Group 1 - Amorepacific, a South Korean beauty giant, announced the closure of its Innisfree Tmall overseas flagship store while maintaining local channels, aiming to integrate resources and create more efficient sales channels for better consumer service [1] - Innisfree entered the Chinese market in 2012 and rapidly grew due to the "Korean Wave" effect and high cost-performance strategy, reaching over 800 stores at its peak in 2016. However, the brand's market share has been declining due to the rise of local beauty brands and changing consumer preferences, leading to the closure of all offline stores and a focus on online sales [1] - In 2024, Amorepacific's sales revenue in the Greater China region fell by 27%, making it the worst-performing area globally for the group [1] Group 2 - The structure of China's cosmetics consumption market has significantly changed, with domestic brands achieving a 55% market share in 2024, surpassing international brands for the first time. Several domestic beauty companies have also reported revenues exceeding 10 billion yuan [2] - Domestic beauty brands have gained popularity among young consumers through precise market positioning and innovative marketing strategies, achieving breakthroughs in functional skincare and leveraging social media and live-streaming for brand awareness [2] - Industry experts suggest that international beauty brands need to accelerate localization, increase R&D investment, and produce products that meet Chinese consumer demands. The current market trend favors personalized and customized products, with consumers willing to pay for quality and safety [2]