CHAILEEDO found that Dermatological Beauty at L’Oreal Group achieved steady growth in five consecutive years. (Credit: Angie MA, Vice President of L’Oréal China and General Manager of L’Oréal China Dermatological Beauty Division) Recently, beauty giant L'Oréal Group reported its results for the first quarter of 2023. The company reported sales of about €10.38 billion ($11.4 billion), up 13% year-on-year. The results showed that in the first quarter of 2023, L'Oréal Professional Products, Consumer Products, Luxe and Dermatological Beauty (formerly Active Cosmetics) achieved sales of 8.63 billion euros ($9.5 billion), 28.83 billion euros ($31.7 billion), 28.14 billion euros ($30.9 billion) and 12.72 billion euros ($14 billion) respectively, with all four divisions achieving year-on-year growth. Notably, Dermatological Beauty was the fastest-growing division in the L'Oréal Group in the first quarter of 2023 with an increase of over 30.6% compared to 2022. LA ROCHE-POSAY was the main contributor to the division's growth. SkinCeuticals, CeraVe, the L'Oréal Group's recently acquired brand SkinBetter Science achieved outstanding performance. As Angie MA, Vice President of L’Oréal China and General Manager of L’Oréal China Dermatological Beauty Division, said at L'Oréal China's 2023 Annual Results Press Meeting on April 21, "In 2022, we are even continuing to pick up the pearl of China's number one dermatology-grade skincare group with a rapid growth rate of six times the market growth." Five consecutive years of steady growth In the 2022 financial report disclosed by L'Oréal in January this year, sales of Active Cosmetics were €5.125 billion ($5.6 billion), an increase of 30.6% year-on-year. The brand LA ROCHE-POSAY and CeraVe performed brilliantly. LA ROCHE-POSAY became the number one brand in the division, driven by its main CICAPLAST and Effaclar series. CHAILEEDO analyzed L'Oréal Dermatological Beauty's sales over the last five years and found that the division has been growing rapidly for five years. In particular, in 2020, the L'Oréal Group recorded only 27.99 billion euros ($30.8 billion), down 4.1% year-on-year. Three of its four divisions experienced a collective decline in sales, except for the Active Cosmetics division, which recorded double-digit positive growth. According to Grand View Research, the global dermocosmetics skin care products market size was valued at $52.12 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2022 to 2030. In L’Oreal’s 2022 results, the Active Cosmetics division recorded year-on-year growth of 21.9%, which L'Oréal Group said was twice the growth rate of the dermocosmetics market. What is the "secret" of the division's growth? The L'Oréal Dermatological Beauty division is said to include six brands: LA ROCHE-POSAY, Vichy, CeraVe, SkinCeuticals, Decleor and Skinbetter Science. So why is the division growing steadily? Firstly, technological renewal of products + focus on repair LA ROCHE-POSAY is the number one brand in the division. L'Oréal refers to LA ROCHE-POSAY's outstanding performance in its earnings report, "LA ROCHE-POSAY driven by the success of the UVMune 400 breakthrough innovation in sun protection." The sunscreen product here refers to the patented LA ROCHE-POSAY UVMune 400, which was launched by LA ROCHE-POSAY in October last year. CHAILEEDO found that the product's efficacy focuses on two popular sectors: sun protection + skin repair. L'Oréal says that UVMune 400 sunscreen technology is its first major breakthrough innovation in sun protection in almost 30 years. It claims that effectively protects the skin against ultra-long-wave UVA radiation. With this patented technology, L'Oréal said it can help consumers effectively prevent this major public health problem: deep skin damage caused by solar radiation. Meanwhile, the division's other iconic brand, CeraVe, focuses on skin repairing and is also poised to perform well in 2022. L'Oréal's financial report says that CeraVe makes the same contribution to the division as LA ROCHE-POSAY. It is said that the CeraVe focuses on skin barrier repair. In recent years, skin barrier damage has become a growing concern. In the Chinese market, for example, 40% to 56% of Asian women have sensitive skin, according to data from the Chinese Journal of Dermatology and Venereology's Expert Consensus on the Diagnosis and Treatment of Sensitive Skin in China. Data from Tmall Innovation Center shows that the search popularity of "repair" skin care products in 2021-2022 is as high as 160,000+, and the visit popularity of "barrier" in 2022 has reached 1.7 times of "sensitive". In 2022, "barrier" was 1.7 times more popular than "sensitive". In response to this trend, CeraVe Moisturising Lotion, which focuses on the active ingredient ceramide and claims to be effective in repairing the barrier, has been well received by consumers. In the flagship shop of CeraVe on Chinese e-commerce platform Tmall, some consumers said, "I searched a lot on this cream + sharkane oil to raise the skin barrier. I came to review it after using it for a few days. I felt very comfortable using it." "The absorption is very good and I haven't had an allergic reaction yet. Very moist." "My face has been a bit sensitive lately, so I feel really comfortable using this, my face doesn't sting as much after a few days". The product is priced at 98 yuan ($14.2)/85g and sells 10,000+ units per month. Secondly, endorsement by the dermatologist CBNData research found that consumers become more rational and objective when choosing skincare products after the pandemic. The key consideration in choosing skincare products has changed from "product