Premium Beauty and Personal Care in China

PROSPECTS

Premium beauty and personal care maintains dynamism

Premium beauty and personal care maintained robust growth in 2018, thanks to the ongoing improvement of living standards supported by higher levels of disposable income among local consumers. The premiumisation of demand is also being backed up by an increasingly information-rich digital environment, with social media, in particular, contributing to ever more sophisticated awareness of both imported and domestic beauty and personal care brands.

Premiumisation having an impact across colour cosmetics categories

Among overall premium beauty and personal care, colour cosmetics saw particularly strong value growth in 2018. During the review period, a number of premium colour cosmetics categories benefited from the upmarket shift in demand.

Manufacturers embracing new retailing models

In an environment increasingly influenced by digital media, manufacturers are embracing new, hi-tech modes of retailing. Shiseido Group, for example, debuted “a new epoch making retail model” at the 23rd China Beauty Expo in 2018.

COMPETITIVE LANDSCAPE

L'Oréal China retains the lead in 2018

L'Oréal China remained the leading player in premium beauty and personal care in 2018, thanks to the wide-ranging strength of its brand portfolio, which includes Lancôme, Yves Saint Laurent, Kiehl's, La Roche-Posay and Giorgio Armani. The luxury segment has seen a strong performance in Asia Pacific, and especially in China, in recent years and maintained strong value growth in the final year of the review period.

Estée Lauder continues to gain share in the premium market

Estée Lauder (Shanghai) Commercial Co Ltd maintained the runner-up position in premium beauty and personal care, gaining value share for the second year running. Estée Lauder’s premium portfolio, which includes its eponymous brand, as well as La Mer, Mac, Origins, Jo Malone London and Tom Ford, has benefited from the company’s extremely strong online performance and commitment to digital marketing, as well as its investment in product research and development.

P&G sees dynamism in skin care

Procter & Gamble was the fastest-growing major player in premium beauty and personal care in 2018 thanks to the dynamism of its SK-II skin care brand and its variant targeted at men. The brand has benefited from the successful #changedestiny campaign, which addresses gender discrimination.

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