MOSCOW, May 18, 2021 /PRNewswire/ -- Despite the devastation brought about by COVID-19 to the global cosmetics industry in 2020, the Asian market, especially the Chinese market, still demonstrated a rapidly growing trend. The Third China International Import Expo (CIIE) saw Shiseido releasing two of its major brands, i.e., "THE GINZA" and "BAUM". Following their steps was "EFFECTIM", which was also marketed globally for the first time. Cosmetics giant Natura &Co has been looking to expand itself in the Chinese market, and did just so in 2020 by registering two new companies therein in preparation for its Aesop and The Body Shop, having previously acquired Avon in May 2019. More on a similar note, Eternaleaf, a British light-luxury brand boasting long-term reputation in Europe and the United States, has officially entered the Chinese market in 2020 after achieving great success in Southeast Asian markets, such as Indonesia. Furthermore, Eternaleaf has also further staked its claim by partnering with Yong Qi, a Chinese beauty chain giant with 545 stores, as well as institutions like DERUIMA Health and Langyue Health, each of which runs dozens of high-end postpartum recovery centers.
Statistics show that China imported a wreath of beauty cosmetics and toiletries worth over US$20.2 billion in 2020, an increase of 29% over the previous year. This trend is indicative of the stage of rapid growth the market is in, as well as the keen fondness displayed hereto by so many renowned global brands.
