The excellent performance of the Sol de Janeiro and the recovering trend in China have been cited as catalysts for improved results. Yesterday (July 25), L'Occitane released its financial results for the first quarter of FY2024 ending June 30, 2023. For the three months ended June 30, L'Occitane Group sales amounted to €502.2 million ($554.5 million), up 24.5% at constant exchange rates. L'OCCITANE said the growth was driven by the excellent performance of the Sol de Janeio brand, as well as considerable growth from L'OCCITANE en Provence as a result of the economic recovery in China. From a brand perspective, Sol de Janeiro was the top performer, with sales up 171% in the quarter to €113 million ($124.8 million). L'Occitane said that successful sales of the brand's core and new products led to triple-digit growth in all regions. L'OCCITANE en Provence achieved sales of €290 million ($320.2 million) grew by 4.4% at constant exchange rates in the first quarter of fiscal 2024, mainly due to improved sales in China. In terms of regional performance, the business in Americas grew the most, up 57.5% at constant exchange rates, driven by the excellent performance of the Sol de Janeiro. The business in Asia Pacific grew by 11.2% at constant exchange rates, driven by a 35.7% increase in China at constant exchange rates, as well as the good performance of L'OCCITANE en Provence and ELEMIS. The performance in EMEA grew by 6.4% at constant exchange rates. L’Occitane Vice Chairman and Chief Executive Officer André Hoffmann said: “It is pleasing to kick off the new financial year with double-digit growth that is being led by our newer brands, Elemis and Sol de Janeiro, who jointly contributed nearly a third of our sales this quarter in line with our multi-brand strategy. At the same time, the core brand grew nicely with the improving trend in China. “We are mindful of the lingering macroeconomic uncertainties, such as signs of a slower-than-expected recovery in China, persistent inflation in major markets and foreign currency exchange headwinds. Yet, we remain cautiously optimistic about our prospects in FY2024, supported by higher marketing investments in key markets and channels for the core brand and the continued development of our newer brands, including the recent entry of Sol de Janeiro and Grown Alchemist into APAC and global travel retail channels.”

On July 20th, Chinese company Jinbo Bio was listed on the Beijing Stock Exchange, becoming the first listing recombinant collagen company in China's A-share market. As the concept of efficacy skincare becomes increasingly popular, recombinant collagen has also gained more attention in the Chinese cosmetics market. It is expected that by 2026, the market size of recombinant collagen for cosmetics will reach 81 billion yuan ($11.27 billion), surpassing hyaluronic acid to become the largest category of professional skincare ingredient. Jinbo Bio's revenue surged by 67.5% in 2022 According to public information, Jinbo Bio, founded in 2008, applies technologies such as structural biology and protein rational design. With recombinant collagen products and anti-HPV biological protein products as their core products, the company is gradually achieving success in the medical, medical aesthetics, and cosmetic fields. From a revenue perspective, Jinbo Bio has seen double-digit growth in the past two years, with revenue increasing by 67% to 390 million yuan ($54.28 million) last year. In terms of net profit, the company has achieved a compound annual growth rate of over 85% in the past two years, with a growth rate of 90% to 109 million yuan last year. In 2022, its net profit margin reached 27.91%, surpassing many other listed beauty companies. In the first quarter of this year, Jinbo Bio continued to achieve high growth: revenue increased by 98.28% to 128 million yuan ($ 17.81 million), and net profit increased by 180.94% to 43 million yuan ($5.98 million), reaching a new high in growth rate. Jinbo Bio's main products can be classified according to core ingredients such as recombinant collagen products, anti-HPV biological protein products, and other products. Among them, the proportion of recombinant collagen products in the main business revenue has been increasing year by year. From 2020 to 2022, the revenue from this part of the product was 101 million yuan ($14.06 million), 163 million yuan ($22.69 million), and 334 million yuan ($46.48 million), accounting for 62.96%, 69.81%, and 85.60% respectively. In 2022, the growth rate reached 105%, and the proportion exceeded 80% for the first time. From 2020 to 2022, the revenue of Jinbo Bio's efficacy skincare products was 54.48 million yuan ($7.58 million), 70.24 million yuan ($9.78 million), and 65.97 million yuan ($9.18 million), accounting for 33.89%, 30.10%, and 16.91% of the company's total revenue, respectively. According to the prospectus, Jinbo Bio has completed major basic research on the recombinant human collagen types I, III, and XVII, and has applied them in different fields, such as gynecology, dermatology, surgery, otolaryngology/oral medicine, and skincare. The company has also stated that it is committed to developing 28 types of human collagen, accelerating the original innovation of recombinant human collagen. In addition, Jinbo Bio has successfully discovered the special functional area of human type III collagen and analyzed the atomic structure of its core functional area, thereby opening up the research path of "humanization". The company has achieved large-scale production of type III recombinant human collagen with a triple helix structure. Jinbo Bio's listing is the second recombinant collagen company to go public within two years, following Giant Biogene's successful listing on the Hong Kong Stock Exchange at the end of last year. It also reflects the capital market's pursuit of recombinant collagen. The market size for recombinant collagen is expected to reach the hundred-billion yuan level In the past, collagen was primarily obtained through animal extraction technologies, which resulted in products with risks of pathogenic viruses, immune rejection, and allergies. Recombinant collagen, however, is modeled on human collagen genes. This type of collagen is highly consistent with the body's collagen, has excellent skin compatibility and tissue compatibility, does not easily trigger an immune rejection response, can be absorbed and assimilated by the dermis of the skin, enhances the expansion force of damaged skin, restores skin elasticity, and has multiple effects such as repair, hydration, brightening, and filling. Therefore, the market demand for recombinant collagen is increasing. Since the breakthrough of recombinant collagen technology in China in 2000, recombinant collagen has highly humanized characteristics, avoiding the biological risks present in animal-based sources, while retaining the excellent properties of collagen. According to data from Frost & Sullivan, from 2017 to 2022, the compound growth rate of the recombinant collagen market was 63%, and it is expected to grow by 42.4% from 2022 to 2027, reaching a market size of 108.3 billion yuan ($15.07 billion), accounting for 60% of the collagen market share. Collagen has broad market prospects in the field of skincare, and its characteristics precisely match anti-aging needs. It is expected that by 2026, the market size of recombinant collagen will reach 81 billion yuan ($11.27 billion), surpassing hyaluronic acid to become the largest category of professional skincare ingredient. According to a report published by Southwest Securities, in the field of skincare, it is expected that by 2027, the end retail market size of recombinant collagen will break through 300 billion yuan ($41.75 billion), surpassing hyaluronic acid to become the largest ingredient. The compound growth rate of recombinant collagen is expected to be 44.3% from 2022 to 2027, exceeding the growth rate of other ingredients, and by 2027, the penetration rate is expected to approach 30%. Currently, the core ingredients of efficacy skin care products are mainly hyaluronic acid and plant extracts, and the market size of skincare products based on collagen is relatively low. However, with the breakthrough and