THE WHAT? Some companies may be struggling to navigate the post-pandemic landscape in China but LVMH isn’t one of them. The luxury goods conglomerate has cut the ribbon on an R&D center in Shanghai, focused on luxury beauty, according to a report published by WWD.
THE DETAILS The 23,000 square-feet space is said to be the company’s largest in the region and boasts product testing rooms, development laboratories for make-up, skin care and color as well as workshop space and consumer hub.
THE WHY? The center is charged with taking ‘root in Asia and China’ and creating the ‘beauty of the world’, WWD reports. Its mission is to localize new concepts and gain insight into shopping behaviours on the ground. Said Andrew Wu, President of LVMH Greater China, at the opening ceremony, per WWD, “China’s market is becoming more and more important, and so is Asia’s. I believe that the world will be better with the development of China’s market, and China will become stronger and stronger in its interaction with the world.”