当新年的钟声又一次拂过这片土地，当日历再一次翻开崭新而光亮的一页，我们与这个时代一 同，站在了又一个"渡口"。 回望2 0 2 5，有无数个瞬间会从记忆的长河中浮现。四月的EGF风波乍起，五月的重组胶原蛋 白争议绵延，再到十月的苏丹红事件骤响，直至年末舆情居然如轮回般再度指向EGF。 从表面上看，2 0 2 5年的化妆品行业可谓是在舆情的此起彼伏中经历了近十年来最为云波诡谲 伏的一段航程。 然而在这些喧嚣背后，一些更为微小而具体的瞬间，却展露出行业最真实的脉搏。 这意味着，2 0 2 5年市面上接近4 0%的品牌经历了生死迭代。市场正通过这种最直接、最粗暴 的方式，筛选真正的长期主义者。 与此同时，市场的分化也在数据中展现得淋漓尽致。TOP5 0品牌中，8 0%保持了正增长，成为 驱 动 市 场 的 绝 对 引 擎 ；5 1 名 至 1 0 0 名 之 间 的 品 牌 ， 6 2% 保 持 增 长 ；1 0 1 名 至 5 0 0 名 之 间 的 品 牌 6 4%保持增长；而在5 0 0名之外的广阔长尾里，仅有2 6 . 5%的品牌能够维持增长。强者恒强的 马太效应，在这个行业从未如此清晰。 当丝芙兰的消费者 ...

Core Viewpoint - The article highlights the evolution of L'Oréal's research and innovation in China, emphasizing the country's transformation into a global innovation hub for the beauty industry, driven by local consumer demands and scientific advancements [4][18][41]. Group 1: Market Evolution and Innovation - The Chinese beauty market has grown to exceed 1 trillion yuan, becoming a strategic stronghold for international beauty giants and a source of global technological innovation [4][18]. - L'Oréal's China Research and Innovation Center, established in 2005, has been pivotal in driving local innovation, collaborating with top Chinese academic institutions to study health and beauty needs specific to Chinese consumers [9][10]. - The center has conducted approximately 35 large-scale foundational research projects focused on skin and hair health, developing over 300 new formulas annually tailored to Chinese consumers [15][18]. Group 2: Consumer Insights and Product Development - The demand for "science-driven efficacy" among Chinese consumers has surged, providing L'Oréal with a fertile ground for innovation [7][18]. - L'Oréal has developed unique products like Aminexil, the first imported anti-hair loss ingredient approved by China's National Medical Products Administration, showcasing the company's commitment to localized product development [17][18]. - The latest "2025 China Scalp and Hair Health White Paper" addresses key issues such as hair loss and scalp health, offering scientific solutions based on extensive consumer research [12][13]. Group 3: Collaborative Innovation Ecosystem - L'Oréal's "BIG BANG Beauty Tech Co-Creation Program" aims to integrate global startup innovations into its ecosystem, enhancing collaborative efforts across various markets [25][28]. - The company has established a collaborative innovation system across the "Beauty Golden Triangle" of China, Japan, and South Korea, leveraging each country's strengths to create a comprehensive beauty ecosystem [20][29]. - The integration of AI and biotechnology in product development is a key focus, with L'Oréal aiming to enhance its offerings through advanced scientific research [39][41]. Group 4: Future Directions and Consumer-Centric Approach - L'Oréal is shifting towards emotional experience-driven innovation, focusing on sensory science to enhance consumer engagement and satisfaction [34][41]. - The company is also exploring longevity science, aiming to provide comprehensive skin health management solutions that address aging through advanced research [36][41]. - L'Oréal emphasizes that true innovation lies in understanding and meeting consumer needs, positioning itself not just as a market leader but as a brand that prioritizes human values [41].

