China's Beauty Industry Online Sales Drop 8% YoY in Q2, Jefferies Says

MT Newswires Live2024-07-24

Online sales for China's beauty industry decreased 8% year over year in Q2, Jefferies said in a research note published on Tuesday.

The skincare segment dropped 11% while cosmetics expanded 2%, according to the equity research firm's online retail tracker, which gathered data from the Tmall and Taobao, JD and Douyin platforms.

Among brands, China-based Proya Cosmetics (SHA:603605) posted the largest growth in the period at 40%, while L'Oreal also increased 5%.

Shiseido (TYO:4911) dropped 12%, while EstÃ©e Lauder and Beiersdorf declined 4% and 1%, respectively.

Price (RMB): Â¥88.23, Change: Â¥-2.96, Percent Change: -3.25%

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