As of October 2019, it had expanded to 243 stores in 76 cities across China. After establishing its China offices in 2004, it opened its first store in Shanghai in 2005. Sephora has over 1,300 stores globally and enjoys good business conditions in China. Unlike Watsons, LVMH-owned Sephora has gained momentum. But this formula soon ran its course as younger customers lost interest, which was reflected in Watsons’ 20 sales seeing negative growth. Private label sales made up 20% of Watsons’ total sales in 2015 - Watsons had imitated the best-selling products of other brands and sold them cheaper as private beauty brands. The retailer’s stable of 17 private beauty brands includes the Watsons label as well as those jointly developed with other companies. The health and beauty giant opened 3,800 stores in mainland China as of November 2019, according to its website. Hong Kong retailer Watsons owns the largest number of stores among China’s cosmetics retail chains. Watsons has the numbers, Sephora has the profit ratio Some channels are growing steadily at a similar rate to e-commerce - and these are cosmetics retailer chains. But it’s not yet reached the point where brick-and-mortar store channels are seeing sluggish sales. We look at the principal players in China’s market and their private brand strategies, even as coronavirus fears hang over retail businesses.Į-commerce sales in China’s beauty market are strengthening. Each retailer is putting a lot of effort into their private brands. With Watsons, Sephora and domestic companies all crowding China’s cosmetics market, a rivalry among beauty retail chains is playing out.
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