Proya Group released its operating data for the main brands in April 2023. The GMV of the main brand Proya' Tmall flagship store was about 228 million yuan ($32.53 million), a year-on-year increase of about 57%. The GMV of the company’s color cosmetic brand Timage Tmall flagship store was around 45 million yuan ($6.42 million), which saw growth of about 95%. Proya Group, China’s beauty giant, released its operating data for the main brands in April 2023. According to preliminary calculations, the GMV of the main brand Proya' Tmall flagship store was about 228 million yuan ($32.53 million), a year-on-year increase of about 57%. the GMV of the brand's Douyin platform was around 135 million yuan ($19.26 million), a year-on-year increase of about 40%. The GMV of the company’s color brand Timage Tmall flagship store was around 45 million yuan ($6.42 million), which saw growth of about 95%. the GMV of the brand's Douyin platform was about 29 million yuan ($4.14 million), a year-on-year increase of about 69%. Timage is a color cosmetic brand that was created by the renowned Chinese makeup artist, Mr. Tang Yi, based on the principles of Chinese aesthetics and combined with international color cosmetic trends. It is a brand that specializes in customizing makeup products for Chinese faces, with a focus on expressing the natural beauty and grace of Chinese women. While in 2022, the financial report states that Proya Group's revenue for 2022 was 6.385 billion yuan ($928.04 million), showing a growth of 37.82% from the previous year. The net profit also increased by 41.88% to 817 million yuan ($1.188 million). Timage achieved operating revenue of 572 million yuan ($83.13 million), showing a significant year-on-year increase of 132.04%. Proya Group has achieved double-digit growth in operating revenue for five consecutive years since its initial public offering in 2017. In addition, the company's operating revenue for the year 2022 exceeded 6 billion yuan ($872.02 million) for the first time, with its flagship brand, Proya, surpassing 5 billion yuan ($726.28 million) for the first time as well, making it the leading domestic beauty brand in terms of revenue. Furthermore, following its outstanding performance in 2022, Proya Group has continued to maintain a steady growth momentum at the beginning of this year. According to its Q1 2023 report, the company achieved total operating revenue of 1.622 billion yuan ($839.75 million) in the first three months of the year, showing a growth of 29.27%. While according to the WWD 2022’s top 100 global beauty manufacturers list, Proya Group ranked 40th, with the leading position among Chinese cosmetic companies.

Modern Avenue, the Chinese distributor of global beauty brands such as Estée Lauder, Lancôme, and Clinique, announced that the company’s stock has been suspended for over half a month for not disclosing its annual report within the legal deadline. Today, Modern Avenue (Modern Avenue Fashion Group Co., Ltd.) released an announcement regarding the company's actual controller being released on bail pending trial. According to the announcement, the company received a notice from the actual controller of the company, Mr. Lin Yongfei, that the public security authorities have issued a "Bail Pending Trial Decision" for him. According to the relevant provisions of the "Criminal Procedure Law of the People's Republic of China", he was granted bail pending trial, starting from May 11, 2023. It also stated that Mr. Lin Yongfei did not hold any positions in the company and did not participate in the company's management. The above matter will not affect the company's daily production and operation activities. According to a previous announcement, the Shanghai Financial Court will hold a public online judicial auction on "JD.com" (www.jd.com) from 10:00 on May 30, 2023, to 10:00 on May 31, 2023, to auction the 16,000,000 unrestricted circulating shares held by the company's actual controller, Mr. Lin Yongfei. The company said that the shares that may be auctioned accounted for 100% of the shares held by Lin Yongfei and 2.25% of the total share capital. After the auction and passive reduction, Mr. Lin Yongfei and Ruifeng Group will no longer hold any shares in the company, and the company may have no actual controller or controlling shareholder. It is worth noting that Modern Avenue was originally scheduled to disclose its 2022 annual report and the first quarter report of 2023 on April 29, 2023. However, due to the change of accounting firms, the company was unable to disclose its annual report within the legal deadline, and since the opening balance could not be determined, it was also unable to disclose the first quarter report of 2023 on time. According to the provisions of the "Shenzhen Stock Exchange Listing Rules (2023 Revision)", the company's stock has been suspended since the opening of the market on May 4, 2023. According to Modern Avenue's official website, the company is a global fashion brand distributor with its main business covering three major areas: clothing and bags, skincare and makeup, and jewelry and accessories. The brands it operates include Estée Lauder, Lancôme, Clinique, Kiehl's, Shiseido, and others. It has opened an Esscents fragrance duty-free store in the Sands Cotai Central in Macau, specializing in top international cosmetics and perfumes such as YSL, CLARINS, BVLGARI, BURBERRY, and GUCCI. In addition, it has also established B2B and B2C partnerships with e-commerce platforms such as Suning, Tmall, Vipshop, JD, Koala, and Xiaohongshu.

