L’Oréal Group held the “Riding the Waves of Civilization, Great Beauty Abounds—2023/2024 Annual Development Strategy Annual Communication Conference” in Shanghai.

Jean-Jacques Guiony admitted that compared to the high growth of the past few years, the current “normalization” seems abnormal.

One thing is clear: On is not a luxury fashion brand, but a high-end athletic brand.

Despite Uniqlo’s total store count in China surpassing 1000, ranking first globally, its sales still fall short of the domestic market in Japan.

“The growth rate of the prestige fragrance market indeed exceeds that of the high-end fragrance market. Luxury brands are doubling down on this category.”

In the Chinese market, the Coach brand currently occupies a unique niche that is distinct from traditional European luxury brands, and this gap is unprecedentedly large.

Axel Dumas, who has led Hermès for ten years, rarely shares his latest views on the entire luxury industry and the Chinese market, and provides a detailed analysis of the company’s long-standing development strategy.

In January 2024, the actual sales volume in the mainland China market was very optimistic, and the group was very satisfied.

In terms of mainland China operations, during the fiscal year 2023, Shiseido Group is transitioning from a growth model primarily driven by large-scale promotions to a more sustainable growth model, focusing on value-based brand and product communication to meet consumer demands.

Sales in China for the quarter grew over 20% year-over-year, exceeding management’s expectations and making it the fastest-growing market in Asia.