efficacy" to "product safety", achieving a shift from efficacy-led to safety-first. At the same time, consumers' trust in skincare information channels has also changed: trust in dermatologists has increased from 35% before the epidemic to 56% after the epidemic. Trust in expert opinion has increased from 34% to 50%. Trust in recommendations from friends and family, beauty bloggers and beauty guides has decreased. In the post-epidemic era, professionals are more likely to be trusted by consumers than word-of-mouth or recommendation by influencers. In the reviews of the aforementioned CeraVe Moisturising Lotion in its flagship shop, many consumers also said, "This is super recommended by dermatologists" and "It's right to listen to dermatologists". In February this year, Myriam Cohen-Welgryn, President of L’Oréal Dermatological Beauty Division, posted a message on LinkedIn saying that the former L'Oréal Active Health Cosmetics division officially changed its name to L'Oréal Dermatological Beauty. Myriam Cohen-Welgryn said that the fact that people are now increasingly conscious of their appearance and look to medical professionals for ways to become healthy and beautiful is the reason for the name change of L'Oréal Active Cosmetics and that the division will form a community of 7,500 passionate experts - dedicated to transforming people's lives and increasing access to skin health for everyone, everywhere. The division's brands are also deeply involved in dermatology. CeraVe was created by American dermatologist Hensby Christopher. In October 2022, together with Professor Yang Sen, a member of the Standing Committee of the Chinese Society of Medical Aesthetics and Head of the Laser Aesthetics Group, and Zhang Xuejun, Chairman of the Committee on Psoriasis of the Chinese Society of Dermatology and Venereology, CeraVe launched the 2022 Blue Book of Skin Barrier Health. At the beginning of January 2023, LA ROCHE-POSAY released the first documentary on caring for the skin health of tumour patients, Under the Skin. It showed the real life of tumour patients and made the public aware of the physical and psychological impact of adverse skin reactions on tumour patients. In doing so, it called for the attention of the whole society. The brand philosophy of "Skin Science, Changing Lives" has been further reinforced by LA ROCHE-POSAY in China and it focused on the special needs of oncology patients over the years. Acquired by L'Oréal in September 2022, Skinbetter Science was co-founded by pharmaceutical industry professionals Jonah Shacknai, Justin Smith and Seth Rodner in 2016, according to public information. According to L'Oréal, it is now one of the fastest-growing medical skincare brands in the U.S. Skinbetter Science's products are primarily available through a network of leading dermatology, plastic surgery and medical aesthetics practices in the U.S. The Chinese market remains a focus of the division In its Q1 2023 earnings report, L'Oréal said that in North Asia, the Dermatological Beauty division maintained strong growth in the region. As the largest organ of the human body, the health of the skin has a significant impact on a person's quality of life and physical and mental health. The L'Oréal Group has high expectations and strategic upgrades for its dermatological and aesthetic business units. At the 2023 Annual Results Press Meeting of L’Oreal held on 21 April, Fabrice MEGARBANE, President of L’Oréal North Asia and CEO of L’Oréal China said: "The beauty industry can play a greater role in supporting the achievement of the 'Healthy China 2030' goal, bringing people's A better and happier life. Driven by this vision, L'Oréal China has launched the 'Beauty for Health' initiative, hoping to pioneer open innovation with more partners in the health ecosystem." "We expect Dermatological Beauty to be the pioneering division to drive this initiative, to seize the strategic opportunity of upgrading health consumption, and to inject 'new momentum of beauty' with innovation for a healthy mindset, a healthy ecosystem and a healthy life that moves the world." (Credit: Fabrice MEGARBANE, President of L’Oréal North Asia and CEO of L’Oréal China) During the meeting, L'Oréal also unveiled its strategic plans for the future of the division. Angie MA said, "In the face of more specialized and segmented market needs, we will continue to solve the problem with a multi-layered strategy of solid growth, innovative investments and increased scale. The renamed Dermatological Beauty will also aim to be a strong driver of L'Oréal's 'Beauty & Wellness' ecosystem by creating more sustainable, life-changing beauty solutions in partnership with experts in the health sector, with dermatology as its foundation." According to Euromonitor, the dermatology-grade skincare market in China will be approximately 28.59 billion yuan ($4.14 billion) in 2022. In the Chinese market, while L'Oréal's brands such as LA ROCHE-POSAY and VICHY have occupied consumers' minds earlier, Chinese brands such as Winona have also emerged in the Chinese market in the last two years. According to the financial report, Winona's parent company, BTN, generated revenue of 5.014 billion yuan ($726.7 million) in 2022, an increase of 24.65% year-on-year. Speaking at the strategy session, Angie MA said, "Against the backdrop of a time when consumers are more rational and knowledgeable about the mechanisms of skincare, we believe we have a more competitive advantage as a scientific skincare brand." Whether L'Oréal can maintain steady growth in the increasingly competitive dermatological-grade skincare sector is yet to be tested by consumers.