Shiseido announced an absorption-type split that to transfer the business of Shiseido Pharmaceutical to Shiseido Japan. The transfer will be executed through a company split and will take effect on January 1, 2024. Shiseido released an announcement that Shiseido Japan Company, Limited, and Shiseido Pharmaceutical Company, Limited, which are wholly owned subsidiaries of Shiseido Company, Limited, have both made official decisions to transfer the business of Shiseido Pharmaceutical to Shiseido Japan. Shiseido Japan serves as the regional headquarters of Shiseido in Japan, overseeing the marketing and sales of its brands within the country. The transfer will be executed through a company split and will take effect on January 1, 2024. On 10 Feb 2023, Shiseido launched its medium-term strategy “SHIFT 2025 and Beyond”. Shiseido said under a new management structure, the company plans to transition from a "defense" to an "offense" posture over the next three years and drive further growth to become a global leader in the beauty industry while staying true to its heritage. Shiseido said the "SHIFT 2025 and Beyond" management strategy aims to address the remaining challenge of "WIN 2023 and Beyond" by first regaining growth in the Japanese business. The company plans to achieve a core operating profit of over 50 billion yen ($362.38 million) in the Japan business by implementing fundamental reforms over three years from 2023 and to achieve a core operating margin of 12% by 2025 and 15% by the plan's final year of 2027. Shiseido pointed out that the company's goal is to achieve a CAGR of 8% in net sales over the three years from 2023 to 2025, as compared to 2022. Additionally, the company aims to achieve a CAGR of 6% in net sales over the two years from 2026 to 2027, as compared to 2025. To achieve these goals, Shiseido said the Company has identified the "Clean & Dermatology" and "Inner Beauty" domains as areas of opportunity to capture evolving consumer preferences in Japan. By strengthening its initiatives in these domains, the company aims to create new demand and deliver value to consumers. As a result, Shiseido Pharmaceutical's business, which includes brands in these domains, will be transferred to Shiseido Japan, the company's cosmetics and healthcare business in Japan, through an absorption-type split.

The newly created global fragrance and nutrition supplier Dsm-Firmenich announced that Emmanuel Butstraen has been appointed as the new President of its Perfumery & Beauty business. He will take on this position from July 1, 2023. Dsm-Firmenich announced that Emmanuel Butstraen has been appointed as the new President of its Perfumery & Beauty business. He will take on this position from July 1, 2023, after receiving a thorough transition from Ilaria Resta. In addition, he will continue his current role as Chief Integration Officer. Dsm-Firmenich said Emmanuel has been a key factor in the successful merger of Dsm-Firmenich since May 2022. His efforts have led to the establishment of integration planning activities throughout the organization. Emmanuel will continue to supervise the integration process while simultaneously taking on the global leadership position of Perfumery & Beauty, with the backing of a senior team in the company's Integration Management Office. Before taking on the role of Chief Integration Officer, Emmanuel worked as the President of Taste & Beyond at Firmenich starting in 2018. Emmanuel also possesses considerable experience in the personal care industry, having previously held the position of President of Solvay's Novecare global business unit. Before that, he spent 17 years at BASF, where he served as the Strategy Senior Vice President of the Agricultural Products division. Emmanuel holds a degree in Agricultural Engineering and an MBA from the University of Lille, France. Geraldine Matchett and Dimitri de Vreeze, Co-CEOs of Dsm-Firmenich said: “We are thrilled to announce the appointment of Emmanuel Butstraen as the President of our Perfumery & Beauty business. His profound understanding of our customer base and exceptional leadership skills have consistently yielded remarkable results. Emmanuel expressed his enthusiasm about his new role in his LinkedIn account, stating, "I am very excited to build on the excellent work done under Ilaria Resta's leadership over the past three years and establish our Perfumery & Beauty Business Unit as a leader in creativity and innovation in our industry."