Core Insights - The article discusses the transformative impact of longevity science and AI on the beauty industry, emphasizing the shift in research and product development towards enhancing the quality of life rather than merely extending lifespan [5][6][10]. Group 1: Longevity Science in Beauty - Longevity science is redefining the foundational logic of beauty research, focusing on long-term skin health and preventive solutions rather than just immediate cosmetic needs [5][6]. - L'Oréal's integration of longevity science aims to transition from symptom treatment to root cause intervention, creating a comprehensive research framework that connects various aging markers to skin health [6][7]. - Companies are encouraged to develop their own longevity science theories based on their brand positioning, focusing on specific research areas like mitochondrial energy and chronic inflammation [8]. Group 2: AI's Role in Beauty Research - AI is significantly accelerating research processes in the beauty industry, with companies like L'Oréal and Unilever reporting dramatic increases in the number of molecules evaluated within shorter timeframes [11][14]. - The efficiency of AI in research is contingent upon the availability of high-quality data, necessitating the digitalization of research outcomes and the development of proprietary AI models [14]. - AI's application in ingredient discovery and development is becoming a competitive edge, with companies leveraging AI to enhance research accuracy and speed [11][14]. Group 3: PDRN and New Ingredient Trends - PDRN has emerged as a highly sought-after ingredient, with major brands like L'Oréal and Lancôme entering the market, indicating a potential surge in new product launches by 2026 [21][22]. - The development of PDRN is diversifying, with companies exploring various sources, including plant and microbial origins, to enhance efficacy and differentiate their products [22][23]. - Despite its popularity, PDRN's application in beauty products is still in its early stages, with concerns regarding its performance and safety yet to be fully validated [24]. Group 4: Advances in Peptide Technology - The beauty industry is witnessing a "technological iteration period" for recombinant collagen and functional proteins, focusing on precise structural design to address specific skin issues [25][26]. - Innovations in peptide technology include the development of multi-peptide matrices and targeted delivery systems, enhancing the effectiveness of these ingredients [26][35]. - The trend towards functionalized proteins reflects a broader industry consensus on the importance of efficacy-driven ingredient development [25][26]. Group 5: Integration of Aesthetic and Medical Approaches - The convergence of aesthetic and medical beauty is becoming a prominent trend, with brands increasingly seeking to provide scientifically validated, high-efficacy skincare solutions [30][32]. - This integration is reflected in the migration of medical-grade ingredients into consumer products, enhancing their appeal to consumers seeking immediate results [32][33]. - Brands are exploring new applications for established medical ingredients, such as PDRN and hyaluronic acid, in their product lines [32][33]. Group 6: Sensory Science and Consumer Experience - Sensory science is gaining traction in beauty research, focusing on the emotional and experiential aspects of product use, which are critical for consumer satisfaction [44][48]. - Companies are investing in technologies to quantify sensory experiences and their impact on consumer emotions, aiming to create products that resonate on a deeper level [47][48]. - The emphasis on sensory value in product development reflects a shift towards a more holistic understanding of consumer needs and preferences [44][48]. Group 7: Future Directions in Beauty Research - The article concludes that the beauty industry is entering a phase of unprecedented innovation driven by scientific advancements and consumer demand for effective, emotionally resonant products [56]. - Companies that successfully integrate rigorous scientific research with emotional engagement are likely to lead the market in the coming years [56].

Core Viewpoint - The article discusses Unilever's strategic shift towards growth through organizational changes, particularly the promotion of Leandro Barreto to Chief Marketing Officer (CMO), which reflects the company's focus on a consumer-centric growth model and enhanced marketing strategies [5][14][25]. Group 1: Leadership Changes - Unilever announced the promotion of Leandro Barreto to CMO, effective January 1, 2026, expanding his responsibilities to oversee the entire marketing function of the company [3][5]. - This leadership change is part of a broader organizational restructuring involving adjustments to 200 senior management positions as part of an operational and organizational transformation plan [5][17]. Group 2: Marketing Strategy - Unilever is shifting its marketing strategy to prioritize social media, increasing its advertising budget on these platforms from 30% to 50% of total ad spending [13][25]. - The company aims to enhance its engagement with consumers through localized and refined marketing efforts, including a significant increase in collaborations with Key Opinion Leaders (KOLs) [13][14]. Group 3: Financial Performance - In the first three quarters of the year, Unilever's beauty and wellness segment saw a 5.1% increase in underlying sales, driven by both volume and price contributions [11]. - The personal care segment also performed well, with a 4.1% increase in underlying sales, largely attributed to successful innovations in brands like Dove [11][12]. Group 4: Brand and Portfolio Strategy - Unilever is undergoing a significant brand and category restructuring, with plans to streamline its brand portfolio to focus on high-growth and core brands, aiming to reduce the total number of brands to under 200 [19][20]. - The company has already divested over 20 beauty or personal care brands since 2023, including the sale of non-core assets like Suave and the Eli d a Beauty unit [20][21]. Group 5: Market Focus - China has emerged as a key market for Unilever, showing low single-digit sales growth amidst overall company challenges, and is identified as a critical target for high-end beauty and health business expansion [28][29]. - The company is adapting its research and marketing strategies in China to align with local consumer demands, emphasizing high-value skincare and beauty products [28][39].

