China, April 3, 2023.
The promotion season of International Women’s Day has ended, and China’s “She-conomy” has rapidly gained momentum, as evidenced by the boom in cosmetics consumption in the first quarter of brands such as Flower Knows
Some market analysts say that this year, smooth logistics, lower prices of raw materials, and strong desire of residents to travel and buy more products boosted consumption growth in China’s cosmetics market, as well as as they will lead to further consumption growth in the second and third quarters. Statistics show that more than 40% of cosmetics purchased by China’s Generation Z consumers are domestic brands. Meanwhile, emerging domestic cosmetics brands are expanding their global presence and exporting makeup culture with Asian fashion and cultural insights. For example, Flower Knows has entered the Asian market by capturing the hearts of its customers by offering fairytale makeup and dreamy themes for women of all ages. Flower Knows has opened nearly 1,000 offline stores in Japan, as well as entering the Southeast Asian market through the Shopee and Lazada platforms. In the middle of 2022, Flower Knows started independent DTC model for European and American markets, with an annual GMV of 10 million yuan.”Flower Knows insists on independent R&D, and each product line has three or four sets of molds. exclusive, which increases the cost of imitation for competitors,” says Yang Zifeng, founder of Flower Knows. This company frequently offers various and innovative product combinations by launching new products in series, and constantly strengthens R&D capabilities, all with the aim of meeting consumers’ needs and aesthetic preferences.According to the latest study by Guotai Junan Securities , Chinese cosmetics industry leaders are gaining an international competitive edge and shifting from channel-led to product- and brand-led growth, with long-term competition focused on creating great products, building of product systems and multi-brand incubation. To become long-term leaders through market cycles, China’s emerging cosmetics brands also need to cultivate single-brand competitiveness in terms of cultural heritage, RD, aesthetics, and other aspects.
Contact Contact name: Fang Gongyiliu Contact description: Hangzhou Flower Knows Electronic Commerce Co., Ltd Contact phone: 18811312024
