International Companies 

• SK-II, an international high-end skin care brand, opened the world’s first duty-free flagship store in Sanya International Duty-Free Shopping Complex in Hainan, andopened the new SK-II LXP pop-up store for a limited time, trying to create anew landmark of Hainan tourism retail experience.

• Cosmax China signed a cooperation agreement with Professor Li Wei of Huashan Hospital Affiliated to Fudan University and Zero One Life for the “Research on Sensitive Skin and Skin Micro ecology in China” project. It is reported that the cooperation will focus on the “skin micro-ecology” and deeply integrate innovative research, precision medicine and personalized skincare.

Ingredients 

• PHOEBEHUI stem/root oil of Jinsinan Cosmetics Co., Ltd. completed the record of new raw materials, and the record number is ” 20240071″. At present, the technical requirements have not been published.

• Thefirst new raw materials filed by Shanghai Jahwa and Nox Bellcow are Tremella aurantialba fruit body extract and pentapeptide-48, respectively, with the filing numbers of “20240073” and “20240072”.

Trends and Market

• In the third quarter of 2024, the newly settled brands increased by 70% from the previous quarter, of which, the most entered brands in September, an increaseof 239% from August. In the first three quarters, more than 1,700 overseas merchants opened their first stores in China on Tmall Global. From the category point of view, fashion clothing, pure beauty, health care and other categoriesof merchants settled in the most, becoming the top 5 hot track for brand merchants to open stores before Tmall Double 11.

• Datashows that in the past year (2023/10/1-2024/9/30), the online GMV of hand care reached 3.29 billion yuan, an increase of 4.82%. Among them, Taobao Tmallmarket share accounted for 67.1%; Tiktok e-commerce market share accounted for 32.9%, an increase of 53.1%.