· 整体"加速度"复苏： 2025年前九个月，集团销售额同比增长3.4%至328.07亿欧元（约合人民币2712.61亿），其 中Q3增速攀升至4.9%，呈现出明确的 "加速度"复苏 信号； · 中、美核心市场复苏： 最大的两大市场——中国大陆和美国持续复苏， 北亚区两年来首次转正 ； · 品类表现分化且强劲： 护发、香水品类持续发力（占销售额30%）；彩妆品类反弹，增速近市场3倍。 · 电商渠道优势巩固： 线上实现 两位数 增长。 欧莱雅集团首席执行官叶鸿慕（Ni c o l a s Hi e r o n imu s）对此表示：" 随着我们进入今年的最后 一个季度，我相信我们将继续超越全球美容市场，实现又一年的销售增长和盈利增长。 " 值得一提的是，在财报发布后的财报会上，叶鸿慕对于"收购阿玛尼"一事表示，由于目前处于 家族哀悼期，暂不推进具体动作，但强调" 与开云的合作不影响对阿玛尼收购选项的考量 "。 此番表态，无疑为欧莱雅奢侈品美妆帝国的未来版图，留下了更为广阔的想象空间。 1 0月2 1日晚，欧莱雅发布2 0 2 5年第三季度业绩报告，再次印证其在动荡市场中的韧性： 从部门表现来看，欧莱雅四大业务板 ...

Core Viewpoint - Bayer's new product, Thiamidol 630, represents a significant milestone in the integration of global research and local market needs, showcasing a model of innovation that combines "German precision" with "Shanghai speed" [3][4][24]. Group 1: Product Development and Market Integration - Thiamidol 630 is the second new whitening ingredient approved in China and the first to receive approval after the implementation of the Cosmetics Supervision and Administration Regulations in 2021, marking a significant achievement in localizing global innovations [5][24]. - The product's development process, referred to internally as the "211 project," took nine years and reflects Bayer's commitment to thorough research and development [5][11]. - The unveiling of the Chinese trademark for Thiamidol 630 signifies Bayer's deepening integration into the Chinese market and its role as a key node in the company's global research network [5][11][23]. Group 2: Research and Innovation Strategy - Bayer's strategy emphasizes a dual approach of "global innovation + local insight," which drives the company's research and development efforts in China [18][21]. - The company has established a comprehensive research framework that includes basic research, clinical validation, and market transformation, creating a closed-loop system that enhances product efficacy and safety [18][21][26]. - Thiamidol 630's clinical data shows significant improvements in skin conditions after 12 weeks of use, demonstrating its effectiveness and safety compared to traditional whitening agents [16][18]. Group 3: Industry Impact and Future Directions - The successful launch of Thiamidol 630 serves as a model for international brands navigating the Chinese regulatory landscape, providing a pathway for future cross-border research collaborations [26][27]. - The product's introduction is expected to shift industry standards towards more scientifically validated approaches in skincare, moving away from traditional models that rely on less effective ingredients [26][27]. - Bayer's commitment to rigorous scientific validation and consumer safety positions it as a leader in the skincare industry, reinforcing its brand strength and market presence in China [27][28].

Core Insights - The 2025 Tmall Double 11 event saw significant sales growth, with 80 brands surpassing 100 million yuan in sales within the first hour, indicating a strong performance from leading brands like Proya and Estée Lauder [3][6] - The promotional strategies have evolved, extending the sales period to over 30 days, with Tmall's pre-sale starting on October 15 and lasting until November 14, marking the longest Double 11 period in history [4][28] - Despite the focus on low prices, competition in content marketing has intensified, with influencers shifting from simple sales pitches to more engaging content that resonates with consumers [4][31] Tmall Performance - Tmall remains the primary platform for brand exposure, with 80 brands achieving over 100 million yuan in sales in the first hour, reinforcing its status as a key battleground for brand performance [6][7] - The pre-sale period saw rapid sales, with Proya reaching 100 million yuan in just one minute, highlighting the platform's effectiveness in driving brand sales [6][7] Douyin Performance - Douyin has emerged as a growth engine, with small influencers contributing over 80% of sales, showcasing the platform's ability to leverage diverse content creators for sales [9][10] - The number of merchants achieving over 100 million yuan in sales through live streaming has increased significantly, indicating a shift towards building sustainable brand presence on the platform [11] Xiaohongshu Performance - Xiaohongshu has successfully created a closed loop from content to transaction, with significant engagement metrics, including over 250 million views on Double 11-related topics within 48 hours [12][13] - The platform's strategy focuses on trust and content-driven marketing, with key influencers achieving high sales volumes, demonstrating the effectiveness of their approach [12][13] Market Trends - The online beauty market has shown a modest growth of 4.8% year-on-year in the first three quarters of 2025, with a notable decline in growth momentum in the third quarter [17][18] - The beauty market is experiencing a shift towards larger brands with strong product and brand power, as consumers become more cautious in their spending [19][22] Category Performance - Fragrance leads the growth among beauty categories with a 17.9% increase, while oral care is the only category showing a decline, indicating a need for new growth stimuli [25][26] - The overall beauty market's performance reflects a bifurcation between slow recovery during regular sales periods and explosive growth during promotional events [32]