maturation of recombinant technology, the anti-aging effects of collagen are being increasingly explored. It is expected that the market size of skincare products based on collagen will grow rapidly. According to statistics from Frost & Sullivan, the compound growth rate of recombinant collagen skin care products will reach 55% from 2022 to 2027, surpassing hyaluronic acid (41.3%) and plant extracts (30.4%), and the penetration rate is expected to reach 30.5%. Therefore, collagen will become one of the skincare ingredients with the largest application space. China's cosmetics companies continue to enter the market With the expanding market demand and a series of policies leading the industry towards standardization and regularization, the recombinant collagen industry in China is experiencing rapid development. On June 21, 2018, the National Health Commission of China released the National Food Safety Standard for Collagen Peptides , which provided a detailed explanation of the definition and technical standards of collagen peptides. In March 2021, the National Medical Products Administration (NMPA) approved the revision project of the industry standard for Recombinant Collagen, and in the same month, regulations were issued clarifying the core terms and feature terms for recombinant collagen biomaterials. This effectively regulated the confusion in the market brought about by naming, and promoting high-quality development in the industry. In April of the same year, the NMPA issued the Principles for Classification of Recombinant Collagen Medical Products , standardizing the management attributes and category determination of recombinant collagen medical products. In May this year, the National Medical Products Administration's Medical Device Technical Review Center released the Guidance Principles for the Registration Review of Recombinant Collagen Wound Dressings and the Evaluation Guidance Principles for Recombinant Humanized Collagen Raw Materials , establishing a unified evaluation method and standard for recombinant humanized collagen. With the industry becoming more standardized and regulated, the domestic recombinant collagen market is showing flourishing competition. More and more enterprises are entering this field, and some leading companies such as Giant Biogene, Trauer Biotech, and Jinbo Bio have all gone public. Giant Biogene, one of the companies with the largest production capacity for recombinant collagen in the world, went public on the Hong Kong Stock Exchange on November 4, 2022. Its recombinant collagen products are mainly used in the field of skincare, and it is one of the first companies in the world to realize mass production of recombinant collagen cosmetics. Giant Biogene owns eight major brands, covering a variety of application scenarios including cosmetics, medical dressings, private care, oral care, and scar repair. Among them, CONFIME and COLLGENE are the company's two flagship products, accounting for over 90% of revenue. Jinbo Bio, which went public on the North China Exchange today, stated that the company has completed basic research on humanized collagen types I, III, XVII, etc., and has been applied in various fields such as gynecology, dermatology, surgery, ENT/oral medicine, and skincare. The goal of Jinbo Bio is to develop all 28 types of human collagen, accelerating the original development of recombinant humanized collagen. Trauer Biotech, which went public on the NEEQ as early as August 2002, mainly focuses on the field of medical devices and skincare products. The medical devices include collagen dressings, gels, and sponges, which account for 57% of revenue; the skincare products mainly include the Trauemy brand, which includes collagen emulsion, essence, etc. In addition, the domestic cosmetic company Marubi successfully developed a stable recombinant double collagen. This collagen combines type I and III collagen and is completely identical to the amino acid sequence of natural collagen in the human body, with the advantages of fast absorption, good effect, and high safety. The company's skincare brand " Marub i" has been developing for many years, forming a rich product series, and the newly launched double collagen series is the main product series carrying the recombinant double collagen technology. The domestic hyaluronic acid leader, Bloomage Biotech, is also actively laying out in the collagen field. The company acquired 51% of the shares of Yi Er Kang Bio in April 2022, formally entering the collagen industry. Yi Er Kang has animal-sourced collagen production technology, and its main products are collagen sponges and artificial bones. Foreign cosmetics giants are also showing great interest in China's recombinant collagen. In August 2022, Shiseido, a Japanese cosmetics giant, led the investment in Trautec through its PE fund. Trautec, established in 2015, holds multiple patents related to recombinant collagen for cosmetic medical and cosmetic use. This is also the first company that Shiseido has invested in China. With the increasing standardization and regularization of domestic policies, flourishing competition among domestic enterprises, and foreign capital starting to lay out, the recombinant collagen market in China has begun to usher in a golden age.

Beauty and toiletries imported 11.716 billion yuan ($1.6 billion) in the first half of the year, down 23.1% year on year. On July 19th, the news conference on Hainan Province's foreign trade for the first half of 2023 was held in Haikou. According to the statistics from Haikou Customs, the total import and export value of goods in Hainan reached 115.16 billion yuan ($16 billion) in the first half of 2023, surpassing 100 billion yuan ($14 billion) for the first time in the same period in history, with a year-on-year growth of 26.4%, ranking 4th in the country in terms of growth rate. Among them, the export value was 38.2 billion yuan ($5.3 billion), with a year-on-year growth of 45.1%, ranking 3rd in the country. The import value was 76.96 billion yuan ($10.7 billion), with a year-on-year growth of 18.9%, ranking 7th in the country. In terms of imports, consumer goods were the largest imported goods in Hainan in the first half of 2023, with an import value of 22.92 billion yuan ($3.2 billion), accounting for 29.8% of the province's total import value during the same period. The import value of beauty and personal care products in the first half of the year was 1.172 billion ($163.2 million), a year-on-year decrease of 23.1%. The export value of beauty and personal care products in the first half of the year was 94.9268 million yuan ($13.2 million), a year-on-year increase of 430.31%. In addition, it was revealed at the conference that in the first half of the year, the import and export value of Hainan to other RCEP member countries accounted for 32.6% of the total import and export value of goods in Hainan during the same period. Among them, Australia, Indonesia, and Japan were the top three trading partners, with growth rates of 35.8%, 100%, and 22.9%, respectively, mainly importing minerals, coal, cosmetics, and other goods.

Coty is scheduled to be repaid in full by the end of 2023 from cash generated from operations and revolving credit facility liquidity. On July 19th, Coty and its two wholly-owned subsidiaries announced that they will issue $750 million of 6.25% senior secured notes (the "Notes"), which will mature in 2030. The issuance is expected to be completed on July 26th, 2023, and Coty will receive a total revenue of $750 million from the Notes issuance. Coty stated that the net proceeds from this Notes issuance will be used to fully repay the outstanding US dollar loans under its senior secured "Term B" credit facility, which is due in April 2025, and to proportionally repay the outstanding Euro loans under the same credit facility, as well as to pay related premiums, fees, and expenses. The remaining portion of the "Term B" loans will be fully repaid by the end of 2023 using operating cash flows and revolving credit facilities. It is worth noting that on July 18th, Coty announced its plan to sell a 3.6% stake in Wella Company for $150 million, and the cash proceeds from the divestiture will also be used to repay debt.

