Asian Beauty Titans' Transformation Path in China
2024-12-15
Overall, from January to September of this year, the total sales of the top ten global beauty companies reached 835.6 billion yuan, a year-on-year increase of 3%.
It is worth mentioning that among these 10 companies, 9 companies achieved sales growth to varying degrees in the first three quarters, while Procter & Gamble's beauty segment experienced a slight decline in sales.
Looking at the growth rate, the overall trend has slowed down. Although sales have increased, many companies' net profits from their cosmetic business have raised red flags.
For example, despite Shiseido's operating income remaining unchanged from the previous year at 722.7 billion yen for the first three quarters, its net profit decreased by 96%, falling to 700 million yen.
In the competition for the last spots in the top ten, Coty (Skin Health and Beauty Business) ranked 11th with a net sales amount of 23.13 billion yuan;
Natura&Co, which sold Aesop and The Body Shop, ranked 12th with a net sales amount of 20.5 billion yuan. Meanwhile, the Spanish fragrance giant narrowly beat Coty with its excellent perfume business performance, entering the top ten.
According to financial reports, against the backdrop of a complex global economic environment this year, where many companies are facing difficulties, Puig Group's sales growth rate is the fastest among the top ten companies, with an increase of over 10%.
Its growth is mainly attributed to its high-end perfume business.
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