Tmall begins beauty brand blitz
Written by Peter Walker
Alibaba’s Tmall has stated that it expects international and domestic cosmetics brands to open 1,000 shops this year on its platform, to meet burgeoning demand from Chinese consumers.
At its annual beauty summit, Tmall announced that seven international cosmetics companies - Tom Ford, Glamglow, Oriental Therapy, Cosme, d-program, Primera and Barnängen - have signed agreements to open flagship stores on the e-commerce platform this year.
Another five beauty companies - including Maybelline, Kiehl’s, Innisfree and WINONA - signed new retail partnerships during the summit.
“As China continues its consumption upgrade, more and more people from different age groups and geographic locations are willing to spend on high-quality beauty products,” said Jet Jing, president of Tmall.
Tmall’s sales of beauty products jumped over 60 per cent last year, with online sales of cosmetics, skincare and personal care products grew 46 per cent, 40 per cent and 37 per cent in China in 2018, respectively, according to a report jointly released by Tmall and retail market research firm Kantar during the summit.
The report also highlighted untapped potential in Generation Z, with females aged between 15 to 19 years-old apparently willing to spend more on high-end lipsticks than women in other age groups.