International companies seek local innovation at expo
Local innovation and partnership have been the focus of multinational companies at the fourth China International Import Expo as they can leverage expertise to better serve market demand.
Shiseido's new oral beauty supplement brand INRYU, which was designed specifically for Asian consumers, made its global debut at this year's CIIE.
The supplements will be available in Shiseido stores in Japan in January and through e-commerce sites in China starting in March 2022.
Its hugely popular clean beauty brand Drunk Elephant is also being showcased at the CIIE. It is its first appearance at an offline expo, along with 13 other popular international brands displayed at the booth.
"Under the government's goal of 'common prosperity,' consumer activity in China is expected to flourish even more," said Fujiwara Kentaro, CEO of Shiseido China.
The Shiseido China Innovation Center of Shanghai's Fengxian Branch in the Oriental Beauty Valley, which was officially unveiled last month, is latest presence of the Japanese firm in the city.
It seeks to collaborate with key universities, utility evaluation method research institutes, cosmetics original equipment manufacturers, as well as providers of ingredients, fragrances, and packages.
It's also looking into the research and development of evaluation methods such as the alleviation of skin problems or the duration of the products' effect.
Shanghai is encouraging initiatives from multinational companies to open innovation platforms and leverage their expertise from home and abroad to boost consumption.
Beiersdorf's Nivea brand inked a deal with local beauty information analytics service provider Meizhixiuxing to dig deeper into the skincare industry's demand for effective ingredients and strong efficacy.
Beiersdorf, which also owns skincare brands like Eucerin and La Prairie, seeks to leverage the local data analytical service provider's expertise and digital competence to draw upon consumer insights as it eyes more customized innovation for local shoppers.
Bayer CropScience and local fresh grocery e-commerce platform Benlai.com initiated comprehensive cooperation in fruit production and the establishment of a model fruit farm in China.
Bayer CropScience is providing crop protection for Benlai's fruit bases to help farmers grow premium fruits and cater to emerging consumer demand for quality, healthy, nutritious and eco-friendly fruits.
New offerings that target the singular consumer experience and the latest apparel offerings are also some of the most eye-catching exhibits for the CIIE audience.
Beckmann, a Norwegian company that makes an ergonomically designed school bag, has brought to the expo nearly 10 models of backpacks that offer specific sizes and designs depending on school children's age and height.
Beckmann's backpacks are also available at several dozen local stationery M&G retail shops in the country to allow shoppers to touch and feel the product.
M&G said it sees the great potential of introducing overseas brands through the CIIE platform, and Beckmann's Nordic aesthetics and design elements have been appealing to local demand for backpacks that better protect the spinal cord.