In 2022, Jahen Household Products Co., Ltd.（JIAHEN）,the Chinese daily chemical products producer, reported a revenue of 1.052 billion yuan ($ 152.61 million), a year-on-year decrease of 9.45%. In 2022, Jahen Household Products Co., Ltd.(JIAHEN), the Chinese daily chemical products producer, reported a revenue of 1.052 billion yuan ($152.61 million), a year-on-year decrease of 9.45%. The company’s net profit attributable to shareholders reached 69.66 million yuan($10.11 million), a year-on-year decrease of 28.30%. According to the financial report, the company is mainly engaged in the R&D, design, and production of OEM/ODM daily chemical products and plastic packaging containers, and has integrated comprehensive service capabilities for the R&D, formulation, packaging, and plastic packaging container design and manufacturing of cosmetics and home care products. JIAHEN 's main products include skincare, hair care, perfumes, soaps, disinfectants, hand wash, and other home care products, as well as supporting plastic packaging containers. The products are mainly used in the fields of personal beauty care and home cleaning. The company's main brand customers include Johnson & Johnson, Shanghai Jahwa, Beiersdorf, Yumeijing, Inoherb, Dior, Victoria's Secret, Shell, Reckitt Benckiser, P&G, etc. In terms of the business segments, cosmetics business recorded a revenue of 541 million yuan ($78.48 million) in 2022, saw decrease of 14.05%, accounting for 51.52% of the company's total revenue. Plastic packaging containers business delivered a revenue of 407 million yuan($59.04 million), accounting for 38.73% of the company's total revenue. Home care products business posted a revenue of 71.63 million yuan($10.39 million), with a decrease of 26.08%, accounting for 6.81% of the total revenue. Regarding the year-on-year decline in operating income and net profit, JIAHEN Home attributes it to two factors. Firstly, the demand for cosmetics consumption was suppressed during the reporting period due to the impact of the macroeconomic environment. At the same time, due to personnel mobility and logistical constraints, the operational activities of Jiaheng's subsidiary, Shanghai Jiaheng, such as order delivery and production arrangements, were significantly affected in a phased manner. Secondly, Jiaheng's wholly-owned subsidiary, Huzhou Jiaheng's cosmetics production line began gradually production in June 2022. Due to being in the initial stage of production, the utilization rate of production capacity was low, and its scale effect was not fully realized. At the same time, fixed expenses such as operating costs and depreciation resulted in losses during the reporting period. In terms of regional breakdown, domestic revenue was 960 million yuan($139.26 million), a year-on-year decrease of 11.39%, accounting for 91.31% of the company's total revenue. While overseas revenue reached 91.33 million yuan($13.25 million), saw growth of 17.62%, accounting for 8.69% of the company's total revenue. In addition, the company's R&D investment was 21.52 million yuan($3.12 million), mainly used for R&D projects on innovative technologies and material applications for cosmetics and related R&D projects such as anti-aging, wrinkle removal, whitening, sun protection, acne and spot removal, and hair loss prevention and scalp care.