Sunscreen brand Vacation has completed the $6 million series A funding. The Miami-based brand will use the funding to increase its distribution nationwide by forming new retail partnerships. Vacation, the Miami-based Sun lotion company concluded a series A funding round, raising $6 million. The funding was led by Silas Capital, True Beauty Ventures, BFG Partners, Sonoma Brands, Marla Beck, co-founder and former CEO of Bluemercury, Heela Yang Tsuzuki, co-founder and CEO of Sol de Janeiro, and other investors. Vacation was established in 2021 by Marty Bell, Lach Hall, and Dakota Green to make sunscreen enjoyable. The company has a beach culture-themed branding from the 1980s and is most recognized for its Classic Whip Sunscreen Mousse, which draws inspiration from whipped cream. By the end of this year, Vacation is expected to achieve $20 million in retail sales. The brand's largest national partner, Ulta Beauty, will expand to an additional 700 locations this month, increasing the brand's overall store count to over 1,200 stores. Vacation will use the newly raised funds to create new products and expand its distribution in the United States and expand its team. This includes partnering with Ulta Beauty, Nordstrom, and Anthropologie to distribute its products. Additionally, the brand will be sold at Bluemercury, CIBO, and Aerie. Ulta Beauty previously recognized Vacation as a top-performing brand earlier this year. In addition, Vacation plans to expand its team, which has recently welcomed new members including London Nielsen-Krupski, who previously served at Bondi Sands, L'Oreal, and PepsiCo as Senior Vice President of Sales and Commercial Strategy. The company also names Ryan Bukstein as Vice President of Marketing and Katrina Virani as Vice President of Product Development. Brian Thorne, partner at Silas Capital said: “Dakota, Lach, and Marty have built an incredible brand that is bringing fun back to the sun care category while demonstrating the ability to break through the inefficiency of digital marketing today with innovative products and creative marketing–that’s their unfair advantage.”

LVMH has named Gonzague de Pirey the Chief Omnichannel and Data Officer for Sephora. The French luxury group regards the appointment as the next stage of its digital transformation. LVMH is moving forward with the next stage of its digital transformation by making a significant appointment. The France-based luxury group has named Gonzague de Pirey as the new Chief Omnichannel and Data Officer for its Sephora brand. According to an internal memo of LVMH, Gonzague de Pirey will oversee the omnichannel, data and artificial intelligence, and digital customer service expertise centers for the group. Gonzague de Pirey is a graduate of Ecole Polytechnique and served as a social affairs advisor in the French Prime Minister's office from 2004 to 2007. Then he joined the Saint Gobain group, where he initially served as the Director of Planning. He then held various management positions in Shanghai and Moscow. In 2016, he was appointed CEO of the Lapeyre group, which specializes in home furnishing products, before joining LVMH in 2020. He will begin his new role on June 1 and will report directly to LVMH's Deputy CEO, Toni Belloni. LVMH stated that in his new position, Gonzague will supervise the worldwide integration of data and artificial intelligence into the value chain of their brands. His teams will cooperate with innovative companies as well as their houses to provide customers with an enhanced and more integrated experience across all touchpoints, as well as to enhance the effectiveness and responsiveness of their supply chains. “I am immensely proud to announce my upcoming role as the Chief Omnichannel & Data Officer within the Group Digital team at LVMH, starting in June 2023.” Gonzague de Pirey wrote in his LinkedIn account, “At LVMH, digital acceleration is a shared priority. The focus now is on leveraging the exceptional talent within the organization to propel the Maisons' growth and explore new opportunities.” Gonzague de Pirey added.