At the time of acquisition of Procter & Gamble, Tula had revealed that net sales for 2021 were expected to be $150 million. Savannah Sachs, CEO of skincare brand Tula, is set to leave the company. WWD news that Procter & Gamble Beauty confirmed that her resignation will be effective on August 22. Colin Walsh, currently in charge of Procter & Gamble Beauty Professional Division, will serve as interim CEO of Tula. In her post on LinkedIn, Savannah Sachs said, "It’s with mixed emotion that I’m sharing after 5 incredible years with TULA Skincare I’ve decided to move on and find my next adventure.... I’ll be excited to watch Tula continue to grow from afar and want to thank Colin Walsh for helping out as TULA’s Interim CEO as I wrap up my final weeks here and all of our Procter & Gamble partners for supporting me." During Savannah Sachs' tenure, she helped Tula enter the Chinese market. It is reported that Tula entered China during the pandemic in 2022 and opened flagship stores on Chinese online channels such as Tmall Global, Xiaohongshu, and Douyin (Chinese version of TikTok) at that time. Chaileedo found that Tula currently only has an overseas flagship store on the Chinese e-commerce platform Douyin. The best seller is Tula Vitamin C antioxidant brightening moisturizer with price of 459 yuan (64 yuan) and 1,177 units sold. (Credit: from Tula's official store on Douyin) It is reported that P&G acquired Tula in early 2022, and Tula's net sales for 2021 are expected to be $150 million. The brand has been an early advocate of microbiome skincare, and the trend of microbiome skincare has since begun to rise.

On July 18th, Hong Kong beauty retailer Sa Sa International released its annual report for the 23 fiscal year. According to the report, Sa Sa International achieved profitability for the first time since the pandemic, reaching 58.2 million Hong Kong dollars. Meanwhile, Sa Sa International has seen two consecutive years of turnover growth since 2021. On July 18th, Hong Kong beauty retailer Sa Sa International released its annual report for the 23 fiscal year. According to the report, Hong Kong beauty retailer Sa Sa International reported its fiscal year 2023 results on July 18th. The company's sales for the year reached HKD 3.5 billion, representing a 2.6% YoY growth. The gross profit amounted to HKD 1.4 billion, and for the first time in three years, the company achieved a profit of HKD 58.2 million. Following a significant drop in sales from HKD 8.157 billion in fiscal year 2019 to HKD 3.043 billion in fiscal year 2021 due to the pandemic, Sa Sa International has now reported growth in sales for two consecutive years. Achieved profitability for the first time after the pandemic Sa Sa International Holdings Limited, a Hong Kong-based beauty retailer, was founded in 1978 and went public on the main board of the Hong Kong Stock Exchange in June 1997. In its first fiscal year as a listed company (1996-1997), Sa Sa International generated a turnover of HKD 990 million. Over the next five years, the company's turnover steadily grew, from HKD 990 million to HKD 1.439 billion (pre-adjustment) in fiscal year 2001, with a growth of 45.35%. On July 28, 2003, the Mainland-Hong Kong Individual Visit Scheme was implemented, bringing a booming tourism and retail industry to Hong Kong. Sa Sa International cleverly seized this opportunity, and its performance began to soar from fiscal year 2002 onwards. According to its financial reports, Sa Sa International's turnover grew from HKD 1.354 billion (post-adjustment) in fiscal year 2002 to HKD 4.9 billion (pre-adjustment) in fiscal year 2011, a growth rate of 261.94% and a compounded annual growth rate of 15.4% over the ten years. Starting in April 2009, residents with Shenzhen hukou (household registration) could apply for multiple-entry endorsements to visit Hong Kong. This policy stimulated more visits from Shenzhen residents to Hong Kong, and Hong Kong's daigou (purchasing agents) market began to flourish. Sa Sa International again seized this opportunity and achieved its peak sales and performance in the fiscal year 2015. Over the five years from the fiscal year 2011 to the fiscal year 2015, Sa Sa International's turnover surged again, from HKD 4.516 billion (post-adjustment) in fiscal year 2011 to a historic high of HKD 8.419 billion in fiscal year 2015. However, in the fiscal year 2016, Sa Sa International's turnover declined for the first time, dropping by 13.12% to HKD 7.314 billion compared to the fiscal year 2015. But from fiscal year 2017 to fiscal year 2019, Sa Sa International's turnover increased for three consecutive years, returning to HKD 8 billion in fiscal year 2019, reaching HKD 8.157 billion. Then, hit by the COVID-19 pandemic in 2020, Sa Sa International's turnover hit a 15-year low. In fiscal year 2020, Sa Sa International's turnover plummeted by 29.91% from the previous year to HKD 5.717 billion. In fiscal year 2021, the downward trend intensified, with turnover dropping from HKD 5.717 billion to HKD 3.043 billion, a staggering 46.78% decrease. The turnover of just over HKD 3 billion was also a new low in nearly 15 years, lower than the HKD 3.221 billion in fiscal year 2008. Its turnover declined by HKD 5.114 billion in the first two years of the pandemic, which saw a decrease of 62.69%. Meanwhile, as turnover fell sharply, Sa Sa International also posted its first loss in nearly 20 years, with three consecutive years of losses from fiscal year 2020 to fiscal year 2022, reaching HKD 475 million, HKD 359 million, and HKD 344 million, respectively. However, according to its fiscal year 2023 report, Sa Sa International achieved a profit of HKD 58.2 million, its first profit since the pandemic hit. In addition, the company's turnover has grown for two consecutive years since fiscal year 2021. Nevertheless, the turnover in the fiscal year 2023 only increased by 2.6% to HKD 3.5 billion, which only restored the turnover to the level of the fiscal year 2009. The Southeast Asian market is experiencing a big rebound After going public, Sa Sa International began its expansion journey in Asia. In the year of its IPO in 1997, Sa Sa expanded its business to Taiwan, Macau, and Singapore, opening its first stores in these three regions. One year later, Sa Sa International opened its first store in Malaysia. Within two years of going public, Sa Sa had already expanded its business to three new regions. In 2005, Sa Sa International opened its first store in mainland China in Shanghai, marking the beginning of its expansion journey in mainland China and Southeast Asia. According to its annual report, as of the fiscal year 2009, Sa Sa International had a total of 150 stores and counters in Asia, with 64 in Hong Kong and Macau, 10 stores and 23 counters in mainland China, 12 in Taiwan, and 14 and 26 in Singapore and Malaysia, respectively. Five years later, in 2014, Sa Sa International expanded to 280 stores in Asia, an increase of 130. By 2016, it had reached 291 stores, nearly doubling its presence in the region. However, despite continuously expanding its market, Sa Sa International has faced challenges in these regions. Since entering the mainland China market, Sa Sa International reported losses consistently. In 2013, Sa Sa International's financial report showed that its losses in mainland China had narrowed from HKD 31.3 million to HKD 30.1 million as of March 31. This was the eighth consecutive year of losses since entering the mainland China market in 2005. In its fiscal year 2023 financial report, Sa Sa International stated that its losses in mainland China for the entire 2023 fiscal year decreased by 69.2% to HKD 44.5 million compared to the previous fiscal year, while overall operating losses in the second half of the year narrowed significantly from HKD 43.6 million to HKD 0.9 million. One of the important reasons for Sa Sa International's consecutive losses has been the increase in costs due to tariffs since entering the mainland China market. As Hong Kong enjoys the status of a free trade port, cosmetics are exempted from taxes when entering Hong Kong, but tariffs are levied when entering mainland China. Reports have indicated that prices for Sa Sa International products in mainland China are generally 15% to 20% higher than in Hong Kong. In terms of specific store numbers, as of March 31, 2023, Sa Sa International's stores in mainland China have shrunk from 77 in the 22 fiscal year to 37, a reduction of 40 stores. In addition to the mainland China market, Sa Sa International has also faced consecutive losses in the Singapore and Taiwan markets, leading to its direct withdrawal from these two markets. On February 