Core Viewpoint - The acquisition of Foltène by Juyi Group marks a significant step in the company's strategic expansion in the hair and scalp care sector, aiming to build a comprehensive brand matrix and enhance its global presence in the beauty industry [4][12][29]. Group 1: Acquisition Details - Juyi Group has completed the acquisition of Foltène, an Italian brand with over 80 years of experience in professional hair loss prevention [4][10]. - Foltène is recognized for its strong scientific background, utilizing patented medical formulations and GMP standards in production [6][9]. - The brand has a clear gender distinction in its product lines, addressing the different causes of hair loss in men and women [9][12]. Group 2: Market Potential - The hair loss prevention market in China is experiencing a significant upward trend, with a projected market size exceeding 600 billion yuan by 2025 [13][15]. - The demand for specialized and high-end hair care products is increasing, as consumers are more willing to invest in effective solutions [15][29]. - Juyi Group's CEO expressed confidence in the long-term potential of the hair and scalp health sector due to rising consumer awareness [13]. Group 3: Strategic Significance - The acquisition is strategically important for Juyi Group as it enhances its multi-brand strategy and fills gaps in the mid-range hair care market [17][29]. - Foltène's integration into Juyi Group's portfolio will create a "dual pillar" in the scalp care and hair loss prevention market alongside the existing brand René Furterer [17][29]. - This move reflects a broader trend among Chinese beauty companies transitioning from single-brand growth to multi-brand and global operations [29]. Group 4: Internationalization Efforts - Juyi Group's acquisition of Foltène signifies a shift towards a more mature understanding of internationalization in the beauty sector, moving beyond merely importing brands [19][29]. - The company has established a strong international presence, with operations in markets such as Singapore, Indonesia, and the Middle East, and has seen significant growth in overseas sales [28][29]. - Juyi Group's successful management of the René Furterer brand in China demonstrates its capability to operate international brands effectively [23][29].

1 0月1 9日，开云集团和欧莱雅集团共同宣布，双方将在奢华美容和健康领域建立长期战略合 作关系。 这份具有法律约束力的协议包含三大核心内容： 欧莱雅集团收购Cr e ed品牌、获得开云集团旗下多个标志性品牌的美妆与香水授权，以及双方 成立独家合资企业，探索健康与长寿领域的商业机遇。 在奢侈品美妆的合作上，除了Cr e e d品牌，欧莱雅还将获得古驰（Gu c c i）、葆蝶家（Bo tt e g a Ve n e t a）、巴黎世家（Ba l e n c i a g a）的美妆和香水授权。 其中葆蝶家（Bo tt e g a Ve n e t a）与巴黎世家（Ba l e n c i a g a）的独家授权将在本次交易完成后立 即生效，涵盖研发、生产与分销全流程；古驰（Gu c c i）则需要等到现有与科蒂集团的授权到 期后，欧莱雅才能获得其香水与美妆产品的5 0年独家授权，负责产品研发、生产与分销，且需 遵守开云集团在现有授权协议中的相关义务。 | 核心资产合作详情 | | | | --- | --- | --- | | 资产/合作内容 | 合作模式 | 时间节点 | | Creed品牌 | 欧莱雅收购 ...

