Core Viewpoint - The OTC channel presents significant opportunities for beauty brands, offering professional endorsements, precise targeting of skincare needs, and immediate product experiences, but it also poses challenges due to strict professional requirements and a talent shortage in the industry [1][2][3]. Group 1: Market Entry and Growth - By 2025, over six domestic cosmetic companies are expected to enter the OTC channel, marking it as the "Year of Domestic Beauty OTC Layout" [2]. - Leading domestic beauty brand Proya (603605.SH) announced its entry into the OTC channel in January 2026, joining a growing list of companies [2]. - Brands like Winona and Kefu Beauty have been early entrants into the OTC channel, with Winona's sales nearing 1 billion yuan in 2023, capturing over 60% of the market share in this channel [5]. Group 2: Strategic Developments - In April 2025, Furuida Bio announced plans to accelerate its OTC channel development, aiming to cover 10,000 drugstore chains and launch 100 "cosmetic and medicinal" SKUs [5]. - Companies are increasingly focusing on integrating with the professional environment of pharmacies rather than merely distributing products [5]. - Proya is preparing multiple products for the OTC channel, emphasizing the importance of medical device products as a foundation for entry [6]. Group 3: Market Potential and Challenges - The OTC channel has approximately double the growth potential, with Winona targeting to cover 250,000 pharmacies [8]. - As of December 2024, there are about 705,000 licensed drug retail enterprises in China, with Winona covering over 110,000, representing about one-seventh of the total retail pharmacy stores [9]. - The demand for beauty products in pharmacies is rising due to pressures on traditional pharmacy profits and the need for transformation [9]. Group 4: Profitability and Talent Shortage - Medical device products have a significantly higher gross margin, averaging 77%-83%, compared to regular cosmetic products [9]. - The beauty industry faces a talent shortage in the pharmacy channel, as many brands rely on pharmacists who must understand both pharmaceuticals and cosmetics [10]. - Companies like Betaini are addressing this by training pharmacy staff to enhance customer trust and provide professional consultations [10][11].

或许你已经发现，走进家里小区楼下的药店，第一眼看到的可能不是药品，而是薇诺娜、可复 美、绽妍等品牌的护肤产品，这一幕正悄然成为中国药店的"新常态"。 近日，福瑞达生物公布了年内覆盖1 0个千万级OTC连锁的大计划。无独有偶，百雀羚也于年 初宣布正式入驻北京同仁堂渠道。随着线上红利逐渐见顶，不少品牌开始瞄准线下OTC专业渠 道掘金。 《FBe a u t y未来迹》经过调研发现，美妆在OTC渠道的生意，比起未开发的蓝海，更像是一支 蓄势待发的弓箭。在已经跑出薇诺娜这个十亿级销售规模美妆品牌的情况下，依旧还有巨大的 想象空间。 OTC渠道可以说是目前在线下分布最广的一类渠道，正如居民楼附近不一定会有化妆品店，但 一定会有药店，而这不是错觉。 根据薇诺娜母公司贝泰妮集团发布的2 0 2 4年上半年财报，OTC分销渠道销售模式实现营业收 入人民币3 5 , 4 7 0 . 1 4万元，约占主营业务收入1 2 . 7 1%，同比增长约2 0 . 0 1%。 按照这一增速， 薇诺娜在OTC的年销售规模大概率已经迈过1 0亿门槛。 据公开资料，薇诺娜从2 0 1 6年开始与连锁药房合作，彼时市场体量只有5 0万左右；8年后 ...