AP嫒彬内地全线闭店 爱茉莉又要另起“新炉灶”？丨美妆变局

Core Insights - Amorepacific's high-end skincare brand AP has closed all its online and offline stores in China, indicating a strategic shift in its operations within the market [1][2] - The brand's performance in China has been disappointing, with low engagement and sales figures, prompting the company to reassess its market strategy [1][2] Company Strategy - Amorepacific aims to optimize resource allocation and enhance service efficiency for Chinese consumers through the adjustment of the AP brand [1] - The company has introduced another skincare brand, Aestura, which offers products at a more competitive price point of 100 to 200 yuan, targeting a different segment of the market [2][3] Market Dynamics - A significant shift in consumer preferences has been observed, with a growing inclination towards domestic brands over international ones, as evidenced by a survey indicating that by 2025, domestic brand preference will surpass that of international brands in the beauty and skincare sector [2] - The Chinese skincare market is projected to exceed 400 billion yuan by 2025, with the color cosmetics market reaching 120 billion yuan, highlighting the potential for growth in the sector [2] Performance Metrics - Amorepacific's revenue in the Greater China region grew by 8.5% in Q3 2025, reaching 1,060 billion won (approximately 5.2 million yuan), marking a significant recovery from previous years [4] - The company is focusing on digital transformation and AI-driven strategies to better meet the evolving demands of Chinese consumers [4]