New products to debut at shopping festival
New beauty products and consumer goods by L’Oreal China, Kanebo, Mary Kay, Adidas, Lego and Shanghai Jahwa will be in the spotlight during the city’s Double Five Shopping Festival.
Top luxury companies such as LVMH Group, Kerring and Richemont are among some 40 companies and 80 home and foreign brands staging 100 product launches in the next month.
As part of the festival, the city’s commerce administration and industry bodies are beefing up efforts to strengthen its position as a top place for the debut of new products and new store openings to boost consumption and new business concepts and formats.
Vice Mayor Xu Kunlin, Shanghai Commerce Commission Director Hua Yuan, Shanghai Deputy Secretary General Shang Yuyung and Jing'an District Director Yu Yong unveiled the monthlong Global New Products Debut Season and Shanghai International Cosmetics Festival.
“We will work on a long-term mechanism to build a preferable business environment for global businesses to launch new products and set up flagship stores and build up consumer sentiment,” Hua said.
Combined sales in the city's online and offline channels surpassed 15.6 billion yuan (US$2.19 billion) in the 24 hours following the launch event on Monday evening, according to China UnionPay, Alipay and WeChat data.