Affected by the double 11 siphon effect, the overall growth rate of tmall beauty in December was under pressure. According to Taobao data, the overall growth rate of tmall beauty in December 2021 was under pressure. The Gmv of skin care industry was 11.1 billion yuan, a year-on-year decrease of 27%, and the Gmv of color makeup category was 5.6 billion yuan, a year-on-year decrease of 24%. Among them, the corrected sales of Winona is about 100 million; The sales of Proya Cosmetics Co.Ltd(603605) brand under Proya Cosmetics Co.Ltd(603605) is 140 million yuan (+ 8.4%), the early C and late a of double resistance single products drive the increase of customer unit price, and the sales of Caitang is 40 million yuan (+ 72%); The sales volume of Bloomage Biotechnology Corporation Limited(688363) runbaiyan is basically the same as that of last year; Shanghai Jahwa United Co.Ltd(600315) has a sales volume of 200 million yuan (+ 19%); Yuze increased investment in self broadcasting, with sales of 40 million yuan (- 51%); The sales volume of Lushang Health Industry Development Co.Ltd(600223) 's Dr. yu'er is 40 million yuan (+ 71%), and Yilian is 20 million yuan (- 15%).
With the official release of the standard for the quality management of cosmetics production, the importance of cosmetics quality control is highlighted. The cosmetics production quality management specification was officially released and will come into force on July 1, 2022. It requires the registrants, filers and entrusted manufacturers of cosmetics to establish a production quality management system and clarify the responsibilities and authorities of quality management, production and other departments. With the rapid growth of the scale and number of enterprises in the cosmetics industry, some small and medium-sized enterprises in the industry take sales as the guidance, catalyze brand development and weaken product quality in order to share industry dividends. The problems of imperfect production quality management system and low level of product quality and safety control of small and medium-sized enterprises are still common. Therefore, China's cosmetics industry has continuously introduced relevant policies and management norms, requiring manufacturers to establish a quality management system, urging entrusted manufacturers to standardize production behavior, and increasing investment in R & D technology, quality control management and talent introduction. Under the background of continuous improvement of industry standards, the implementation of the policy will benefit Nanjing Cosmos Chemical Co.Ltd(300856) and other companies.
Estee Lauder may raise prices across the board: overcome the problem of rising costs and strengthen high-end positioning. Estee Lauder will raise the agreed retail price of Chinese products from January 28, 2022, covering its brands Estee Lauder, Yari, Clinique, mystery of sea blue, Barbie brown, etc. In recent ten years, Estee Lauder has made frequent price adjustment actions, and the price has changed successively due to cost reasons and the reform of China's cosmetics related taxes and fees. In 2021, the prices of ethylene glycol, titanium dioxide and other raw materials increased one after another, and the overall cost of the cosmetics industry increased. Estee Lauder, as a high-end beauty brand and consumer group, is a high value-added group. This group has low price sensitivity to commodities. At present, the compound growth rate of medium and high-end brands in the Chinese market is more than 15%, while the growth rate of medium and low-end brands is only about 5%. The price rise will or will be conducive to Estee Lauder's high-end positioning and increase sales performance in the case of price insensitivity.
This week's view: tmall beauty's overall growth is under pressure, which further tests the brand's product strength and omni-channel layout ability. It focuses on the head domestic products Yunnan Botanee Bio-Technology Group Co.Ltd(300957) , Proya Cosmetics Co.Ltd(603605) , Bloomage Biotechnology Corporation Limited(688363) with product and operation strength; With the official release of the standard for the quality management of cosmetics production, the importance of cosmetics quality control is highlighted, the industry threshold will be raised, and Nanjing Cosmos Chemical Co.Ltd(300856) with international competitiveness will be recommended.
Risk tip: weak consumer demand as a whole, intensified industry competition, etc