21, 2018, Sa Sa International announced that it would close all 21 stores in Taiwan by the end of March, focusing on developing its business in mainland China, Hong Kong, Macau, and Singapore. Sa Sa International claimed that its Taiwan business had been recording losses for six consecutive years, continuing to be weak. As of January 31, 2018, for the ten months ended, its Taiwan business turnover, calculated in local currency, decreased by 11.5% year-on-year to HKD 154.3 million. When Sa Sa International withdrew from the Taiwan market in 2018, it mentioned the Singapore market as a focus for development. However, just over a year later, on December 2, 2019, Sa Sa International announced its withdrawal from the Singapore market. The announcement stated that the Singapore market had been in a state of loss for the past six fiscal years. As of the six months ended September 30, 2019, Sa Sa International's turnover in the Singapore market was HKD 99.4 million, down 4.6% year-on-year in local currency. Therefore, it decided to close all 22 retail stores in the Singapore market. Looking at the overall number of stores, as of March 31, 2023, Sa Sa International has reduced its stores in Asia to 186, a decrease of 105 from its peak of 291. However, it is worth noting that in the past three years, the performance of the mainland China market has continued to decline, while the Southeast Asian market has seen a big rebound in 2023. According to the fiscal year 2023 financial report, the number of retail stores in mainland China has been significantly reduced from 77 to 37, while the number of retail stores in Southeast Asia has decreased from 72 to 70. In terms of performance, offline sales in mainland China (in original currency) decreased by 22.9% to HKD 220 million, while offline sales in Southeast Asia increased by 64.9% (in original currency) to HKD 300 million. The offline sales in Southeast Asia have already surpassed those in mainland China. Overall, in the fiscal year 2023, the turnover from the mainland China market was HKD 520 million, a year-on-year decrease of 31.1%, and the turnover share also decreased from 22.1% last year to 14.9% this year. The turnover from the Southeast Asian market in the fiscal year 2023 was HKD 372 million, a year-on-year increase of 43.8%, and the turnover share of the entire company's 2023 fiscal year also increased from 7.6% last year to 10.6%. During the reporting period, the turnover from Sa Sa International's online business was HKD 602 million, a year-on-year decrease of 13.5%, with a 33.4% decline in mainland China due to the impact of the pandemic, making it the only region to record a decline. The total online business accounted for 17.2% of the company's total turnover (2022: 20.4%), showing a significant increase compared to the pre-pandemic fiscal year ending March 31, 2019. Overall, the Southeast Asian market has been gradually recovering in the three fiscal years since the pandemic. The journey to reproduce the glory is likely to be long and challenging The decline of Sa Sa International, from its once prosperous state to its current desolation, may be attributed to its heavy reliance on physical retail and its failure to seize opportunities for digital transformation. Sa Sa International was once a shining star, but now it has fallen to the bottom, and one of the main reasons for this is the failure to seize the opportunity of digital transformation. Sa Sa International had already launched its official website in 2000, allowing consumers to purchase products directly on its website without having to go to the store. At that time, domestic e-commerce was just beginning to emerge, and it was also swept away by the Internet bubble at the beginning of the millennium. Sa Sa International did not choose to take a risky move to invest in e-commerce. Since the launch of Taobao in 2003, domestic e-commerce has been developing rapidly. At this time, Sa Sa International had not yet established a presence in the e-commerce business. It was not until 2016 that Sa Sa International signed a cooperation agreement with JD.com, and Sa Sa entered JD Worldwide to develop its e-commerce business in the Chinese mainland market. In 2017, Sa Sa Micro Store began its operations. In the same year, Sa Sa International's Tmall Global, Koala, and Xiaohongshu online stores opened for business. In 2018, Sa Sa International cooperated with Tmall Global Buy. In 2019, it launched its WeChat mini-program. Even more delayed, it was not until 2020, after the outbreak of the pandemic, that Sa Sa International partnered with Shopee to open its first online store in Southeast Asia. In 2021, like a belated attempt to save a lost sheep, Sa Sa International opened its first online store in Lam Tin Plaza, launched its overseas flagship store on Douyin, and released updated shopping websites and mobile applications for the Hong Kong Special Administrative Region. It was not until 2022, two years after its withdrawal from the Singapore market, that Sa Sa International opened its first online store in Singapore. Looking at the process of Sa Sa International's digital transformation, it seems more like a belated attempt to remedy the situation, and it did not actively keep up with the market changes in a timely and proactive manner. As other brands succeed in their digital transformation and shopping patterns change, consumers are no longer overly dependent on offline shopping. The impact of the pandemic is only temporary. After the industry recovers, there will be significant rebounds, such as the giants of the domestic cosmetics industry, Pechoin and Shanghai Jahwa, whose net profits are expected to increase by up to 65% and 100% respectively in the first half of 2023. In contrast, Sa Sa International's turnover growth in the 2023 fiscal year was only 2.9%, and its turnover declined by as much as HKD 5.114 billion, a decline of 62.69%, in just two years. The significant decline in Sa Sa International's performance is not only due to its failure to achieve digital transformation promptly but also to its failure to effectively integrate into the local market, simply copying the business model of its Hong Kong stores. At the same time, competition from Sephora, Watsons, and local beauty retailers also put pressure on it. Unlike Sephora's high-end positioning and Watsons' low-price route, Sa Sa International's awkward positioning also affected its performance. In addition, excessive reliance on domestic tourists is also a reason for its significant decline in performance. On July 28, 2003, the policy of mainland tourists traveling to Hong Kong on individual visas was officially implemented. As a low-tax free trade port, Hong Kong undoubtedly became a famous shopping paradise around the world. Sa Sa International quickly took advantage of this advantage and attracted a large number of mainland tourists to visit, thus achieving significant growth in performance. At the same time, starting in April 2009, residents of Shenzhen can apply for multiple entry permits to visit Hong Kong, which has stimulated an increase in the number of Shenzhen residents visiting Hong Kong. At the same time, Hong Kong's purchasing agents also began to flourish, promoting Sa Sa International's performance growth. In fiscal years 2014 and 2015, Sa Sa International's turnover reached a historic high, taking advantage of the policy dividends of mainland tourists traveling to Hong Kong in 2003 and Shenzhen residents being able to apply for multiple entry permits to visit Hong Kong in 2009. According to its financial report, Sa Sa International's sales contribution from mainland tourists is more than 70%, far exceeding the sales contribution of local Hong Kong consumers. This abnormal turnover structure has also brought pressure on Sa Sa International, which is increasingly dependent on domestic tourists. After the "one sign, multiple entries" policy for Shenzhen residents to visit Hong Kong was changed to "one week, one entry" after its expiration in 2015, the number of domestic tourists visiting Hong Kong began to decline. At the same time, the popularity of tourist destinations such as Korea and Japan has also led to a continued reduction in mainland tourists, further impacting Sa Sa International's performance. In summary, Sa Sa International's decline can be attributed to a combination of factors, including its failure to keep up with the digital transformation trend, its awkward positioning in the market, its over-reliance on domestic tourists, and increased competition from other beauty retailers. Meanwhile, Sa Sa International has seen two consecutive years of revenue growth since 2021.