Nanjing COSMOS Chemical Co., Ltd.(COSMOS), the Chinese cosmetic active ingredients producer, delivered 1.764 billion yuan ($ 256.43 mil) in operating revenue, with and remarkable growth of 61.85%. Nanjing COSMOS Chemical Co., Ltd.(COSMOS), the Chinese cosmetic active ingredients producer, delivered 1.764 billion yuan ($ 256.43 million) in operating revenue, with and remarkable growth of 61.85%. While the net profit attributable to shareholders reached 388 million yuan ($56.36 million), a year-on-year increase of 192.13%. According to the financial report, the company is mainly engaged in the research and development, production and sales of daily chemical raw materials, including sunscreen and other cosmetic active ingredients, synthetic fragrances, etc. The company's products have entered the international mainstream market system. The main customers of cosmetic active ingredients such as sunscreens include DSM, Beiersdorf, Procter & Gamble, L’Oréal, Merck, Johnson & Johnson and other large multinational cosmetic companies and specialty chemical companies. The main customers of the company’s synthetic fragrances products Include Givaudan, Firmenich, IFF, Symrise, Colgate and other world-renowned fragrance and flavor companies and oral care companies. In terms of products, cosmetic active ingredients and raw materials recorded 1.44 billion yuan($209.326 million) in operating revenue, saw growth of 97.14%, accounting for 81.65% of COSMOS’ total operating revenue. Synthetic fragrances recorded 288 million yuan in operating revenue, a year-on-year decrease of 10.54%, accounting for 16.36% of the company’s total operating revenue. COSMOS said that with the continuous recovery of the downstream market of cosmetic active ingredients and its raw material business, the company's operating revenue achieved a outstanding growth in 2022. At the same time, the company's product price adjustment measures based on the sharp rise in raw material and sea freight prices since the fourth quarter of 2021 have been gradually implemented. And the company's overall capacity utilization rate has increased, which made the company's comprehensive gross profit margin during the reporting period to increase to 36.66%. COSMOS stated that In 2023 the company is set to strengthen business cooperation with domestic leading cosmetics companies and focus on promoting business cooperation with domestic leading care products brands.

Etude House, a Korean beauty brand owned by Amorepacific, has decided to exit from the Hong Kong market after a decade of operations, with its last day of business being April 24th. Etude House, a Korean beauty brand owned by Amore Pecific, has decided to exit from the Hong Kong market after a decade of operations, with its last day of business being April 24th. "Thank you for your love and support to ETUDE. ETUDE will go out of business in Hong Kong starting from 24 April, 2023." the Etude House statement read. On Feb 2022, HERA, also a brand under Amore, announced that it has gradually closed its offline counters in China. HERA is a high-end beauty brand owned by the Korean cosmetics giant, Amorepacific. Established in 1995, it offers a full range of skincare and makeup products. In July 2016, HERA officially entered the Chinese market with its first offline counter located at SKP in Beijing. On Feb 2022, Etude House closed its last physical store in Singapore's Bugis Junction and shifted its focus to online sales. However, its products remained available in Singapore through its website and on eCommerce platforms like Lazada and Shopee. The Korean beauty brand, known for offering affordable cosmetics, entered the Hong Kong market in 2013. It is reported that the Etude House once rented a shop on Yee Wo Street in Causeway Bay for almost HK$1 million monthly. However, the store has since closed permanently and has been replaced by Casetify's store. To date, six Etude House stores in Hong Kong have ceased operations. According to Amorepacific's financial report, although its subsidiary brand Etude House achieved a turnaround in performance, the company's total sales in 2022 were 44.95 trillion Korean won ($3.379 billion), with a decline of 15.6% compared to 2021. 7.19 trillion Korean won ($2.044 billion) in 2022, a year-on-year decline of 23.7%, and sales in the Asia region fell by 24%.

P&G delivered $20.1 billion net sales in Q3 of 2023 fiscal year, saw growth of 4%. with organic sales rising by 7%. The organic sales increase was driven by ten percent increase from higher pricing and a one percent increase from favorable product mix. Procter & Gamble (P&G), the consumer goods giant, delivered $20.1 billion net sales in Q3 of 2023 fiscal year, saw growth of 4%. with organic sales rising by 7%. Procter & Gamble (P&G), the consumer goods giant, announced a net sales figure of $20.1 billion, which represents a 4% rise compared to the same period in the previous year. Organic sales, which exclude the impacts of foreign exchange and acquisitions and divestitures, saw growth of 7%. This exceeded the $19.3 billion estimate predicted by analysts surveyed by Factset. Diluted net earnings per share were $1.37, a 3% increase from the prior year. Net earnings for the quarter were $3.4 billion. P&G pointed out that the rise in organic sales was driven by a ten percent increase from higher pricing, and a one percent increase linked to a positive shift in product mix. However, this was partly offset by a 3% decrease in the volume of shipments. “We delivered strong results in the third quarter of fiscal year 2023 in what continues to be a very difficult cost and operating environment,” said Jon Moeller, Chairman of the Board, President and Chief Executive Officer. “Our team’s strong execution of our strategies and our progress through three quarters enable us to raise our fiscal year outlook for sales growth and cash return to shareowners and maintain our guidance range for EPS growth despite continued cost and foreign exchange headwinds.” In terms of business segments. beauty segment delivered $3.494 billion in organic sales, with an increase of 7% compared to last year. Skin and Personal Care organic sales experienced slight growth due to higher pricing and volume growth through innovation, but sales of SK-II in the travel retail channel were lower. Hair Care organic sales increased by double digits because of increased pricing. Grooming segment organic sales saw 7% growth of $1.495 billion, mainly due to higher pricing, although negative volume and mix impacts were caused by the market contraction of appliances. Organic sales grew in all regions. Health Care segment, organic sales increased by 9% to $2.828 billion. Oral Care organic sales increased significantly due to higher pricing. Personal Health Care organic sales grew by double digits due to increased pricing, favorable mix, and volume growth through innovation and a robust respiratory season. The Fabric and Home Care segment's organic sales reached $7.016 billion, with an increase of 9%. Fabric Care organic sales grew by high single digits due to increased pricing, while Home Care organic sales increased by double digits due to higher pricing and favorable product mix, although volume declines were mainly experienced in Europe. The Baby, Feminine and Family Care segment's organic sales increased by 6% to $5.062 billion. Baby Care organic sales increased moderately due to increased pricing, but volume declines were primarily experienced in Europe. Feminine Care organic sales increased by low teens driven by increased pricing and favorable geographic and product mix. P&G said the company now raised its guidance for fiscal 2023 all-in sales to grow approximately 1% versus the prior fiscal year, from a prior guidance range of down one percent to in-line. The Company also raised its outlook for organic sales growth to approximately 6% versus the prior fiscal year from a prior growth range of 4 to 5%.