From January to April, the cosmetics import volume in Shanghai was 48.66 tons, down 8.26% compared to the same period in 2022. The import value was 17.142 billion yuan ($2.43 billion), up 7.70% compared to 2022. On May 22, Shanghai Customs revealed that in the first four months of this year, the total import and export value of Shanghai was 13.9 trillion yuan ($1.97 trillion), a year-on-year increase of 13.5%, which was 7.6 percentage points higher than the national level. Among them, exports value reached 558.65 billion yuan ($79.26 billion), an increase of 16.3%, imports value reached 834.57 billion yuan ($118.40 billion), saw growth of 11.6%. In April, the import of cosmetics and beauty products was 12.85 tons, a year-on-year increase of 1.82% with the import value of 4.189 billion yuan ($594.29 million), a year-on-year increase of 2.26%. From January to April, the import volume was 48.66 tons, down 8.26% compared to the same period of 2022. The import value was 17.142 billion yuan ($2.43 billion), up 7.70% compared to 2022. In April, Shanghai exported 5.94 tons of cosmetics and beauty products, which saw a growth of 205.90% compared to the same period in 2022. The export value reaches 479 million yuan ($67.96 million), a year-on-year increase of 294.88%. From January to April, the export volume was 21.1 tons, a year-on-year decrease of 12.23%. While export value was 1.521 billion yuan ($215.78 million), a year-on-year increase of 23.38%. According to previous reports, China imported 32,167.8 tons of cosmetics, beauty products, and toiletries in April, with an import value of 10.97 billion yuan ($1.56 billion). From January to April, the cumulative import volume was 121,779.7 tons, a year-on-year decrease of 8.1%, the cumulative import value was 46.02 billion yuan ($6.53 billion), a year-on-year decrease of 3.7%.

On May 18, 2023, Symrise held the opening ceremony for its new Fine Fragrance creation hub, The Little Red House, located in the heart of Shanghai. On May 18, 2023, Symrise held the opening ceremony for its new Fine Fragrance creation hub, The Little Red House, located in the heart of Shanghai. The event was attended by Symrise fine fragrance perfumers Alexandra Carlin and Maxime Exler, Deputy President of Fragrance Ricardo Omori, Global Fragrance President Eder Ramos, and other important team members. Symrise has opened The Little Red House in Shanghai's Xuhui District, which is part of its efforts to strengthen its position in the important fragrance market of China. Symrise pointed out that the Little Red House has dedicated space for market research, creative arts, and olfactory culture, where exclusive events and cultural programs are held. These include fragrance master classes, perfumer encounters, trend talks, and more, which offer opportunities for learning, connecting, and sharing knowledge. The hub is open to Symrise clients, perfume lovers, KOLs, and members of the media, who can experience a collaborative space that encourages exchanges and fosters creative energy. Julianne Pruett, Global President of Fine Fragrance, said: “We believe in leading at the forefront of innovation and accessibility to our customers. Just like L’Appartement Étoile in Paris, the Little Red House is strategically located in the center of Shanghai and brings us closer to our customers. It also provides a modern ambiance that sparks creativity.” As part of the celebration for the opening of The Little Red House and as a tribute to China's fragrant culture, perfumers David Apel, Suzy Le Helley, and Maxime Exler worked together on an iconic De Laire Base, Piviane, which honors China's long-standing love affair with peonies. The new fragrance, Piviane Impériale De Laire, is made using a combination of exclusive synthetic and natural ingredients known for their captivation, which are commonly used in De Laire fragrances. These ingredients include Symrose, Sympep, Artichoke Symtrap Longoza, and Vetiver from Madagascar. Piviane Impériale represents the epitome of refined floral sophistication, combining the bright blooming peony with a smoky, leathery undertone. It is the ultimate expression of majestic femininity and a tribute to the world of fine fragrances and China. "After working in China for the last couple of years, this new base truly pays tribute to Chinese beauty and their love for fragrance. I love to explore new ingredients and challenge myself. So, alongside our Symrose captive, I played with the addition of the Artichoke Symtrap. It brought something fresh, unique, and genderless,” said Maxime Exler, Perfumer. Source: Symrise

