Leading beauty players have come to rely on China as a key growth engine, given the explosive expansion of the country’s middle-class population and its penchant for luxury beauty, but the latter part of 2023 demonstrates the unique and often unexpected challenges the market can pose.
Q4 Beauty Earnings Preview: China Volatility In 2023 Has Analysts Leery Of Big Beauty’s Results
Shiseido, L’Oreal and The Estee Lauder Companies are preparing to announce earnings results for the final three months of 2023, and all are expected to report headwinds that held back performance in China. Analysts anticipate a strong fourth quarter from Coty, which has been largely insulated from the ups and downs of the Chinese market in recent years.
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Haleon now holds 88% of its China OTC joint venture after acquiring a larger stake in the business from its local partners.
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APAC health agencies such as WHO and Thailand's FDA are on board with the self-care agenda, and see it as crucial to achieving universal health coverage.
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Haleon highlighted consistent market share gains in China as it reported third-quarter results.
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Joint venture business which markets Haleon's OTC drug brands in China will soon be 88% owned by the UK-based firm.
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GSCF research shows that self-care already saves the Asia Pacific region more than $30bn a year in healthcare system costs. To realize higher gains, health literacy, Rx-to-OTC switch and digitalization need to be leveraged, according to the EU-ASEAN Business Council.
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APAC health agencies such as WHO and Thailand's FDA are on board with the self-care agenda, and see it as crucial to achieving universal health coverage.
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A round-up of recent consumer health appointments: PharmaSGP names new CEO; Stada appoints Vietnam head; NèreS adds to board.