Companies 

• According to the financial report, Miniso’s revenue in the first half of 2024 was 7.76 billion yuan, an increase of 25% over the same period last year. In the first half of 2024, Miniso added 455 new stores, including 189 stores in China and 266 overseas stores in the first half of the year.

• Recently, Apex of Skincare, Amore Pacific’s high luxury technology skincare brand, officially entered the Chinese mainland market and opened its first store in Shanghai Jingan Jiuguang Department Store.

• Shiseido China Information Center announced that Shiseido China and the China Agricultural University Nutrition and Health Research Institute have reached a strategic cooperation. The two parties will jointly build a “skin health joint laboratory”, focusing on the field of oral beauty, the mechanism of skin aging, oral conduct joint research on the screening off unfunctional ingredients for beauty, efficacy verification and product application to promote Shiseido’s development in emerging business areas.

Ingredients 

• Yunnan Botanee Biotechnology Group Co., Ltd. has completed the registration of new raw materials for “Minjiang Blue Snowflake Extract” (original national makeup number 20240063).

• Simpcare (Guangzhou) Biotechnology Co., Ltd. has completed the registration of new raw materials for “resveratrol oxide” (original registration number of Guozhuang: 20240062).

Trends and Market

• According to the latest report “Pure Beauty Consumers – China – 2024” released by Mintel, the overall usage rate of women’s facial skin care products declined in 2023, especially heavy users who use more than 9 products decreased sharply, while those who use 4-5 products has increased significantly. This reflects consumers’ pursuit of “simplified skin care” and is consistent with the concept of pure beauty.

• According to the “2024 China Silver Population Study” series of reports jointly released by Kantar and Fuxi Laboratories, the consumption potential of the elderly population is expected to reach from 40,690.7 billion to 69,174.2 billion yuan in 2050, accounting for 12.2%-20.7%. At present, the external beauty of “looking younger than their peers” is the main pursuit of young people with silver hair. They have a strong demand for anti-wrinkle, freckle removal and anti-aging on the face.