According to research results, PITERA™, a natural ingredient made from SK-II's proprietary yeast fermentation process, reduces "AT-0"2 and prevents the aging chain reaction, keeping skin looking younger. Today (July 20), SK-II debuted new discoveries about skin aging, launched innovative products, and established the first PITERA™ Science Expert Panel comprised of the world's leading dermatologists, according to PR Newswire. At the 2023 World Congress of Dermatology in Singapore, Alexa B. Kimball, Professor of Dermatology at Harvard Medical School, presented findings from a collaborative research article journal with scientists from world-renowned research institutions. SK-II's latest discovery is that the aging trigger factor "AT-0"2 accelerates the signs of aging through a chain reaction, even as early as the 20s. If left untreated, the aging chain reaction can lead to accelerated signs of aging, which can lead to more serious signs of premature aging. According to research results, PITERA™, a natural ingredient made from SK-II's proprietary yeast fermentation process, reduces "AT-0"2 and prevents the aging chain reaction, keeping skin looking younger. Following the World Congress of Dermatology, SK-II established the first PITERA™ Scientific Expert Panel to recognize some of the world's top dermatologists who have partnered with SK-II to advance the science of skin aging. These include Hong Xianglei, Professor of Dermatology at Huashan Hospital, Shanghai Medical College of Fudan University, Wu Yan, Professor of Dermatology at Peking University First Hospital; Kenji Kabashima, Professor and Director of Dermatology at Kyoto University Graduate School of Medicine, Gaku Tsuji, Associate Professor of Dermatology at Kyushu University Graduate School of Medicine; and Masutaka Furue, Professor of Dermatology at Kyushu University Graduate School of Medicine. Furue. In addition, SK-II celebrated the establishment of the PITERA™ Scientific Expert Panel with the launch of SKINPOWER Advanced Cream, a new anti-aging product inspired by the discoveries and findings of skin aging research. SKINPOWER Advanced Cream Sue Kyung Lee, CEO, Global SK-II shared "A breakthrough of the Aging Trigger Factor as the root cause of accelerated skin aging with the launch of our new SKINPOWER Advanced Cream and our strong commitment to continue advancing skin science with our first-ever PITERA™ Science Expert Panel. We look forward to working closely with our partners to bring more breakthrough innovations to consumers with PITERA™."

In 2022, gross margin performance of Jinbo Bio. has surpassed Bloomage Biotech, Trauer Biotech, and Vazyme. It exceeded the average as well as Giant Bio., which is already listed on the Hong Kong Stock Exchange. Today (July 20), Shanxi Jinbo Biopharmaceutical Ltd. (stock abbreviation: N Jinbo) goes public in the Beijing Stock Exchange, stock code "832982". The opening price is 117 yuan ($16.3) / share. The total market value of 7.878 billion yuan ($1.1 billion). Thus, "the first stock of recombinant collagen on the Beijing Stock Exchange" was officially established. Net profit of 181% increase in Q1 of 2023 It is understood that Shanxi Jinbo Biopharmaceutical Ltd. (hereinafter Jinbo Bio.) was established in March 2008. The company's main business is various types of medical devices, functional skin care products, research and development, production and sales based a recombinant collagen products and anti-HPV biological protein products. It has established the whole industry chain business system from the upstream functional protein to the medical equipment, functional skincare products. As of the signing date of the prospectus, Yang Xia directly holds 64.33% of the shares of Jinbo Bio and is the controlling shareholder and actual controller of the company. Public information shows that the issue price of Jinbo Bio is 49 yuan ($6.8)/share. In fact, in the process of IPO, Jinbo Bio. has twice lowered the company's offering price, from 117 yuan ($16.3)/ share down to 50 yuan ($7)/ share, and then again down to 49 yuan ($6.8) / share, the company's offering price-earnings ratio of 32.44 times. It is reported that Jinbo Bio. plans to raise 470 million yuan ($65.4 million), of which 200 million yuan ($27.8 million) will be used for the R&D project of recombinant humanized collagen protein new materials and injection products, 150 million yuan ($20.9 million) for brand building and marketing projects, and 120 million yuan ($16.7 million) to supplement the company's working capital. Successful listing on the Beijing Stock Exchange of Jinbo Bio. is due to its impressive performance. According to Jinbo Bio. financial reports from 2018 to 2022, the company's revenue was 129 million yuan ($18 million), 156 million yuan ($21.7 million), 161 million yuan ($22.4 million), 233 million yuan ($32.4 million), and 390 million yuan ($54.3 million), with year-on-year growth rates of 25%, 21.77%, 3.42%, 44.75%, and 67%, respectively. Net profits were 45.5 million yuan ($6.3 million), 42.18 million yuan ($5.9 million), 32.27 million yuan ($4.5 million), 56.9 million yuan ($7.9 million), and 109 million yuan ($15.2 million), with year-on-year growth rates of 31.57%, -8.7%, -23.8%, 79.62%, and 90%, respectively. (Data source: Jinbo Bio. Credit: CHAILEEDO) It is worth mentioning that in the first quarter of this year, the revenue of Jinbo Bio. increased by 98.28% year-on-year to 128 million yuan ($17.8 million), and net profit increased by 180.94% year-on-year to 43 million yuan ($6 million). The net profit of just one quarter is equivalent to the full-year net profit of 2019. It is easy to see that Jinbo Bio. is in a steady growth trend. Recombinant collagen products account for over 80% of revenue, with gradual improvement in gross margins It is reported that Jinbo Bio. undertakes main business includes two categories: recombinant collagen protein products and anti-HPV biological protein products. In the field of recombinant collagen protein products, the company's main products include recombinant Type III humanized collagen protein lyophilized fibers, wound and mucosal repair dressings, functional skincare products, etc. Its main products in the field of anti-HPV biological protein products include anti-HPV biological protein dressings. In terms of revenue composition, the proportion of revenue contributed by recombinant collagen protein products has been increasing year by year. According to the prospectus. From 2020 to 2022, this category of products achieved revenue of approximately 101 million yuan ($14 million), 163 million yuan ($22.7 million), and 334 million yuan ($46.5 million), with proportions of 62.96%, 69.81%, and 85.6%, respectively. (Credit: from Jinbo Bio.) Within the recombinant collagen protein category, its functional skincare products achieved revenue of 54 million yuan ($7.5 million), 70 million yuan ($9.7 million), and 66 million yuan ($9.2 million) from 2020 to 2022, with proportions of revenue of 33.89%, 30.1%, and 16.91%, respectively. It is reported that the company's functional skincare products mainly include recombinant collagen protein essence, recombinant collagen protein mask, recombinant collagen protein cream, etc. The company's own brands include 164.88°Jipin, Chongyuan, etc. Jinbo Bio. stated that its future plans are