Core Insights - Unilever is actively expanding its presence in the Chinese beauty market, showcasing innovative products at the recent 2025 CAME event, including AHC's "salmon water glow" essence and Vaseline's upgraded "snow melting cream" series [2][5] - The company's global beauty and health segment reported sales of €13.2 billion (approximately ¥108.98 billion) last year, indicating its significant market position [3][4] - Unilever's strategic focus under new CEO Fernando Fernandez emphasizes a "shrink and focus" approach, concentrating on 30 core brands and 24 key markets, which contributed over 75% of the group's revenue in 2024 [7][25] Financial Performance - In 2024, Unilever's global revenue reached €60.8 billion, with a profit margin of 15.5%, while the beauty and health segment saw a 5.5% year-on-year increase in sales to €13.2 billion [4] - The company's operating profit margin for the beauty and health segment was 15.0%, reflecting a decline from 17.7% in 2023 [4] Product Innovation and R&D - Unilever's commitment to R&D is evident, with annual investments exceeding ¥8 billion, positioning it as a leader in the global personal care industry [16] - The introduction of Vaseline's "snow melting cream" and AHC's "water glow essence" reflects a deep understanding of consumer needs, with a focus on lightweight and effective skincare solutions [9][10] - AHC's new product line leverages advanced technology to meet consumer demand for high-quality skincare without the drawbacks of traditional treatments [11][13] Market Strategy - Unilever's unified R&D philosophy emphasizes patent technology to build competitive advantages while respecting brand heritage, allowing for distinct brand identities [14][31] - The company has developed a comprehensive AI-driven R&D framework, significantly reducing product development timelines, with 75% of projects in China completed within 6-10 months [23][29] - Unilever's marketing strategy, encapsulated in the "SASSY" framework, focuses on scientific credibility, aesthetic appeal, sensory experiences, community recognition, and a youthful spirit to resonate with consumers [31][32] Localization and Global Impact - Unilever's Shanghai R&D center plays a crucial role in global innovation, with a focus on local market insights and consumer needs, enhancing its competitive edge [27][30] - The company's ability to translate local consumer insights into global innovations positions it as a key player in the beauty industry, with a strong emphasis on long-term sustainability and consumer engagement [32][33]

FUXURE 未来边 IPIEIRIFIECT IDIAISY [比咤火盘] 銮金炎尾妆 沿火新生 叱咤独我 .. . 当中国美妆品牌不再只追逐流行，而是引领趋势，中国创造的力量，正在逐步重塑全球美妆版 图。 在这场由科技驱动的产业变革中，完美日记正以系统研发与文化共鸣，迈出构建中国美妆全球 话语权的第一步。 过去一年，完美日记在"妆养科技"领域持续取得突破性成果，科技成为品牌跃升的核心引擎。 1 .第三代妆养仿生膜科技 Bi o t e c ™ 全面升级 第三代妆养仿生膜科技在前两代的基础上融入"五大诺奖同源科技"，携手2 3所科研机构、4 2 位科学家联合攻关，形成七项核心专利。从第一代" 0 到 1 "的科技革新塑造，到第二代抗老成 果登上全球权威期刊《Na t u r e Me d i c i n e》《Sc i e n c e Bu ll e n ti n》，再到第三代实现全球顶尖 科研成果诺贝尔奖的应用，完美日记已形成系统化的科研迭代体系。 2 .连续两年入围IFSCC 2 0 2 5年9月，完美日记携第三代妆养仿生膜科技及首创「妆养仿生膜 ™ 」明星套装亮相国际化 妆品化学家联合会IFSCC。在 ...

