Face of city’s booming cosmetics industry
Print Edition
The world’s leading cosmetics firms and industry parks are eager to work with Shanghai’s Oriental Beauty Valley.
The second Oriental Beauty Valley International Cosmetics Conference, with the theme of “Beauty, Everywhere,” runs through today in southern Fengxian District.
Company representatives from 20 countries and regions, as well as government officials, shared knowledge on the latest policies, technologies and industry trends at the conference yesterday.
Gyeongsan, a city in South Korea focused on the electronics and cosmetics industries, signed an agreement with the Fengxian District government.
Gyeongsan has over 3,000 cosmetics companies and research institutes that want to explore cooperation with Fengxian, Mayor Choi Yong-jo told the opening ceremony attended by about 1,000 people.
Marc-Antoine Jamet, chairman of France‘s Cosmetic Valley and secretary general with the LVMH Group, said: “There is a lot to do between the Oriental Beauty Valley and France’s Cosmetic Valley.”
Both sides can work on common research projects and cooperate in the raw materials of traditional Chinese “beauty secrets,” he said.
Masahiko Uotani, president and group CEO of Shiseido in Japan, said China is the source of innovation for the brand’s global strategy.
“We see the future of China as the future of our business,” he said.
About 300 new enterprises register in the valley each day, accounting for a fifth of Shanghai’s total number of new companies, said district Party secretary Zhuang Mudi.
The district includes a 20-square-kilometer industrial park which will serve as the headquarters of domestic and international companies.
Leading Chinese cosmetics brands such as Jala, Pechoin and Chicmax have manufacturing centers or marketing headquarters in the park, which aims to be on par with France’s Cosmetic Valley and Japan’s Saito Life Science Park in Osaka.
The valley accounts for more than 40 percent of the total value of the city’s cosmetics industry.
“The valley will enhance cooperation with the French Cosmetics Valley and the biopharmaceutical center in Zhangjiang in the Pudong New Area as well as industries in Europe, the United States, Japan, South Korea and Southeast Asia,” Zhuang told the conference.
The district government expects the value of cosmetics and health products manufactured in the valley to reach 100 billion yuan (US$14 billion) by 2025.
Since the opening of the first cosmetics conference in 2018, the valley has attracted a total investment of over 20 billion yuan, Zhuang said.
During the conference, forums and panel discussions are being held on the strategies of global cosmetics brands and the lessons for domestic brands.
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