Still a Magnet
The COVID-19 pandemic still spreading globally has forced people to wear masks and reduce their outdoor activities, but women in pursuit of beauty have never really ceased to buy cosmetics. According to U.S.-based cosmetics giant Estée Lauder, its net sales for the first quarter (Q1) of the year reached $3.86 billion with a year-on-year increase of 16 percent, a number in which the Chinese market held some high stakes.
In Q1, its makeup sales rose slightly in the Asia-Pacific market, reflecting the region’s more advanced recovery, primarily in China where occasions to actually wear makeup are on the rise. The net sales in the Chinese mainland saw a double-digit growth, which can be largely attributed to the