Zhejiang Medical Products Administration launched the 2023 Cosmetic Safety Publicity Week and issue the Zhejiang Province Cosmetic Business Sector Responsible Entity Implementation Guide to guide cosmetic business units on how to operate cosmetics legally and in compliance. On May 23, the Zhejiang Medical Products Administration officially launched the 2023 Cosmetic Safety Publicity Week. At the launch ceremony, the administration also held the premiere ceremony for the Zhejiang Province Cosmetic Business Sector Responsible Entity Implementation Guide (hereinafter referred to as the "Guide"). Wu Hui, director of the Cosmetics Supervision and Administration Department of the Zhejiang Medical Products Administration, introduced that the theme of this year's event is "Safe Use of Cosmetics". The focus is on companies implementing their primary responsibility for quality and safety. Therefore, the Guide was compiled and had its national premiere. The Guide consists of five volumes, compiled according to different subjects, to guide cosmetic business units on how to operate cosmetics legally and in compliance and protect consumers' rights and interests. It is understood that the Guide is divided into five major categories of subjects according to the Cosmetic Supervision and Administration Regulation: cosmetic operators, e-commerce platform operators for cosmetics, cosmetics operators within e-commerce platforms, organizers of centralized cosmetics trading markets and exhibitions, and beauty and hairdressing institutions and hotels, etc. For each category, corresponding responsibility checklists have been developed, and five chapters have been designed: Compliance Management, System Template, Responsibility Checklist, Enterprise Self-Inspection, and "Ten Questions" on Cosmetic Knowledge. The guide uses a combination of text and images to instruct various operators to conscientiously fulfill their main responsibilities and operate cosmetics with integrity and compliance. Wu Hui said that the establishment of the responsibility checklist is to make it clear to companies what their responsibilities are so that when regulatory authorities come for inspections, they will not be penalized. In addition, Wu Hui also revealed that one of the key tasks of the Zhejiang Medical Products Administration this year is to carry out special rectification actions. "This year, we will launch three major special rectification actions. Firstly, the 'Golden Shield Protecting Children' campaign to ensure the safety of children's cosmetics. Secondly, the 'Clean Internet' campaign for children's cosmetics online sales to ensure the quality and safety of cosmetics sold online. And thirdly, the 'Bright Makeup' campaign for beauty and hairdressing institutions. The quality and safety of cosmetics used in beauty and hairdressing institutions are also directly related to consumers' vital interests. We will also carry out special rectification actions for cosmetics used in beauty and hairdressing institutions."

The beauty brand r.e.m. owned by US singer Ariana Grande has revealed that it received a strategic investment from private investment firm Sandbridge Capital. Financial terms were not disclosed. R.e.m. beauty, owned by US singer Ariana Grande, has revealed that it received a strategic investment led by Sandbridge Capital, a private investment firm that focuses on consumer-related businesses. However, no specific information was provided regarding the financial details or the percentage of ownership. Sandbridge Capital was the primary investor in the funding round, with additional participation from Strand Equity, Hybe America, Live Nation Entertainment, and Universal Music Group. This partnership offers an exciting opportunity to maximize r.e.m. beauty's worldwide potential by focusing on product innovation, acquiring talented individuals, and expanding into new geographic regions in response to the brand's increasing global demand. R.e.m. beauty was established in 2021 by Ariana Grande, to produce clean cosmetics that are both high-performing and innovative. The brand's products promote self-expression, creativity, and confidence. R.e.m. now has since gained widespread recognition and praise from numerous publications. The brand offers a diverse range of cosmetic products that have become hugely popular on the internet. Although r.e.m. beauty is already available through Ulta Beauty in the US, Sephora stores across Europe, and more recently, Selfridges in the UK, the brand stated that it would concentrate on its primary markets while planning further expansion. "This has been a truly inspiring time for me as a founder, turning my passion for art, self-expression, and makeup into reality and watching r.e.m. beauty find its wings, especially now during this new era for the brand. I'm thrilled to have these amazing partners join us at this time, supporting our vision and expansion so that fans worldwide can continue to grow with us and enjoy our products. This next chapter could not be more exciting, and I can't wait for everyone to see what is yet to come." said Ariana Grande.

