and Etude House, beauty players equipped with market know-how and fast-paced product releases were able to survive the pandemic intact.
For Bray, despite a “very strange 2021 and 2022, where e-commerce grew like wildfire and created almost a vicious cycle,” the“Local C-beauty brands have already occupied a certain market share in the mass market. The growth space is already limited due to market saturation, so brands have started to focus on the premium market to find new growth drivers,” Hu said.
Bray was referring to emerging high-end brands that have blown up in size and scope in the last few years, including
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