Core Viewpoint - The beauty industry is currently facing scrutiny due to the detection of the banned substance EGF (Epidermal Growth Factor) in products from various brands, including KANS, which has sparked significant media attention and consumer concern [3][9]. Summary by Sections Detection of EGF - A report from CCTV's "Economic Half Hour" highlighted the presence of EGF in KANS products, specifically the "KANS Firming Essence Mask" and "KANS Brightening Mask," with detected levels of 0.07 pg/g and 3.21 pg/g respectively [3][4]. KANS Response - KANS responded by asserting that none of their products contain EGF and provided third-party testing results from SGS, confirming the absence of EGF in the mentioned products. They emphasized compliance with national regulations [5][8]. Understanding EGF - EGF is a naturally occurring substance in human tissues, known for promoting cell growth. However, its use in cosmetics is restricted in many countries due to potential risks associated with excessive use [8][9]. Previous Incidents - The EGF controversy is not isolated; earlier in 2025, a similar incident involved multiple brands being accused of EGF contamination, which was later disproven by regulatory testing [9][10]. Microbial Presence of EGF - The detected levels of EGF in KANS products are extremely low, raising questions about the likelihood of intentional addition. Experts argue that such minuscule amounts would not provide any therapeutic benefits and suggest that the presence of EGF is unlikely to be a deliberate act by KANS [10][12]. Testing Methodology Concerns - Experts suggest that the detection of EGF may stem from issues with the testing methods used, particularly the ELISA method, which lacks standardized protocols for cosmetic products. This could lead to inaccurate results [16][18]. Industry Implications - The beauty industry faces ongoing challenges related to detection standards and the impact of media-driven narratives on brand reputation. The lack of clear regulations and testing standards contributes to the potential for misinformation and public backlash [19][20].

Core Insights - The beauty retail landscape in 2025 has undergone a strategic transformation, with traditional department stores closing approximately 20 beauty counters daily, resulting in a net reduction of over 5,000 points throughout the year. In contrast, more than 80 new stores have opened across various formats, indicating a shift in the essence of store openings from mere locations to interactive "experience generators" [1][4][20]. Group 1: Changes in Retail Strategy - The focus of foreign brands has shifted from establishing static brand landmarks to creating dynamic operational "experience laboratories" that engage consumers [5][8]. - The concept of "first stores" has evolved, with brands now competing not just for geographical presence but for the best resources to launch globally, making China a key market for premier brand assets and innovative products [8][10]. - The traditional department store channel has seen a significant efficiency optimization, with a beauty brand counter opening and closing ratio of only 0.6, reflecting a strategic shift towards deeper experiential value creation [20][43]. Group 2: Local Brand Strategies - Local brands have completed a strategic evolution, moving beyond imitation to establish distinct paths in fragrance, color cosmetics, and skincare, focusing on systematic brand space construction rather than scattered store openings [22][38]. - Three distinct paths for local fragrance brands have emerged: cultural deepening, matrix penetration, and business model integration, each targeting unique market segments and consumer experiences [24][31]. - Local brands are also exploring international markets, with brands like JUDUO and JOOCYEE opening their first overseas stores, indicating a systematic exploration of international growth [32][33]. Group 3: Innovative Retail Formats - Pop-up stores have evolved from marketing events to "high-end experience laboratories," offering flexible themes and deep technological integration, exemplified by Lancôme and SkinCeuticals [11][13]. - Some foreign brands are merging retail with lifestyle solutions, as seen with HARNN's "SPA + retail" concept, allowing customers to experience the brand's culture and services in a holistic manner [15][16]. - The integration of various business models is becoming standard, with brands like MARCH creating multi-functional spaces that combine fragrance with cultural and lifestyle elements [29][41]. Group 4: Market Dynamics and Future Trends - The role of cities in brand strategy has been redefined, with high-tier cities serving as core battlegrounds for brand recognition and narrative development, while lower-tier cities are seen as growth areas for brand expansion [40][41]. - The future of beauty retail is shifting from geographical competition to the creation of mental and experiential spaces, emphasizing the importance of opening the "right" store in strategically chosen locations [43][44].

