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Chinese Millennials: Coty's New Growth Opportunity

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While Coty is finding success with retail cosmetics sales in China––all companies are expected to total $7.4 billion in 2021, according to an article from seekingalpha.com––the company is citing growth in the Chinese millennial market as an “added bonus.”

The article explains…

  • While Chinese women have not used foundation, mascara or eye shadow much in the past, Chinese millennials have no issue using cosmetic products such as these.
  • A major catalyst for growth in the Chinese market has been social media and cosmetics tutorials, this has proven to be influential in the purchasing of the industry’s most expensive brands.
  • The market leader in the region is L’Oréal followed by EL.

Coty explains that while they are not the leader in the Chinese cosmetics market, they see it as a growth opportunity and will join many cosmetics brands targeting young Chinese consumers.

For the full article please visit www.seekingalpha.com