News | Luxury Brands Unveil 1,000+ Exclusives on Tmall for China's Valentine's Day Celebration

1. Luxury Brands Unveil 1,000+ Exclusives on Tmall for China's Valentine's Day Celebration

Luxury brands have embraced the spirit of romance, unveiling a remarkable collection of over 1,000 limited-edition items on Alibaba Group's Tmall, just in time for Chinese Valentine's Day.

Many of these offerings are unique to the Chinese market, boasting limited editions that can't be found anywhere else in the world. These special releases are a tribute to Chinese Valentine's Day, which is celebrated on August 22nd this year, honoring the legendary love story between a cowherd and a weaver girl from Chinese mythology.

Referred to as the Qixi Festival, this occasion provides an ideal opportunity for shoppers to express their affection through fashionable tokens of love. Every year, luxury brands rise to the occasion by crafting limited-edition variations of both new and iconic designs. 

Qixi Gift Recommendation on Taobao

2. Challenges for Japanese Brands: Fallout Effects from Fukushima in China

Just one week after Japan's controversial decision to release treated wastewater from the Fukushima Daiichi nuclear plant into the Pacific Ocean, Chinese consumers are making their objections heard loud and clear.

Since the news broke last week, several Japanese beauty brands have encountered resistance from consumers in both China and South Korea. On popular Chinese e-commerce and social platforms like Xiaohongshu and Weibo, numerous users have compiled lists of Japanese cosmetic brands and have been actively suggesting non-Japanese alternatives.

Reports suggest that by 2027, China is expected to account for approximately a sixth of the world's beauty sales, with forecasts reaching around $96 billion (RMB 690 billion) annually. This signifies the growing significance of the Chinese market in the beauty industry.

List of Japanese Cosmetics on Little Red Book (Xiaohongshu)

3. Empowering Buyers: Little Red Book's E-Commerce Partner Week in Shanghai, China

On August 24th, Little Red Book hosted a special forum in Shanghai as part of its Link E-commerce Partner Week, titled "The Era of Buyers Has Arrived." This event marked Little Red Book's first significant public declaration of its venture into e-commerce.

The rise of buyers, content creators, and other influential figures has ushered in a new era where users' desires can be fully expressed. These individuals, through expertly crafted content and unique perspectives, assist users in developing their distinct styles, ultimately fulfilling their specific needs.

Little Red Book has proven to be highly effective in generating interest in various products by consistently providing engaging content within its community. The platform's deliberate focus on individual contributors, including buyers, content creators, shop owners, and merchants, reflects a strategic choice to advance its own e-commerce model.

Search Results of 'E-Commerce Partner Week' on Little Red Book (Xiaohongshu)

4. Lululemon Achieves Remarkable 60% Revenue Growth in China in Q2 2023

Lululemon's third-largest market, China, saw its revenue surge by 61% year-on-year to $277 million, far surpassing the 30% growth seen in the same period last year. Its share of revenue also increased significantly from 9.2% in the same period last year to 12.5%, primarily driven by the expansion of store size and continued consumer demand.

Lululemon's Chief Financial Officer, Meghan Frank, stated that the brand's store sales in China have maintained strong and healthy growth during the period. Calvin McDonald revealed that Lululemon's online business in China has also performed positively, and they plan to further accelerate their presence in the Chinese market.

To celebrate its tenth anniversary in the Chinese market, Lululemon has initiated various activities this year to further build community connections and enhance brand awareness.

5. Chanel Introduces Luxury Lipstick with a Price Tag of  $190 (1380 Yuan) in China

Chanel has taken the cosmetics world by storm with the global launch of its LE ROUGE No. 31 Lipstick, reaching unprecedented pricing heights. This new product boasts a staggering price tag of $190 (1,380 Yuan) in China, with its replacement core priced at $86 (620 Yuan). Notably, three out of the twelve available shades at Chanel's Tmall flagship store are already sold out.

The fervent market response to Chanel's premium-priced lipstick is poised to reinvigorate confidence in the cosmetics industry. Many luxury brands are now following in Chanel's footsteps, seeking to enter the lucrative cosmetics arena as a growth strategy in an increasingly uncertain market environment. This move aims to tap into the lipstick economy phenomenon that Chanel has ignited.

Former L'Oréal Group CEO, Jean-Paul Agon, once emphasized that the beauty industry remains resilient to economic fluctuations.