mainly focused on the R&D of the core material of recombinant humanized collagen protein for various medical and daily skincare scenarios, adopting a development strategy of "biological new materials + medical scenario applications + daily skincare scenario applications", committed to the R&D and industrialization of various types of recombinant humanized collagen protein biological new materials, and continuously expanding their use in various medical and daily skincare scenarios, from surface to body cavities and internally. It is reported that main business revenue of Jinbo Bio. can be divided into two sales models: OBM and ODM. From the revenue generated by the above two sales models, over 80% of Jinbo Bio. revenue comes from the OBM model. From 2020 to 2022, the company achieved operating revenue of approximately 128 million yuan ($17.8 million), 181 million yuan ($25.2 million), and 344 million yuan ($47.9 million) under this model, with proportions of 79.67%, 77.66%, and 88.12%, respectively. (Credit: from Jinob Bio.) It is worth noting that compared to comparable companies in the same industry, the gross margin of Jinbo Bio. is also relatively outstanding. According to the prospectus, compared with five comparable companies in the same industry, in 2022, gross margin performance of Jinbo Bio. has surpassed Bloomage Biotech, Trauer Biotech, and Vazyme. It exceeded the average as well as Giant Bio., which is already listed on the Hong Kong Stock Exchange. (Credit: from Jinbo Bio.) The overall high gross margin is related to the high gross margins of Jinbo Bio two main categories of products. Especially in the field of recombinant collagen protein products, according to the prospectus, from 2020 to 2022, the gross margin of this product increased from less than 80% to 86.05%, while the gross margin of anti-HPV biological protein products has remained above 86%. Jinbo Bio. stated that the increase in gross margin in 2021 and 2022 was mainly due to the increased sales proportion of the third category of medical device products, "recombinant Type III humanized collagen protein lyophilized fibers", which has a higher gross margin. (Credit: from Jinbo Bio.) In addition, as a high-tech enterprise, Jinbo Bio. attaches great importance to R&D. According to the prospectus, as of the end of the reporting period, Jinbo Biotechnology had a total of 147 R&D personnel, accounting for 23.82% of the total number of employees. In the past three years, the R&D expenditures of Jinbo Bio. have shown an increasing trend year by year. According to the prospectus, from 2020 to 2022, its R&D expenditures were 23.77 million yuan ($3.3 million), 29.07 million yuan ($4 million), and 45.41 million yuan ($6.3 million), accounting for proportions of revenue of 14.74%, 12.45%, and 11.64%, respectively. In terms of R&D investment ratio, compared with five comparable companies, the R&D investment ratio of Jinbo Bio. in 2020 to 2022 was far higher than the industry average for three consecutive years. Jinbo Bio. stated that this is mainly because the company is a biological material enterprise driven by core innovation in functional protein systems, and the company continues to increase its R&D investment, resulting in significant growth in R&D investment. (Credit: from Jinbo Bio.) According to the prospectus, under strong investment in R&D, Jinbo Bio. currently has 41 authorized patents in China, including 31 invention patents. Recombinant collagen is in a craze It is reported that there are about 19 major collagen production companies in China, most of which are animal-based collagen companies. Since 2000, recombinant collagen companies are popular, most of which not only have raw material businesses for recombinant collagen, but also actively deploy downstream areas such as medical beauty, skincare, and food. According to a research report by Everbright Securities, "the collagen market in China has entered a golden growth period. Compared with animal-based collagen, the growth potential of recombinant collagen is greater." According to Frost Sullivan, it is estimated that by 2027, the overall market size of collagen in China will reach 173.8 billion yuan ($24.2 billion), of which the market size of recombinant collagen products will be 108.3 billion yuan ($15.1 billion), accounting for 62.3%. More importantly, compared with international companies, Chinese companies represented by Giant Bio. and Jinbo Bio. have taken the leading position in academic research and commercialization of recombinant collagen, and have taken the lead. For example, Gaint Bio. was successfully listed on the Hong Kong Stock Exchange, and now Jinbo Bio. has also rung the bell on the Beijing Stock Exchange. In addition, enterprises such as Trauer Biotechnology are in the queue for IPO. Last August, Trautec completed nearly 200 million yuan ($27.8 million) in Series A financing, led by Shiseido’s Ziyue Fund. The popularity of the recombinant collagen sector is evident, and there is a great potential for explosive growth in this field. In fact, as far as the Chinese domestic market is concerned, the collagen market is expanding and growing faster than the global market. According to data from CHAILEEDO, the market size of recombinant collagen in China in 2022 was 18.5 billion yuan ($2.6 billion), a year-on-year increase of 71.3%. In terms of products, functional skincare products account for 43% of the market size of recombinant collagen, and medical dressings account for 44%. It is expected that by 2023, the market size of functional skincare products of recombinant collagen will surpass medical dressings and reach 14.25 billion yuan ($2 billion). "China is expected to overtake international brands in the field of recombinant collagen." Many industry veterans have such views. With leading enterprises entering the capital market, upstream and downstream enterprises in the industry chain are constantly deploying recombinant collagen in different fields and application directions, and the Chiense domestic recombinant collagen market is expected to further develop. For example, Jinbo Bio. successfully developed recombinant type III human collagen, which is currently the only injectable recombinant type III human collagen biological medical material. At the same time, Jinbo Bio. has developed three types of medical device products "recombinant type III human collagen lyophilized fibers" using this material as the only component, which was approved by the National Medical Products Administration for listing in June 2021 for facial wrinkle correction. As far as Jinbo Bio. is concerned, the biopharmaceutical and biomaterial industry that it is in belongs to is a key development industry in China's 14th Five-Year Plan. In January 2023, the National Medical Products Administration issued Announcement No. 14 of 2023 on the industry standard YY/T 1888-2023 "Recombinant Human Collagen", and the industry standard for recombinant human collagen was officially formed. This has further promoted the benign development of the recombinant collagen sector. Correspondingly, in the fast-growing sector of recombinant collagen,successful listing of Jinbo Bio also means that it has taken the lead. At the same time, with the help of the capital market, the company is bound to enter a new period of high-speed development.

