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

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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

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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

Add mind Retail to your sources
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

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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.

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Article authors
Featured image of the article Sophie Baqué
Sophie Baqué Chief Editor of mind Retail
Featured image of the article Sophie Baqué
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