Core Insights - The article discusses the rising trend of cultural creative hand creams in tourist areas, highlighting their appeal as both practical gifts and social media props for young consumers [4][5]. Group 1: Market Dynamics - Cultural creative hand creams have become popular as souvenirs in tourist spots, with various themed packaging catering to different consumer preferences [5]. - The success of these products is attributed to their ability to meet emotional and practical needs, creating a closed loop of "scene adaptation + experience empowerment + value resonance" [5]. Group 2: Consumer Insights - The demand for hand creams has evolved from basic moisturizing to a multi-scenario product that carries emotional value, with key dimensions being "effectiveness anchor + scene adaptation + demographic segmentation" [10]. - Scent is the primary factor influencing purchase decisions, with 60% of consumer reviews mentioning it, compared to only 17% for moisturizing properties [12]. Group 3: Target Demographics - The primary consumer demographic is women aged 21-35, who exhibit distinct preferences that influence product positioning [13]. - Younger consumers (21-25 years) prefer affordable, well-packaged products, while working professionals (26-35 years) prioritize non-greasy textures and subtle fragrances [14]. Group 4: Brand Strategies - Brands like Qingzhi and Huke have successfully navigated the market by addressing core consumer needs: Qingzhi focuses on the tourism gift market, while Huke emphasizes effective ingredients and user experience [17][19]. - Qingzhi's sales reached 2.27 million yuan with a volume of 32,900 units in October 2025, achieving significant growth through a "offline experience + online repurchase" model [6][18]. - Huke's online sales reached 5.49 million yuan with 72,000 units sold in the same period, driven by targeted ingredient benefits and enhanced user experience [19]. Group 5: Market Evolution - The hand cream market is transitioning from a focus on basic moisturizing to a more nuanced approach that combines effectiveness with emotional resonance, creating new opportunities for brands [21].

Core Viewpoint - The breakthrough of "transdermal collagen" technology by Furuida Biological Co., under the brand Kemi, marks a significant advancement in the global cosmetics science arena, showcasing China's transition from application follower to principle definer in beauty technology [3][4][10]. Group 1: Event Overview - The 79th Annual Scientific Meeting of the Society of Cosmetic Chemists (SCC) was held in New York on December 16, 2025, celebrating the 80th anniversary of the SCC, which is a historic and influential academic platform in the cosmetics science field [5]. - The conference theme "Science Reimagined" indicates the ongoing transformation within the industry, with a focus on innovative technologies from Chinese enterprises [5][9]. Group 2: Technology Breakthrough - Kemi's report highlighted a 27.5 times increase in the permeability of large molecular collagen, addressing the long-standing challenge of low absorption rates in skincare applications [3][14]. - The technology utilizes a "transdermal engine" that integrates a short peptide sequence capable of penetrating cell membranes into the collagen gene, allowing the collagen to actively enter skin cells [12]. Group 3: Scientific Validation - The efficacy of the transdermal collagen was validated through rigorous scientific methods, including Raman spectroscopy, ensuring that the technology is grounded in real physiological conditions and consumer experiences [4][20]. - Clinical trials demonstrated that after 28 days of using the Kemi Recombined Collagen Anti-Wrinkle Essence, participants experienced a 17.16% reduction in crow's feet and a 23.24% reduction in frown lines, confirming the product's effectiveness [16]. Group 4: Market Impact - Kemi's products have achieved significant market success, with the "transdermal collagen essence" becoming a top-selling item shortly after launch, reflecting consumer demand for scientifically validated anti-aging products [21][23]. - The brand's positioning as a high-end product with a clear technological narrative has resulted in a customer price point significantly above the industry average, breaking the traditional price barriers for domestic brands [21][23]. Group 5: Future Implications - The success of Kemi at the SCC signifies a new phase for Chinese beauty technology, transitioning from product and ingredient output to technology solution output, showcasing the competitive edge of Chinese enterprises in global innovation [23][24]. - The global collagen market is expected to grow at a compound annual growth rate of over 40%, indicating a shift in competition towards a focus on bioactive design, intelligent delivery technology, and scientific efficacy validation [24].