Up to now, there are 395 cosmetics testing companies in China. A few days ago, Shanghai Yuyuan Tourism Mall (Group) Co., Ltd (hereinafter referred to as: Yuyuan Inc.) announced that its cosmetic testing center was certificated by China National Accreditation Service for Conformity Assessment. Some senior industry professionals commented on this, "Cosmetic testing centers are almost a mus-have for cosmetic companies." In fact, CHAILEEDO noted that, up to now, the number of cosmetics testing companies increased to 36, while brands, OEM/ODM, raw materials companies also opened their own testing centers. The cosmetics testing services has indeed become the must-have for beauty companies. The cosmetics testing companies increased 36 Following the acquisition of international beauty brands AHAVA, WEI, and incubation of their own brand YoganDerma, listed companies Yuyuan Inc. began to get involved in the field of cosmetics testing. On July 17, Yuyuan Inc. formally announced that the testing center, Xingzhiyumei (Shanghai) Biotechnology Limited Company, formed by Fosun Cosmetics Innovation Center under Yuyuan Inc. has obtained a laboratory certificate issued by China National Accreditation Service for Conformity Assessment (hereinafter referred to as "CNAS"). It is understood that Fosun Cosmetics Innovation Center has been involved in a number of experimental areas, including physical and chemical testing, formulation, stability, human efficacy evaluation, instrumental analysis, etc. The scope of testing capacity involves 7 major areas of the 11 test standards in the 16 projects. This is just a microcosm of the cosmetic companies have been involved in the field of testing. According to the National Medical Products Administration published the information of cosmetics testing companies, in 2020, due to the introduction of new regulations, the demand of cosmetic testing exploded. The cosmetics testing companies also ushered in a growth peak, since then the growth rate of cosmetics testing companies gradually slowed down. And as of July this year, there are 36 new cosmetic testing companies which is close to half of the number of new organizations in the year 2020. Cosmetic testing organizations have ushered in a small peak of growth. As of now, there are 395 cosmetic testing companies. On the publicly available information, according to the company's background, this year's new cosmetic testing organizations mainly include institutions, third-party testing organizations, research institutes and cosmetic companies associated companies. For example, Wuhan Customs Technology Center, Wenzhou Market Supervision And Administration Bureau, Changshu Product Quality Supervision and Inspection Institute, Qingdao Customs Technology Center and other institutions have gained cosmetics-related testing qualifications. Bureau Veritas International Inspection Group, Standard Testing Group, Tongbiao Standard Technical Services Co., Ltd, RID testingcertification(RID) and other large testing companies, branches or subsidiaries have also added cosmetic testing qualifications. In short, a number of large companies engaged in food, agricultural products, environmental testing services are expanding cosmetics testing services. It is worth mentioning that this year, cosmetics-related companies such as raw materials, OEM, brands and research institutes have also added cosmetics testing business through subsidiaries or affiliates. For example, Huiwen Testing (Shanghai) Co., Ltd. is a subsidiary of Shanghai Huiwen Biotechnology Co., Ltd. which is an enterprise engaged in the research of biopolysaccharides, biological compounds, biological proteins and other biotechnology products and intermediates, and owns cosmetic raw materials such as Tremellam and taurine. Cosmax (Shanghai) Testing Technology Co., Ltd. is a subsidiary of Cosmax (China) Cosmetics Co., Ltd., which is the head OEM company in the cosmetic industry. Guangdong Jingke Testing Technology Research Co., Ltd. is a subsidiary of GD LCHEAR Cosmetics Co., Ltd. which is a well-established makeup OEM in the industry. Zhuoyan Testing Company Ltd. is a grand-company of Hunan S’Young Investment Co., Ltd. and an affiliate of S’Young. As for the specific test items to obtain accreditation, in addition to heavy metals, microorganisms, pH value and phenylenediamine, salicylic acid and other components, there are 15 companies have obtained the human body test, cosmetic efficacy of the relevant test qualifications, including the human skin patch test, the human trial test of the safety evaluation, as well as cosmetic sunscreen index (SPF value) determination, sunscreen cosmetic waterproofing performance determination, as well as the blemish whitening effect of the test, the effectiveness of the test to prevent the hair loss, and so on. Empowering R&D and Customers As we all know, with the promulgation and implementation of Standards for Cosmetic Efficacy Claim Evaluation, the market of cosmetic testing has ushered in an explosive period and the cosmetic testing companies have shown a spurt of development. However, starting from 2022, the cosmetics testing business has cooled down due to weak consumption, reduced demand for new product testing, and falling testing prices. For example, in June 2022, due to losses in the testing business, Zanyu Technology, a leading surfactant company, sold 55% of its testing company at a 70% discount and divested its testing segment business from their business. So why is there still significant growth in cosmetic testing cosmetics this year that is highly competitive in beauty industry ? Guangdong Shangpinhui Cosmetics Co., Ltd. makeup R&D director Lin Lijun said that the growth in cosmetics testing companies in this year is mainly in two aspects. Based on the former services such food, large testing companies expand the cosmetics testing service, which reflects the fierce competitiveness in this sector. On the other hand, with the cosmetic industry regulation into the deep water, the regulation of the more and more detailed, the cosmetic industry chain on the raw materials , factories and brands have begun to increase self-examination and self-correction through the way of self-built testing organizations. Bode Chuangyan Biotechnology (Guangdong) Limited general manager Wang Jing said: "The testing industry is getting more and more competitive. Some companies think it is profitable. Some companies is for their better services." A industry insiders said a well-known OEM in Guangzhou has opened two testing companies. "Perhaps, they are for their own products. It can save time." The insider said. Talking about COSMAX self-built cosmetic testing company, Shen Yingjie, assistant general manager of COSMAX (China) Cosmetics Co Ltd, also said that it is not a main business for COSMAX, but is done as a help for the ODM. "Our starting point is to serve the company internally, and then to provide value-added services to our customers. After the new regulations, there is no efficacy test report, filing, publicity will be affected. If the testing can not keep up, it is a bottleneck for brands. In that case, we set up a specialized testing company." He further said. Some industry insiders also said that the role of cosmetic testing does not only include product filing, efficacy publicity, etc., but also for raw materials and product development services. Some raw material companies, foundries, brand testing centers will have such a function. NOA Testing sales director Cheng Meimei told CHAILEEDO that t a lot of factories can do their own testing services this year. Many customers have also established their own laboratories, mainly for research. Shen Yingjie also said that the newly established testing companies can also serve R&D, such as helping with efficacy corroboration, formula effect verification, and research on skin conduction mechanisms, etc. In January this year, Symrise China Innovation Laboratory was officially opened in Shanghai, which includes clinical efficacy evaluation laboratory, microbiology laboratory, formulation and application laboratory, and so on. According to Symrise, the main functions of the innovation lab include two aspects, one is to feel out the unknown system including formula system and efficacy evaluation system, and to form the formula and efficacy evaluation standard which is more suitable for Chinese consumers. The second is to provide support for the actual project, to provide customers with higher standard and more scientific efficacy evaluation, to provide the pre-testing before the three-party test and the dissemination of C-suite materials, etc., and to assist new products to be listed. The second is to provide support for actual