Cooperates with L'Oreal, PRADA Beauty Enters China
- Chaileedo Press
- Sep 23, 2022
- 2 min read
PRADA PARADOXE entered China, reflecting the international brand's confidence in the Chinese perfume market.
Recently, the first specialized store and the first flash store of PRADA Beauty in China officially landed in Jing'an Reel Department Store, and also brought the world's first new product - PRADA PARADOXE perfume for women, which is the first product launched after the brand joined L'Oreal Group.
In August 2022, PRADA opened a new independent account @pradabeauty on Instagram, marking the beginning of the brand's beauty business.Judging from its posts, PRADA will launch a fragrance called Paradoxe, with international actress Emma Watson as the spokesperson.
What is noteworthy is that the PRADA PARADOXE female fragrance comes in a recyclable box and perfume bottle. Not only does it use a groundbreaking multi-step biotransformation process, but the bottle's chic design also reduces the amount of glass used, and the box is made of sustainable paper. Meanwhile, the fragrance's three main ingredients are sustainably sourced, including Moroccan orange blossom essence, Madagascar premium bourbon vanilla infusion, and Calabrian bergamot.
According to CHAILEEDO's 2022 Fragrance Product Insight Report, the Chinese fragrance market is at a CAGR of 22.5% between 2021 and 2025, far exceeding the 7% CAGR of the global fragrance market. The Chinese fragrance market is expected to reach 16.9 billion yuan ($2.378 billion) in 2022, and by 2025, the Chinese fragrance market retail sales are projected to reach 30 billion yuan ($4.221 billion) 2025 and are estimated to become the second largest market in the world.
At the first store opening ceremony, PRADA Beauty Brand Director Xu Haiyan said, PRADA PARADOXE female perfume enters China, reflecting the brand's confidence in the Chinese perfume market. The first offline specialized store of PRADA Beauty in China landed in Shanghai, and after that, will gradually open specialized stores in other cities, to bring more beauty products to Chinese consumers.
L'Oréal China Vice President and General Manager of the Premium Cosmetics Division Ma Xiaoyu said, L'Oréal Group has always been committed to bringing outstanding, innovative, and assured cosmetic products to consumers. The new start of Prada Beauty in China will inject new momentum into the booming premium market and perfume market. At the same time, it will also do its part to build an international consumer center city for Shanghai and develop a high-end industrial cluster for fashion consumer goods.
Public information shows that in 2019, Prada signed a long-term license agreement with L'Oréal Group that L'Oréal Group ought to create, develop, and sell luxury beauty products for Prada, with the license agreement taking effect on January 1, 2021. Prior to that, Prada perfumes were handled by the Spanish beauty and fragrance group Puig.
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