Vipshop announced its unaudited financial results for the quarter ended March 31, 2023. The company’s total net revenues for 2023 Q1 increased by 9.1% to 27.5 billion yuan (US$4.0 billion). The company’s net income attributable to shareholders reached 1.9 billion yuan(US$270.7 million) and saw growth of 69.6% compared to 2022. Vipshop has released its unaudited financial results for the first quarter ended March 31, 2023. The company's total net revenues for Q1 2023 increased by 9.1% to 27.5 billion yuan (US$4.0 billion). Additionally, the company's net income attributable to shareholders grew by 69.6% compared to 2022, reaching 1.9 billion yuan (US$270.7 million). In the first quarter of 2023, Vipshop's GMV increased by 14.0% year over year to 48.5 billion yuan ($6.87 billion) from 42.6 billion yuan ($6.04 billion) in the same period of the previous year. The gross profit for the first quarter of 2023 increased by 17.9% year over year to 5.9 billion yuan ($859.8 million) from 5.0 billion ($709.68 million) in the same period of the previous year. Non-GAAP net income attributable to Vipshop's shareholders also increased by 45.8% year over year to 2.1 billion yuan ($301.3 million) in the first quarter of 2023, compared to the same period of the previous year. Furthermore, the number of active customers in the first quarter of 2023 increased by 4.0% year over year to 43.8 million from 42.2 million in the same period of the previous year. Vipshop anticipates that its total net revenues for the second quarter of 2023 will range between 27.0 billion yuan and 28.2 billion yuan, indicating an increase of approximately 10% to 15% compared to the same period of the previous year. It is reported that to enrich its differentiated product offerings, Vipshop has launched Vipshop customized cooperation with selected key brands this year to provide users with exclusive and cost-effective goods. For example, during the Chinese New Year period, more than ten beauty brands, including Clarins, Winona, and CHANDO, collaborated with Vipshop's IP for the first time to launch co-branded custom sets, and the sales of related products saw rapid growth. Mr. Eric Shen, Chairman, and Chief Executive Officer of Vipshop, stated, “We started 2023 with solid business momentum as we continued to execute our merchandising strategy diligently and effectively. Our abundant and diverse assortments at great value cater well to consumer appetite for discretionary spending along with a rebound in social activities post the pandemic.” Mr. David Cui, Chief Financial Officer of Vipshop, added, “We are pleased to deliver a strong set of first-quarter results. The revenue rise was driven by healthy customer growth with increased spending. Profitability was exceptionally strong because of sales increase and efficiency gains.”

BASF announced the company has formed a partnership with BEAUTYSTREAMS to further develop its digital subscription service D'lite for the personal care industry. BEAUTYSTREAMS will provide personal care industry trend reports monthly. BASF Personal Care is partnering with BEAUTYSTREAMS to further develop its digital subscription service D'lite for the personal care industry. As the leading global reference in the beauty industry, BEAUTYSTREAMS will contribute its expert perspective to monthly trend reports. BEAUTYSTREAMS provides valuable insights by showcasing and interpreting the latest trends in the personal care industry, helping users keep up with the rapidly evolving market dynamics. The reports will be accessible to all registered users in the Concept Collection section of D'lite. BASF said the company’s digital service has an abundance of quantitative data on brand and social media analytics, consumer insights, market products, and various other aspects due to its partnerships with top external partners. “We are very excited to be working with BEAUTYSTREAMS because their reports perfectly complement our existing service,” said Mai Linh Ong, Product Owner of D’lite World. “They contain qualitative statements about current developments in the market and will inspire our customers in their development of innovative personal care products that strike a chord with consumers.” Mai Linh Ong added. BEAUTYSTREAMS is present on five continents and delivers future insights, product forecasts, consumer analyses, and market intelligence to insiders in the beauty industry across the world. Michael Nolte, SVP Creative Director at BEAUTYSTREAMS said: “We are pleased to share key proprietary insights with D’lite users and to connect the dots between lifestyle shifts and the resulting implications for the beauty industry. It is a great opportunity to highlight how industry expert perspectives are indispensable for making sense of the myriad of quantitative data.” BASF's D'lite ecosystem integrates multiple real-time data sources from various social media pages, blogs, forums, and review sites, covering over 3.8 million consumer products and 4,000 brands. It also includes the latest BASF product portfolio, concepts, and over 3,300 formulations. D'lite currently has users in over 100 countries.