In uncertain generations, seek stability. L’Oréal China today (April 21st) presented its new development strategy at the 2023 Annual Results Press Meeting themed “Beauty Beyond @ the Dawn of New Era” in Shanghai. Fabrice MEGARBANE, President of L’Oréal North Asia and CEO of L’Oréal China, was joined by other Group’s strategic committee members to share L’Oréal’s latest results, market insights and strategic plans in China. Three years ago, an epidemic disrupted everyone's lives, and the beauty industry grew tenaciously amidst the turmoil. The total retail sales of cosmetics in 2022 were 393.6 billion yuan, a decrease of 4.5% compared to the previous year. Among them, the retail sales data in December was 29 billion yuan, a year-on-year decrease of 19.3%. Despite strong headwinds, L’Oréal China marked its 25th anniversary in China in 2022 by posting a remarkable 5.5% like-for-like growth in China, and also demonstrated its leadership in the market in 2023 Q1. Among then, LUXE Division building the most diverse and balanced portfolio with over 30% market share in China. From VUCA to BANI, complexity and uncertainly when world population reached 8 billion. As we move towards our 26th anniversary, what new beauty insights has L'Oréal brought to the table? Physical and Digital Traffic is gradually returning, and the economy is gradually recovering, Fabrice state when talking about the Chinese beauty market in the post-epidemic era. What is L’Oréal's new plan for China's offline market? Fabrice said in an interview with CHAILEEDO that L’Oréal has never stopped investing in the offline channel, mainly in two aspects. One is to keep opening stores and the other is to focus on new-tier city. L’Oréal has observed new-tier city upgrade and opportunities. It is expected that China's urbanization rate will reach 70% by 2030. Besides, narrower gap on desire for beauty between new-tier and high-tier city, and new-tier citizens still hunger for accessibility. Fabrice found that post-epidemic consumers want to socialize again and decide to come back to offline. In this process, consumers used to just want convenience, but now they want more new experiences. L’Oréal's new offline stores in China are focused on the consumer experience. Fabrice said that now online and offline are inseparable, and L’Oréal's sales model is omnichannel. What L’Oréal wants to do in the future is PHYSICAL+DIGITAL, more intelligent offline and more digital online, which also shows L’Oréal's digital transformation. Universalisation to singularisation According to Mackinsey 2023 China Consumer report, huge middle class in China show rising consumer demand. It is expected that the middle class population in China will reach 550 million by 2025. “This is definitely a huge engine for the future consumption in China.” Fabrice said. L'Oréal believes that digital boom with continuous new tech investment. This means that consumers in this era are more personalized and individualized on consumers’ need. Fabrice said that three years ago L'Oréal had noticed that the Chinese beauty market has a trend of personalization, and now L'Oréal believes that beauty is diverse and respects the diversity of beauty. Fabrice shared L'Oréal's initiatives to address the development of personalized beauty in the market. The first is L'Oréal's provision of beauty services. For example, L'Oréal trains hairdressers so that they can provide personalized services to their customers. The second is the hope that the effect of beauty products can achieve personalized needs. L'Oréal now has 22,500 possible colors for its makeup. Thirdly, L'Oréal wants to provide personalized beauty tools to meet the needs of different consumers. Invest in sustainability is the new destination Speaking on the new consumption of today's consumers, Fabrice state that 49% of them prefer products with functional superiority, 24% want emotional fulfillment and connection and 27% want the world to be a better place. Sustainability is a part of that. China's sustainable development is backed by policies and will likely achieve carbon neutrality before 2060. Fabrice believes that China already becomes one of the fastest country in the world developing and utilizing new energies. L’Oréal China and Alibaba launched the “First Digital Circular Economy Model in Beauty” project, which was signed during French President Emmanuel Macron’s state visit to China in early April. It is not only a China-France strategic partnership program, but also a ground-breaking initiative for the Chinese beauty industry on the sustainability front. The two sides also kick off the cooperation on “The 1st L’Oréal Group 88 Decarbonization Day” with theme of “Circular Beauty · New Singularity”. L'Oréal China and Alibaba are both core initial members of “Decarbonization-friendly Actions”. As part of consumer-facing activities under the Actions, the “88 Decarbonization Day” aims to offer low-carbon products and promote low-carbon concept with corporate actions. By promoting reduced, replaceable and recyclable L'Oréal products developed based on sustainability principles, “88 Decarbonization Day” will drive more people to join the transformation journey that protects their shared future.

