美容护理行业周报：双十一大促收官，美妆表现良好

Investment Rating - The industry investment rating is "Overweight (Maintain)" indicating a positive outlook for the industry relative to the benchmark index [3][15]. Core Insights - The beauty care industry has shown strong growth during the recent Double Eleven shopping festival, with total sales across e-commerce platforms reaching 1,441.8 billion yuan, a year-on-year increase of 26.6%. The personal care and beauty segment alone accounted for 96.3 billion yuan, growing by 22.5% year-on-year [3][4]. - Major domestic brands and international players performed well, with Tmall reporting 79 brands exceeding 100 million yuan in sales during the Double Eleven period. Notably, domestic brands like Proya and international brands like L'Oréal and Lancôme dominated the sales rankings [4][5]. - The report highlights the increasing penetration of medical beauty products, with companies like Cofoe and Aesthetic Fill gaining traction in the market. The overall trend indicates a shift towards higher demand for medical beauty solutions [9]. Summary by Sections E-commerce Performance - Comprehensive e-commerce platforms and live-streaming e-commerce platforms saw significant sales growth, with Tmall leading the sales chart. Tmall's sales reached 1,109.3 billion yuan, up 20.1% year-on-year, while live-streaming e-commerce sales hit 332.5 billion yuan, growing by 54.6% [3][4]. Brand Performance - Proya's sales on Tmall increased by over 10%, while Douyin's sales surged by over 60%. Other brands like Colorful and Off & Relax also reported substantial growth across various platforms [5][6]. - Cofoe's online sales grew by over 80%, with significant contributions from Tmall and Douyin. The brand's expansion into physical retail locations in Hong Kong and other cities is also noted [6][8]. Investment Recommendations - The report suggests focusing on leading domestic brands such as Proya and Han Shu, as well as companies in the medical beauty sector like Cofoe and Aesthetic Fill, which are expected to continue their growth trajectory [9].