*On June 10, 2021, the 29th meeting of the Standing Committee of the 13th National People's Congress formally passed the "Law of the People's Republic of China on Hainan Free Trade Port", in total eight chapters and 57 articles.
*On June 7, according to the Hainan Provincial Department of Commerce, from June 1, 2020 to May 31, 2021, since the first anniversary of the Hainan Free Trade Port’s construction plan, duty-free shops across the island have sold a total of 45.5 billion yuan in duty-free goods. An increase of 236% year-on-year. The number of tax-free purchases was 8.77 million, a year-on-year increase of 144%. The number of duty-free shopping items was 47 million, a year-on-year increase of 152%.
Dynamics of cosmetic chain stores and imported high-end supermarkets
*On June 6th, Booeem teamed up with the Duoyou brand to create a "Star One Day Store Manager" event at the Dennis Hanghaitiandi store in Zhengzhou. AKB48 Team SH members Liu Nian, Mao Weijia, and Wu Anqi all attended the event, focusing on a lot of popularity for the event and driving store transactions.
*Recently, Chen Xiaodong, CEO of Intime Commercial Group, stated at the Intime Department Store Beauty Festival: In the past three years, Intime Department Store's beauty sales have doubled. In 2020, 13 NO.1 sales store in the world and 18 first NO.1 sales store in the country were born.
*The Sam's Club recently stated that the "Sam Cloud Home" business was launched nationwide, providing outdoor sports equipment and supplies, jewelry, pet supplies, home furnishings, musical instruments, large children's toys and other categories on its self-operated e-commerce platform.
Brand and industry related dynamics
*On June 3, the Hong Kong Stock Exchange disclosed the prospectus for the hearing of Global New Materials International Holdings Co., Ltd., the holding company of Guangxi Qise Pearlescent Materials Co., Ltd., headquartered in Luzhai County, Liuzhou, Guangxi, which means that it will be listed in HK soon.
*Recently, Lamborghini announced the launch of a fragrance series in collaboration with Culti Milano, the famous Italian fragrance manufacturer, "the originator of home fragrance fragrance". The two parties will launch their first fragrance product scent that blends grapefruit, bitter orange, bergamot, cedar wood and sandalwood in June. The fragrance bottle is printed with the logos of Lamborghini and Culti Milano, and is equipped with Culti Milano's iconic rattan diffuser.
*On June 2, the official website of the Guangdong Securities Regulatory Bureau revealed that the decision to issue a warning letter to shareholders of Guangdong Marumi Biotechnology Co., Ltd. holding more than 5% of the shares illegally reduced their holdings.
*On June 9, the “Pinguan Supply Chain x Emerging Brand Matchmaking Conference·Effective Skin Care Special Session”held by Pinguan APP was held in Hangzhou. There were 9 high-quality and effective skin care products foundries, more than 70 brands, and more than 120 product managers participated .
*CBNData recently released the "2021 Beauty Industry Trend Insights Report" that the overall growth rate of the beauty industry in 2020 will reach 23%, while the consumption growth rate of cutting-edge beauty products will reach 78%.
*On June 10th, a notice issued by the China Plastic Surgery Association showed that the National Health Commission, the Central Cyberspace Administration of China, the Ministry of Public Security, the General Administration of Customs, the General Administration of Market Supervision, the State Post Bureau, the State Food and Drug Administration, and the State Administration of Traditional Chinese Medicine decided from June to December 2021, the special rectification work for combating illegal medical beauty services was jointly launched, and the "Special Remediation Work Plan for Combating Illegal Medical Beauty Services" was attached.
International Group News
*The capital of L'Oréal Japan, headquartered in Shinjuku, announced on May 31 that L'Oréal's makeup products such as foundations and lipsticks will withdraw from the Japanese business before the end of this year.
*Procter & Gamble launched a new brand focused on sensitive skin-GoodSkin MD, which was released on CVS.com on June 1.
*On June 5th, 2021, on the occasion of World Environment Day, the "Amorepacific China 2020 Social Responsibility Report" was officially released, demonstrating the Group's sustainable development performance in the Chinese market.
*The Estée Lauder Group’s third-quarter 2021 financial report showed that the group’s third-quarter net sales were US$3.86 billion (approximately RMB 24.58 billion) and net profit was US$456 million (approximately RMB 2.9 billion).
*Among them, thanks to the launch of the herbal series Botanical Repair and the double-digit growth of Aveda's online business, net sales of hair care products increased.
E-commerce platform dynamics
On June 8, Tmall officially announced the launch of the time-honored brand expansion plan, indicating that it will continue to invest 1 billion within 5 years to help the revival of the time-honored brand in terms of brand marketing, consumer operations, and new product development.