L’Oréal, the French beauty giant, announced that the company delivered a successful performance in Q1 with sales up 13% to €10.38 billion ($11.38 billion). L’Oréal, the French beauty giant, announced that the company delivered a successful performance in Q1 with sales up 13% to €10.38 billion ($ 11.38 billion), beating the market’s expectation of 8.08% growth. L’Oréal continued its remarkable performance with growth in all division and all geographic Zones. In terms of business division, the Professional Products Division posted strong growth with 7.6% like-for-like and 9.8% reported. The Division continued to perform in all distribution channels. The Consumer Products Division also delivered an outstanding start with growth of 14.7% like-for-like and 15.7% reported. Each of the Division’s global brands recorded double-digit growth and outperformed the market. Makeup was the fastest growing category. L’Oréal Luxe Division posted growth of 6.5% like-for-like and 7.7% reported in Q1. The company said that rapid growth was due to the outperformance of its most dynamic category fragrances, which was driven by the success of Yves Saint Laurent and its three main pillars Libre, Y and Black Opium. While the Dermatological Beauty Division reported growth of 16.0% like-for-like and 16.6% reported. In terms of geographic zones, SAPMENA – SSA saw a remarkable growth of 26.7 % like-for-like, leading all the geographic zones. L’Oréal pointed out that sales growth was driven by Australia and the rebound in tourism in Thailand. Latin America ranked second with growth of 22.3% like-for-like. L’Oréal said Brazil and Mexico contributed most for the growth. Makeup sales accelerated significantly, driven by the outstanding performance of Maybelline New York. Followed by North America and Europe saw 16.6% and 16.0%% growth like-for-like respectively. L’Oréal pointed out the European beauty market remained dynamic in the first quarter, driven by the makeup, fragrance and skincare categories. While Maybelline New York and L’Oréal Paris in makeup, Garnier in skincare and L'Oréal Paris in haircare contributed to the growth in North America. Despite the decline in China, L’Oréal also saw growth of 1.9% like-for-like. The company pointed out that from February, Chinese consumer demand for beauty resumed, as did footfall in brick-and-mortar. Its unrivalled brand portfolio coupled with its omnichannel strategy allowed L’Oréal to outperform the Chinese market, demonstrating once again its ability to navigate uncertainty with agility.

Johnson & Johnson reported sales growth of 5.6% to $24.7 Billion in 2023 Q1. The company posted a net loss of $68 million, down 101.3%. Johnson & Johnson announced its first-quarter performance. The company reported sales growth of 5.6% to $24.7 Billion with operational growth of 9.0%, which was better than the market’s expectation of $23.666 billion. Johnson & Johnson posted a net loss of $68 million, down 101.3% due to a special one-time charge related to talc cancer claims. The company reported a net profit of $5.149 billion in the same period last year. Johnson & Johnson is still facing a long-running legal battle over its talcum-based baby powder product. Earlier this month, the company proposed to pay $8.9 billion over the next 25 years to resolve all cancer lawsuits tied to its talc-based powders. The company has secured commitments from over 60,000 current Talc cancer claimants. The company has said it will stop selling baby powder made with talc globally in 2023. Johnson & Johnson said the company is set to increase 2023 full-year guidance midpoints for adjusted operational sales and adjusted operational EPS. In terms of business segments, consumer health business ales increased by 7.4% to $3.852 billion, largely driven by over-the-counter (OTC) products. Major contributors to growth in OTC were TYLENOL and MOTRIN analgesics, upper respiratory products, IMODIUM in digestive health products and international smoking cessation products. Pharmaceutical business ales achieved $13.413 billion, with and increase of 4.7%. Johnson & Johnson pointed out that the growth was driven by DARZALEX (daratumumab), a biologic for the treatment of multiple myeloma, STELARA (ustekinumab), a biologic for the treatment of a number of immune-mediated inflammatory diseases, ERLEADA(apalutamide), a next-generation androgen receptor inhibitor for the treatment of patients with prostate cancer, etc. While the Medtech business saw 7.3% growth to $7.481 billion, driven primarily by electrophysiology products in Interventional Solutions, contact lenses in Vision, wound closure products in General Surgery, and knees in Orthopaedics. “Johnson & Johnson reported another quarter of strong results across our business in the first quarter of 2023," says Joe Wolk, Executive Vice President and Chief Financial Officer, Johnson & Johnson. "We remain focused on the successful separation of our Consumer Health business and are confident in the long-term growth prospects of our Pharmaceutical and MedTech businesses that continue to drive meaningful value for Johnson & Johnson shareholders."

