Is C-beauty bouncing back? Profit rises at Shanghai Jahwa, Yunnan Botanee and Proya

Is C-beauty bouncing back? Profit rises at Shanghai Jahwa, Yunnan Botanee and Proya

THE WHAT? A trio of C-beauty firms have all reported substantial rises in 1H 2023 profit, suggesting that the beauty market is bouncing back from its pandemic lows. Shanghai Jahwa, Botanee and Proya all saw profit climb in the high double digits in the six months to June 30, 2023.

THE DETAILS According to a report published by Yicai, Jahwa saw profit surge 90.9 percent yoy although revenue dipped 2.3 percent, while Botanee’s revenue jumped 15.5 percent and profit grew 12.9 percent. Proya’s profit increased 65 percent while sales were up 35 percent.

THE WHY? Chinese cosmetics sales rose 4.8 percent in June, Yicai reveals quoting data from the National Bureau of Statistics, and 9.8 percent yoy in the January to June period. However, the recovery is bumpy with Yatsen’s Q2 2023 revenue down 9.8 percent.

Japan’s controversial Fukishima release could well provide a further boost to recovering sales as Chinese consumers eschew imported brands.

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