projects, providing customers with more standardized and scientific evaluation of efficacy, providing pre-testing and C-end communication materials before three-party testing, and helping new products to be listed. From this point of view, in addition to regard the testing cosmetics business as a main business for profit, the purpose of the cosmetic industry chain enterprises deploying testing cosmetics also includes R&D services for enterprises, to provide additional services for customers. The next step: endorsement, scientific research, innovation Looking at the entire cosmetics testing market, the third-party testing organizations to face the pressure of competition is also greater. Some industry insiders said that the first two years of testing demand outbreak is mainly because a large number of products need to make efficacy addendum. This year, this demand is basically no longer available. More new products need to be filed. Now the frequency of new product launching are also reduced. The overall demand declined in the factory. The brand can do their own testing services. The orders of third-party testing companies naturally reduce. But in the opinion of Wang Jing, now notice the strict investigation of "one license for multiple use", the demand for testing will grow, but the price of testing is lower and lower. "For example, whitening spot detection, early last year the market price is still 100 million-120 million yuan / unit. In last July, it fell to about 60,000 yuan and now the price 40,000 yuan is also common." And with more and more OEM companies, brands build their own testing companies, it further affects the order volume of testing companies. An OEM responsible person also told CHAILEEDO: “after we set up a testing company, a lot of testing can do it ourselves and do not need to find a third-party testing. Only the busy time we will find a third-party organization outsourcing. So, how should the testing companies survive? Wang Jing told CHAILEEDO, foundry enterprises, brands that began to do testing will certainly dilute the amount of testing. But there are hospitals and other strong background backing as well as SGS-certified testing organizations are unlikely to be affected. "It's all the same qualification, and people are definitely willing to choose bigger companies." He further said. In addition to gaining more endorsements for themselves, some testing organizations are no longer limited to product efficacy testing, and have begun to get involved in the R&D, cooperating with companies in basic research, product development, and front-loading testing services. According to the China Light Industry Federation Cosmetic Efficacy Evaluation Inspection and Testing Center (Beijing) Director Wu Jinhao, his testing center is now not only doing compliance services, but also doing more in-depth cooperation in scientific research with enterprises. "The core is still scientific and technological innovation. Through the introduction of new technical means, assessment means, from the basic research, pre-product research and development stage, we can carry out more cooperation with the enterprise, as well as in the test results of the digital visualization of the display of more innovation, etc. Ultimately it can empower for the efficacy of the products." To summarize, when the efficacy is in the trend, the cosmetic testing also steps into the "scientific era". It began to penetrate the product from R&D to market. The dissemination of all aspects of raw materials, foundries, brands and testing organizations are also using their own scientific and technological resources for the empowerment of the product, together telling the story of the efficacy and science to consumers.

Industry insiders believe the brand will reach about $2 million in retail sales in 2022. Irene Forte Skincare has received a minority investment from L Catterton, according to WWD. Specific terms of the deal were not disclosed at this time. Irene Forte Skincare is the eponymous skincare brand founded in 2018 by Irene Forte, who is reportedly the daughter of Sir Rocco Forte, the head of Trusthouse Forte, the UK's largest hospitality giant. The brand was initially founded as a brand dedicated to the spa at her father's hotel. After the pandemic outbreak, the spa was forced to close and the brand turned to retail. The brand is said to be certified as a vegan and co-beneficial enterprise and is currently available at select retailers around the world, including specialty retailers and department stores such as Bluemercury, Amazon Luxury, Bergdorf Goodman, Saks Fifth Avenue and etc. The brand refused to provide sales figures. But according to WWD, its sales are up 100% year-over-year. Industry insiders believe the brand will reach about $2 million in retail sales in 2022, with the U.S. market accounting for a third of revenue. “The business has done extremely well with 100 percent growth year-on-year, but it was never heavily funded,” said Forte of the decision to team up with L Catterton a few years after raising a seed round led by an angel investor. Irene Forte Skincare said the partnership with L Catterton will put a strategic focus on expanding the business and growing the team, which launches in the U.S. and throughout Europe in 2021. (Credit: Irene Forte Skincare official website) Michael Farello, Managing Partner of L Catterton's Growth, said, "Irene Forte Skincare is a very unique brand that is quickly building a reputation as a sustainability pioneer in the beauty industry, while utilizing the power of natural ingredients and the highest standards of scientific research. " Fund. "We look forward to working with Irene and the team to achieve long-term growth and continue their track record of fast-paced, industry-leading innovation." L Catterton's current and past beauty investments include Tula, Merit, Oddity (parent company of Il Makiage), Bliss, Function of Beauty, The Honest Company, Elemis, Nutrafol, Intercos and Marubi.

Estee Lauder initially determined that hackers had accessed some data from the company's systems, and the company is working to investigate the scope of the stolen data. Today (July 19), according to media reports, Estee Lauder found a cybersecurity incident involving an unauthorized third party access to some of the company's systems. Estee Lauder said on its official website that it shut down some of its systems immediately after discovering the hack and quickly launched an investigation in conjunction with law enforcement officials. (Credit: from Estee Lauder's official website) Based on the current situation, Estee Lauder initially judged that the hackers had obtained some data from the company's systems, and the company is trying to investigate the scope of the stolen data. Regarding the hacking incident, Estee Lauder said that it is doing its best to restore the affected systems, but the incident may interfere with the operation of some of the company's businesses.

The global revenue of Sephora is said to be expected to reach 13 billion euros ($15 billion) this year. In order to achieve its sales targets in the next few years, Sephora, the cosmetics retailer owned by LVMH Group, is considering reforming its China business, with plans to select a new head of its China operations as early as this year and to consider improving its services to high-end customers, according to people familiar with the matter, Bloomberg news said. Sephora is said to be on track for global revenue of 13 billion euros ($15 billion) this year. However, the company's business in China has been sluggish due to fierce competition in the country's cosmetics industry, and executives are looking to appoint a new manager to lead the next phase of growth. Sephora sees the business potential of the Chinese market as central to its goal of achieving €20 billion in annual global sales within five years. According to public information, the current president of Sephora Asia is Alia Gogi, who took office in 2020, and the general manager of Sephora China is Maggie Chan (Chen Bing). According to LVMH's Q1 2023 financial report, the group's sales rose 17% year-on-year to €21 billion in the three months ended March 31, with organic revenue posting a 17% increase. Notably, the selective retail division, in which cosmetics retail brand Sephora is based, was the strongest performer, with sales rising 30 percent to 3.961 billion euros. Sephora China's revenue in 2020 and 2021 will be $9.264 billion and $10.877 billion, respectively, and its profit will be $432 million and $431 million, respectively, according to the earnings report. A Sephora representative had no comment, and parent company LVMH did not respond to a request for comment.