In 2022, Jinbo Bio's operating revenue reached 390 million yuan ($56.75 million), an increase of 67.15% compared to 2021. The net profit was 109 million yuan($15.86 million), saw growth of 90.24%. On April 17, Shanxi Jinbo Biopharmaceutical Ltd (hereinafter referred to as Jinbo Bio), the manufacturer of collagen products, announced its 2022 annual results. In 2022, Jinbo Bio's operating revenue reached 390 million yuan ($56.75 million), an increase of 67.15% compared to 2021, e net profit attributable to shareholders was 109 million yuan($15.86 million), saw growth of 90.24%. From 2018 to 2022, Jinbo Bio's operating revenue was 129 million yuan($18.76 million), 156 million yuan($22.69 million), 161 million yuan($23.42 million), 233 million yuan($33.89 million) and 390 million yuan ($56.75 million) respectively, with a year-on-year increase of 25%, 21.77%, 3.42%, 44.75% and 67%. Net profits were 45.50 million yuan($6.62 million), 42.18 million yuan($6.13 million), 32.27 million yuan($4.69 million), 56.90 million yuan ($8.28 million) and 109 million yuan($15.86 million) respectively. During the reporting period, the company's medical equipment, functional skin care products, and raw material business revenue achieved steady growth. Jinbo Bio attributed the growth of its performance to the expansion of sales channels in 2022. On March 24, Jinbo Bio received approved for its listing on Beijing Stock Exchange. Jinbo Bio will become the second listed recombinant collagen company in China if the company make it success to go public. Jinbo Bio is engaged in functional collagen structure analysis, discovery, and green manufacturing of collagen products by biological Fermentation. The Company owns 32 Chinese patents and international patents. The only active and fully analyzed Type III Humanized Collagen in the International Protein Structure Data Bank (PDB). Jinbo Bio's products are mainly divided into recombinant collagen products, anti-HPV biological protein products. Among them, the company's main products in the field of recombinant collagen products include lyophilized fiber of recombinant Humanized Type III collagen, wound and mucosa repair dressings, functional skin care products. The main products in the field of anti-HPV bio-protein products is anti-HPV biologic protein dressing. In 2022, the sales revenue of Jinbo Bio's recombinant collagen products reached 333 million yuan($48.46 million), saw a remarkable growth of 104.98% compared to 2021. Jinbo Bio pointed out that the rapid growth was due to the continuous growth of the domestic collagen market and expansion of sales channels.

The financial report shows that in 2022, Pien Tze Huang’s cosmetics business revenue reached 634.3 million yuan($92.24 million), with an decrease of 24.61% compared to 2021. Recently, Pien Tze Huang released its 2022 annual report and the first quarter report of 2023. In the year of 2022, Pien Tze Huang delivered a total operating revenue of 8.694 billion yuan ($1.264 billion), with an increase of 8.38% compared to 2021. The total profit of Pien Tze Huang increased by 3.79% to 2.978 billion yuan ($433.05 million). The company’s net profit saw growth of 2.36% to 2.523 billion yuan($366.89 million). While the net profit attributable to shareholders was up 1.66 to 2.4723 billion yuan ($359.51 million). According to the past financial reports, the growth rate of Pien Tze Huang’s operating revenue in 2022 was the lowest since 2015, while in 2022, the company also delivered a lowest growth rate in net profit since 2010. Pien Tze Huang's main business is divided into pharmaceutical manufacturing, pharmaceutical distribution and cosmetics. Cosmetics business, the second growth curve of Pien Tze Huang, has fallen sharply. The financial report shows that in 2022, Pien Tze Huang’s cosmetics business revenue reached 634.3 million yuan($92.24 million), with an decrease of 24.61% compared to 2021. In the first quarter of 2023, Pien Tze Huang’s cosmetics business operating revenue decrease by 42.78% to 109 million yuan($15.85 million). Fujian Pien Tze Huang Cosmetics Co., Ltd., a subsidiary of Pien Tze Huang was founded in 2022. Pien Tze Huang Cosmetics owns multiple brands such as "Pen Tze Huang" and "Queen". Pien Tze Huang Cosmetics has also established a sales network covering various channels such as department store counters, daily chemical stores, drug store chains, experience halls, experience stores, e-commerce and supermarkets. On October 23, 2020, Pien Tze Huang issued an announcement stating that it wound start the preparatory work for the spin-off of Pien Tze Huang cosmetics. In 2022, Pien Tze Huang is also actively promoting the spin-off and listing process of its cosmetics subsidiary. The subsidiary Pien Tze Huang Cosmetics has gradually carried out pre-listing business integration work.

