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We are confident in the long-term development of the group in China and will further increase innovation investment with Estée Lauder China Innovation Research Center as the engine.

This Consumer Expo has attracted over 4,000 brands from 71 countries and regions, divided into multiple exhibition areas including digital and services, global sourcing and sales, jewelry, high-end food and health products, global specialties, fashion lifestyle, and domestic specialty trendy products.

The overall growth of the high-end beauty business in mainland China has slowed down, as evidenced by the current pre-sale stage data for the Double Eleven shopping festival.

Vyrao’s signature product is their 50ml fragrances, priced between $190 and $220. What sets them apart is that each bottle contains a Herkimer Diamond, said to help clear the body’s chakras or energy centers, bringing a flow of spiritual energy.

Estée said it expects a return to sales growth in Mainland China and Asia travel retail in the second half of the year.

This is indicative of how optimistic multinational companies are about the China market as well the potential for development of the Hainan Free Trade Port.

The eye make-up category will achieve the fastest CAGR during 2021-2026, followed by the lip make-up category.