SEP 11-12, 2024

2023 Beauty Insights-13th Edition

On  November 24, China foreign ministry spokesman Mao Ning announced that in order to promote  higher quality development between China and foreign countries, China has decided to implement visa-free policy for the following six countries including France, Germany, Italy, Netherlands, Spain, and Malaysia. From December 1, 2023 to November 30, 2024, ordinary passport holders from the six countries above can come to China visa-free for business, tourism, visiting relatives and can stay in China for up to 15 days.

Launched in September 2023, TikTok Shop US is poised to disrupt the retailing market, especially in the beauty sector, where social media profoundly influences purchasing decisions, based on finding from Nielsen IQ.  In September, Health and Beauty products accounted for 85% of total TikTok shop sales in the US.

Recently,LVMH announced Ada Lien as the new CEO of its well-known beauty brand Fresh. Ada Lien joined Fresh in July, previously worked in Estee Lauder for 17 years. It can be seen that LVMH’s senior management has undergone frequent personnel changes this year, and most of the “new officials” have experience working at L ‘Oreal or Estee Lauder before.

L’Occitane en Provence and Albéa Tubes add a new milestone to their cooperation with the relaunch of 30ml shea butter hand cream best seller.  The all-plastic laminate and APR-certified Greenleaf solution with a multilayer sleeve in HDPE replaces the former Aluminum Barrier Laminate tube.  The new solution reduces the number of materials from 5 to 2 and the components from 3 to 2.

This year, the Luxe Pack Monaco show mirrored the luxury packaging industry’s efforts to operate a sustainable transformation, without compromising the consumer experience.  To reduce the environmental impact, the solutions showcased were all focused on the search for materials and solutions to make perfumes and cosmetics more environmentally friendly.

On November 20, Japanese beauty group POLA ORBIS announced that it will establish a new subsidiary, POLA ORBIS (Shanghai) Corporate Management Co., LTD., planned to be established in January 2024 and will be 100% owned by POLA Group. It will be POLA’s first overseas regional headquarter. POLA Group said that it will directly grasp the market changes in its regions through its subsidiaries from 2024, develop appropriate strategies for different regions, and further accelerate the group’s global expansion.

More and more beauty brands are now offering products in refillable form, but few have deployed the concept on a large scale. The Body Shop is a pioneer in the field, offering in-store refills of its shampoos and shower gels in dozens of countries, with a recent roll-out to include makeup. 

New York-based and female-founded brand Nest is partnering with the Fifth Avenue Association to scent Manhattan’s iconic Fifth Avenue for the holiday shopping season.  From November 20th – January 4th, lighted holiday tree displays along the sidewalks will scent the streets with Nest’s bestselling Holiday home fragrance, as residents and visitors alike shop and enjoy the sights from 46th Street up to 61st Street.

Coty has declared a stellar start to fiscal year 2024 with impressive Q1 results, exceeding growth projections. Achieving an 18% sales surge, the company reached 13 consecutive quarters surpassing expectations. The balanced growth approach, strong performance in prestige and consumer beauty sectors, and strategic geographical expansions have contributed to its success.

From October 2022 to September 2023, the GMV of oral care products on Tmall reached 9.622 billion yuan. Among the products, toothpaste contributed 58.4% of sales. In the past year, the market size of Douyin oral care has shown an upward trend, with the total GMV of the market reaching 2.5 billion to 5 billion yuan and Q3 GMV reaching 1 billion to 2.5 billion yuan, up 65.04% year on year, of which toothpaste, toothbrush/oral cleaning tools and mouthwash are the top three categories in the oral care market.