China total retail sales of cosmetics products reached 104.3 billion yuan ($ 15.17 billion) in Q1 2023, with an increase of 5.9% compared to same period of 2021. On April 18, the data released by National Bureau of Statistics of China showed that in the first quarter, the total retail sales of consumer goods reached 11,492.2 billion yuan($1671.54 billion), up by 5.8% compared to 2022. The total retail sales of cosmetics reached 104.3 billion yuan ($ 15.17 billion), with an increase of 5.9%. While in March, the retail sales of cosmetics were 39.3 billion yuan ($5.72 billion), a year-on-year increase of 9.6%. China imported 38,231 tons of beauty cosmetics and toiletries products in March, with an import value of 14.39 billion yuan ($2.09 billion). The total import of beauty cosmetics and toiletries products in the first quarter was 89,624 tons, down 8% compared with the same period last year. The total import value of beauty cosmetics and toiletries products in Q1 was 35.06 billion yuan($5.1 billion), with an increase of 1.2% compared to 2021. According to the report from China Cosmetics International Cooperation Forum on Cosmetics, China's cosmetics trade deficit was $16.67 billion in 2022, a decrease of 14.3% compared to 2021. The total import value of cosmetics reached $22.39 billion, a year-on-year decrease of 10.2%. The total export value was $5.72 billion, with an increase of 17.8%. In terms of imports, China mainly imported cosmetics from Europe, America, Japan and South Korea. In 2022, cosmetics exported to China from France, Japan, South Korea, the United States and the United Kingdom accounted for 83% of China's total cosmetics imports. Followed by Italy, Belgium, Spain, Germany and Switzerland, accounting for 10% of China's total cosmetics imports. From the perspective of imported cosmetics products categories, the cosmetics category with the largest import value in China was beauty and skin care products. In 2022, the import value of beauty and skin care products reached $18.032 billion, accounting for 81% of China's total cosmetics products imports. Personal care products are the second largest cosmetics import category in China. In 2022, the United States was the leading exporter of China's cosmetics. Exports to the United States accounted for 21.6% of China's total cosmetics exports, with an value of US$1.24 billion, a year-on-year increase of 3.6%. Followed by the United Kingdom, Japan, Thailand, Indonesia, Malaysia, the Netherlands, Australia and the Philippines.

The trade volume of cosmetics products between China and ASEAN reached $1.23 billion in 2022. It is estimated that by 2025, the cosmetic market size in Asean will exceed $300 billion. On April 16, the 2023 China Cosmetics International Cooperation Forum on Cosmetics officially kicked off in Changping, Beijing, at which the "RCEP Cosmetics Market Research Report (ASEAN Chapter)" was released. According to the report, the trade volume of cosmetics products between China and ASEAN reached $1.23 billion in 2022. Among them, China exported $920 million cosmetics products to the ASEAN region, accounting for about 16.1% of China's total cosmetics exports, and China imported $310 million cosmetics products from the ASEAN region. From the perspective of specific cosmetics products, the product export categories are relatively balanced. In 2022, the largest category of China's exports to ASEAN were beauty and skin care products, with an export value of $367 million, a year-on-year increase of 82.8%. Followed by other personal care products delivered the fastest growth with an export value of 335 million US dollars, doubled from the previous year. The export value of hair care products increased by 26.8% to 100 million US dollars, while oral care products was $92.21 million, with an increase of 62.3%. The export value of fragrance reached $18.9 million, with an impressive growth rate 70.9%. From the perspective of specific countries, the concentration of the ASEAN market is very high. In terms of cosmetics products exports, the top five countries include Thailand, Indonesia, Malaysia, the Philippines and Singapore, with a total export value of $750 million, accounting for 81.5%. In terms of cosmetics products imports, the top five countries were Thailand, Vietnam, Indonesia, Singapore and Malaysia, with a total import value of $ 290 million US dollars, accounting for 98.9%. In addition, according to the report it is estimated that by 2025, the cosmetic market size in Asean will exceed $300 billion, with a compound annual growth rate higher than that of the European and American markets. Therefore, ASEAN is a key market for China's cosmetics industry to "go overseas".