×
62 323
Fashion Jobs
ATHLETA
General Manager - Butler Plaza (New Store)
Permanent · Gainesville
ATHLETA
General Manager - Hudson Yards
Permanent · New York
ATHLETA
General Manager - Morristown, 30 w. Park Place
Permanent · Morristown
ATHLETA
General Manager - Georgetown
Permanent · Washington
ATHLETA
General Manager - Westfield
Permanent · Westfield
ATHLETA
General Manager - Galleria @ Roseville
Permanent · Roseville
ATHLETA
General Manager - Natick
Permanent · Natick
ATHLETA
General Manager - Newport- Long Wharf
Permanent · Newport
NEIMAN MARCUS
Loss Prevention Investigator- Boston
Permanent · Boston
NEIMAN MARCUS
Sales Manager, Handbags - Orlando
Permanent · Orlando
NEIMAN MARCUS
Product Manager, Checkout
Permanent · Irving
NEIMAN MARCUS
Loss Prevention Investigator
Permanent · Dallas
NEIMAN MARCUS
Sales Manager, Designer Sportswear Selling - Short Hills
Permanent · Millburn
OLD NAVY
Assistant General Manager, Merchandising - Oakridge
Permanent · San Jose
OLD NAVY
Unassigned - General Manager - Mall of The Americas
Permanent · Miami
OLD NAVY
General Manager - Northside Marketplace
Permanent · Nashville
OLD NAVY
External Asset Protection Lead - Solano
Permanent · Fairfield
OLD NAVY
General Manager - Shops at Centerpoint
Permanent · Grand Rapids
OLD NAVY
Loss Prevention Agent - Promenade Diberville
Permanent · D'Iberville
OLD NAVY
General Manager - Rookwood Commons
Permanent · Cincinnati
OLD NAVY
Assistant General Manager - Waterstone Center
Permanent · Cincinnati
OLD NAVY
General Manager - Hilton Head Village
Permanent · Bluffton
Published
Mar 14, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Estée Lauder poised for growth in China thanks to focus on burgeoning millennial market

Published
Mar 14, 2019

With millennials leading growth in China’s booming beauty industry, a recent report from data and analytics firm GlobalData highlights the steps taken by classic American cosmetics company Estée Lauder to appeal to the Middle Kingdom’s increasingly affluent youth.


Estée Lauder has redesigned its marketing in China to appeal to the country's rapidly growing millennial consumer base - Instagram: @esteelauder_hk

 
Despite the ongoing trade war between the US and China, Estée Lauder reported strong sales of $4.01 billion in the East Asian country for the second quarter ended 31 December 2018, last month.
 
According to GlobalData, this success is related to initiatives taken by the beauty company as part of its long-term investment strategy for China, which involves a marked shift in the group’s target market toward a younger demographic.

In particular, Shagun Sachdeva, consumer insights analyst at GlobalData, pointed out the redesign of Estée Lauder’s marketing in the country, as well as the company’s renewed focus on digital engagement and use of social media platforms such as WeChat and Weibo.
 
The analyst further underlined the importance of Estée Lauder’s collaborations with high-profile local celebrities – such as actress and singer Yang Mi and model Liu Wen – in driving brand awareness in the Chinese market, particularly among younger consumers.
 
“With China forecast to emerge as the fastest growing market for the global cosmetics and toiletries industry by 2022, the New York-based company transformed itself from being identified as a brand offering a range of anti-ageing products for older women into a youthful brand that appeals to growing population of young women with high spending power,” explained Sachdeva in a press release.  
 
Having already proved its effectiveness, the strategy should also help position Estée Lauder to take best advantage of the rapidly developing Chinese cosmetics market as it continues to grow in the future.
 
Indeed, statistics from GlobalData show that sales of cosmetics and toiletries in China have increased by 8% from $68.05 billion in 2017 to $73.52 billion in 2018, and this figure is expected to hit $100.30 billion by 2022.
 
Estée Lauder’s progress in China helped drive sales growth of 17% in the group’s Asia-Pacific region in the second quarter, with total-company sales rising 7% to $4.01 billion.

Estée Lauder’s quarterly net income came to $573 million, four times the figure reported by the company in the prior-year period.

Copyright © 2021 FashionNetwork.com All rights reserved.