauren and Academy Sports...
27 October 2025
3
France and Italy urge Shein to reassess a business model
While Shein continues to spark controversy through partnerships with Pimkie and BHV department stores (SGM), Italy announced plans to introduce a tax on Asian e-commerce platforms. In France, the...
13 October 2025
4
Cyberattack: Muji, Loft and Sogo & Seibu e-commerce sites down in Japan
Since October 19, Japanese logistics company Askul (2024 revenue: 3.3 billion dollars, up by 2% year-on-year) has been the victim of a cyberattack, preventing it from managing e-commerce orders...
27 October 2025
5
Antoine Jouteau, Leboncoin : “We are launching our first warranty offer for multimedia products”
As Leboncoin prepares to celebrate a 20th anniversary in 2026, mind Retail interviewed Antoine Jouteau, the outgoing Chief Executive Officer. As Jacob Aqraou, Executive Chairman of the Board of...
13 October 2025
6
TikTok Shop and Temu strengthen logistics networks by signing with Royal Mail and La Poste
To accelerate European markets, TikTok Shop and Temu signed agreements with the leading postal operators in France and the United Kingdom. Here is a look at these strategic partnerships.
20 October 2025