‘C-beauty’ brands such as Jala and Proya no longer ‘cheaper substitutes’, ready to rival likes of L’Oreal and Dior in China, Euromonitor says
- Chinese beauty brands, or ‘C-beauty’ brands, have seen their sales grow 51 per cent between 2017 and last year, outperforming the overall market’s 42 per cent growth
- It is time to tear off the ‘dupe’ label and target premiumisation, Euromonitor executive says
Chinese beauty brands, or “C-beauty” brands, have seen their sales grow 51 per cent between 2017 and last year, outperforming the overall beauty and personal-care market’s 42 per cent growth in the same period, according to the Euromonitor International China Beauty report, which was released last week.
These brands have the potential for longer life cycles and expansion beyond China, said Yang Hu, insight manager at Euromonitor.
“Consumers perceived C-beauty as the ‘cheaper substitute’ or ‘dupe’ for international brands,” Yang said. “Now, it’s time to tear off the ‘dupe’ label [and] target premiumisation.”
The findings are significant because China’s beauty and personal-care market was worth US$78.9 billion last year, with the skincare segment worth US$41 billion and colour cosmetics accounting for US$8.2 billion. C-beauty brands accounted for 28 per cent of retail sales among the top 20 brands sold in China last year, an increase from 14 per cent in 2017.
While international brands such as L’Oreal Paris, Estee Lauder, Yves Saint Laurent and Christian Dior dominate the market, personalisation and product development have allowed local brands to play catch-up.