Core Viewpoint - The article emphasizes the long-term commitment of the company, Shiseido, to cultural heritage protection through its partnership with the Dunhuang Research Institute and the China Dunhuang Grottoes Protection Research Foundation, highlighting the integration of modern technology and traditional craftsmanship in preserving the Dunhuang caves [4][9][27]. Group 1: Cultural Heritage Protection Initiatives - In 2019, Shiseido began its involvement in the protection of Dunhuang cultural heritage and has since deepened its commitment through the "Guarding the Caves, Guarding Beauty" initiative, which aims to enhance public awareness and support for cultural heritage [4][7]. - The "14th Five-Year Plan" for cultural development in China has included cultural heritage protection as a national strategy, positioning the Dunhuang caves as a vital link between Chinese and global civilizations [5]. - The company has launched various initiatives, including a documentary titled "Beauty, Not Oxidation," to raise public awareness about the importance of protecting the Mogao Caves [5][7]. Group 2: Innovative Approaches to Cultural Engagement - Shiseido has introduced innovative experiential formats to make cultural heritage protection tangible, allowing participants to engage directly with the restoration processes of the murals and sculptures [16][17]. - The company has collaborated with the Beijing Exhibition Center to expand the influence of its cultural heritage initiatives, reinforcing its brand vision of "Guarding Beauty" [19][21]. Group 3: Long-term Commitment and Brand Philosophy - Shiseido's actions reflect a commitment to corporate social responsibility (CSR), balancing commercial and social values while actively participating in cultural heritage protection [23]. - The brand's focus on scientific skincare aligns with its cultural initiatives, creating a narrative of "dual protection" that addresses both skin health and the preservation of cultural artifacts [26][27]. - Over five years, Shiseido has evolved its approach from simple donations to comprehensive engagement, demonstrating that corporate philanthropy can be a core strategic element rather than an ancillary activity [21][27].

在重组贻贝粘蛋白成功的背后，绽妍作为从公立医院走出来的皮肤学级护肤品牌，一直致力于 融合生物科技与严谨医学，专研问题肌肤「修护」这一核心方向，为肌肤问题提供精准高效的 解决方案，绽妍早已在消费者心中建立了强大专业院线心智。 在 专 业 医 疗 领 域 ， 绽 妍 得 到 6 大 皮 肤 学 权 威 协 会 、 5 0 0+ 皮 肤 学 专 业 人 士 认 可 ， 产 品 走 进 了 1 4 0 0+公立、私立医院和超过2 0 0 0 0家全国连锁药房，位列皮肤科医生临床选择TOP3，这份 来自专业医生的信任背书，成为消费者寻求肌肤修护方案时最关键的决策影响因素。 在中国这个"科研至上"的市场里，成功打造一款深入人心的明星成分，已经成为国货品牌的必 修课。 在数量众多功效蛋白的科研竞赛中，塑造一款"了不起的成分"，离不开庞大的成品市场支撑和 广大的消费者人群基础。在打造明星成分之前打造一个"超级品牌"，成为国货美妆品牌自研成 分走向核心舞台的关键所在。 在市场端，过去的成分党们正变得更加成熟，他们不再执迷于添加量、功效数据，反而对一款 成分的临床验证、本土肤质适配性、科研历程有了更高的期待。 在品牌端，国货品牌 ...

Core Viewpoint - The article emphasizes that Proya is advancing its globalization strategy and gaining recognition in the international beauty market through a focus on technological innovation and long-term commitment [3][4]. Group 1: Globalization Strategy - Proya is positioned as China's first 10 billion beauty company, steadily progressing in its globalization strategy and establishing a presence in the global beauty technology forefront [4]. - The company showcased its global innovation strategy and latest research achievements at the Cosmetic 360 exhibition, signaling its commitment to international expansion [4][5]. Group 2: Technological Innovation - Proya has developed an AI-driven SaaS platform that provides comprehensive solutions for the cosmetics industry, significantly shortening R&D cycles and reducing trial-and-error costs [6]. - The company has integrated AI technology to enhance efficiency in product development, achieving a 50% increase in overall efficiency through the analysis of vast amounts of research literature [8]. Group 3: Research and Development - Proya has established a global R&D framework, including centers in Hangzhou, Shanghai, and Europe, focusing on basic research, application research, and clinical studies [20][21]. - The company has a dedicated team of 389 R&D personnel and has obtained 240 authorized patents, reinforcing its technological capabilities in key areas such as skin anti-aging and green materials [23]. Group 4: Product Innovation - Proya's Ruby Series 3.0, featuring the patented peptide ingredient "Peptide-161," represents a significant breakthrough in anti-aging ingredients, having been approved by the National Medical Products Administration [13][14]. - The Off&Relax series introduces advanced technologies for scalp care, including high molecular magnetic technology to effectively combat harmful bacteria [13]. Group 5: Future Outlook - Proya aims to rank among the top ten global cosmetics companies within the next decade, driven by its dual focus on consumer insights and global technological collaboration [23]. - The company's participation in major international events reflects its strategic positioning and commitment to innovation in the global beauty industry [19].