Core Viewpoint - The globalization of Chinese beauty brands has reached a new turning point, shifting from a focus on single products or channels to a brand system-centric approach, emphasizing long-term brand recognition and memory retention [3][4][6]. Group 1: INTO YOU's Globalization Strategy - INTO YOU's recent launch of the "M.LanPanda" collaboration marks a significant step in its global strategy, indicating a transition towards brand identity and long-term recognition [3][4][11]. - The brand's strategy highlights a departure from traditional paths, focusing on product strength as an entry point and brand power for differentiation [8][10]. - The collaboration with the globally recognized Chinese IP "Panda" serves as a universal interface for brand globalization, maintaining consistency across different cultural contexts [10][11]. Group 2: Product Development and Market Adaptation - INTO YOU has established a robust product innovation framework, addressing consumer pain points in the Chinese lip makeup market and creating a new category with its "Lip Mud" series [13][16]. - The brand's product line has expanded to include over 200 SKUs, covering various makeup needs and adapting to local markets, such as introducing bagged lip mud for Southeast Asia's humid climate [16][18]. - This systematic approach to product development has allowed INTO YOU to maintain brand recognition and adaptability in diverse cultural markets [18][29]. Group 3: Brand Identity and Marketing Strategy - INTO YOU's brand identity is characterized by a consistent aesthetic and visual system, which has enabled it to integrate into local beauty retail environments effectively [18][19]. - The brand's collaboration strategy focuses on enhancing brand recognition rather than merely adding cultural attributes, using IP as a tool to reinforce its identity as a "color expert" [22][29]. - The structured approach to ambassador partnerships has aligned with product launches, creating a cohesive narrative that connects personalities, emotions, and colors [25][27]. Group 4: Market Expansion and Performance - Since its initial overseas expansion in 2021, INTO YOU has successfully penetrated 49 countries, with nearly 1,500 offline stores and overseas sales exceeding 150 million yuan [30][31]. - The brand's growth in emerging markets, such as Vietnam, has been driven by localized product adaptation and effective channel collaboration, achieving top rankings in online sales [32][34]. - In mature markets like Japan, INTO YOU has entered mainstream retail systems, validating its brand capabilities and providing a foundation for future regional expansion [33][34]. Group 5: Recognition and Cultural Integration - INTO YOU has received multiple awards in overseas markets, validating its product quality and enhancing its credibility in high-barrier retail channels [34][36]. - The brand's participation in international cultural events, such as MAMA and New York Fashion Week, has increased its visibility and established connections with global youth culture [37][39]. - The brand's recognition as an outstanding cross-border brand at the Shanghai Import Expo signifies its successful integration into the global market [40]. Group 6: Conclusion on Brand Evolution - INTO YOU's journey from "product export" to "brand export" reflects a new phase in the globalization of Chinese beauty brands, emphasizing systematic brand building as a core strategy for long-term success [42].

Core Viewpoint - Coty Group is undergoing a significant leadership change with Markus Strobel appointed as Executive Chairman and Interim CEO, marking a strategic shift aimed at restructuring and enhancing the company's market position in high-end fragrances and mass beauty sectors [1][2][3]. Leadership Transition - Markus Strobel, a veteran from Procter & Gamble with over 30 years of experience, will lead Coty during a critical phase of strategic review and business transformation [1][2]. - Strobel's dual role as Executive Chairman and Interim CEO indicates he will have substantial authority to drive change during the transition period, despite the CEO title being temporary [3][4]. Background of New Leadership - Strobel's career at Procter & Gamble includes various roles across multiple sectors, with notable success in revitalizing the SK-II brand, particularly in the Chinese market [4][5]. - His leadership at SK-II resulted in 18 consecutive quarters of growth, with a 30% sales increase in 2018, showcasing his capability in brand rejuvenation and digital transformation [4][5]. Strategic Context - The leadership change reflects Coty's transition from a phase of "repair and stabilization" to one of "strategic restructuring and accelerated growth," indicating a potential overhaul in strategic focus, operational models, and organizational culture [8][10]. - Coty faces structural challenges post-pandemic, with approximately 60% of its net revenue derived from high-end fragrance business, which is increasingly vulnerable due to reliance on a few key licensed brands [12][20]. Financial Performance and Challenges - Coty's financial performance has been under pressure, with a reported net revenue of $1.577 billion for the first quarter of fiscal 2026, down 8% year-over-year, and a market capitalization around $2.9 billion against a debt of $3.8 billion [20]. - The company is also experiencing a decline in its mass beauty segment, with a reported 11% drop in net revenue for the first quarter of fiscal 2026, continuing a trend from the previous fiscal year [20]. Strategic Initiatives - To mitigate risks from core license losses, Coty is expanding its brand portfolio by signing new beauty licensing agreements and launching its own fragrance brand, INFINIMENT COTY PARIS, which aims to innovate in the fragrance sector [16][18]. - The new leadership is expected to introduce a more targeted strategy, potentially focusing on high-end skincare and re-evaluating Coty's approach in the color cosmetics sector [23][25]. Future Outlook - The appointment of Strobel signifies a new strategic cycle for Coty, with expectations for a systematic approach to brand management and operational efficiency, leveraging his extensive experience from Procter & Gamble [21][27]. - The beauty industry will closely monitor how Coty adapts its market strategies, particularly in key markets like China, under Strobel's leadership [27].