![]() ![]() With cute packaging and reasonably priced products, the series soon became a hit there. To better localize in the Southeast Asian market, the Chinese company cooperated with Sanrio, a company that designs, licenses and produces products focusing on the cute aspect of Japanese popular culture, to launch a series of products. Industry experts said for Chinese cosmetics brands, expanding their footprint in foreign markets is not an easy task, especially when Western market leaders like L'Oreal and LVMH are dominating the beauty market globally.įor the planned Southeast Asian market expansion, the biggest challenge for Perfect Diary is "localization", as consumers from various markets there have different religious beliefs and preferences. Sales revenue of the beauty and personal care market of Southeast Asia is expected to reach 304.8 billion yuan ($47.1 billion) in 2025, with a compound annual growth rate of 9.3 percent, which will rival that of the Chinese market. ![]() With the support of local e-commerce platforms such as Lazada and Shopee, the beauty and cosmetics industry has been growing at an unprecedented speed. "With their high acceptance of new beauty products, Chinese cosmetics brands will have a very good foundation in beefing up presence overseas," she said.Īccording to a report on the website of market research firm Mintel, Southeast Asia is considered a hot spot for the global cosmetics industry. Compared with the mature beauty markets in Europe and the United States, consumers from Southeast Asia have an unmet huge demand for beauty products," said Wang. "The very reason that we first set our foot in Southeast Asia is that we see broad development opportunities as well as geographic advantages from here. It also topped other foreign brands in the face powder category in the Philippines. The Guangzhou, Guangdong province-based company sells its products in several Southeast Asian markets, including Vietnam, Malaysia, Singapore and the Philippines, through Perfect Diary's website as well as via local e-commerce platforms such as Shopee.ĭespite being in the market for only a year, Perfect Diary is already ranked the largest vendor in color cosmetics on Shopee in Singapore and Vietnam, in terms of sales as at the end of May. The overseas market is considered another fresh driver of the company's long-term sustainable growth," said Maria Wang, head of the overseas market at Perfect Diary. "Going global is no doubt one of our important strategies for the future. Perfect Diary, a young Chinese brand that emerged from nowhere to become a cosmetics giant, is "putting on another makeup" on the Southeast Asian market, as domestic beauty companies look for global presence with their rising prowess in the domestic market. Ĭosmetics firm rides home success to build overseas presence for sustainable growth ![]() A woman passes a billboard advertising Perfect Diary's Small Stiletto Heel lipstick in Beijing on May 4. ![]()
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