New products and stores to be launched during the cosmetics festival
Shanghai's annual International Cosmetic Festival has begun as part of the citywide Double Five Shopping Festival.
The festival this year takes place both in the real world and in the metaverse space. Many new products and stores will open between now and September 30.
They include serums, lipsticks, and facial masks from international brands like L'Oréal, Sisley and Fenty Beauty, as well as domestic companies like Maogeping, Simpcare and Glowsis.
In addition, on September 9, the first Prada perfume store in China, the first Achmique specialty store of beauty products in Shanghai, and stores of popular emerging brands such as Baum, Hourglass, and Etat Libre D'Orange will open on the newly renovated Beauty Floor on B1 in the Réel Mall.
The festival is being held to promote Shanghai's "beauty economy," which is particularly strong in downtown Jing'an. The district has long been regarded as an excellent starting point for foreign beauty companies seeking to enter the Chinese market.
Kanebo from Japan, La Prairie from Switzerland, doTERRA from the United States, and L'Oréal, Sisley, and L'Occitane from France, among others, have regional headquarters here.
Jing'an announced a series of initiatives aimed at making its Nanjing Road W. location a "global shop window of cosmetics brands."
According to the measures, renowned and competitive cosmetics brands will be eligible for up to 6 million yuan in allowance, if they establish regional headquarters in the district.
The district is also encouraging cosmetics companies to use big data, artificial intelligence, and other advanced technologies to provide customized services, open metaverse platforms and launch NFT products (non-fungible tokens), which are the digital equivalents of real-world items.