Retail Express
Aesop opens first store in mainland China
2022-09-17
The first Aesop store in mainland China will be located on Shanghai’s Dongping Road. The street’s rich cultural history and integration of the city’s diverse styles make it a prime location. This marks the Brazilian cosmetic giant Natura&CO’s official entry into the Chinese market.
Established in 1987 in Australia, Aesop blends scientific research and herbal formulas to create a wide range of cosmetics. The company positions itself as firmly against animal experimentation which makes it popular amongst vegan and animal-welfare oriented consumers.
Based on Natura&Co’s financial report, the Group’s combined net income is 1.627 billion USD, down 12.7 percent from last year. Apart from Aesop’s 9.6 percent increase, Natura, Avon, and The Body Shop all reported negative growth, down 8.4 percent, 22.1 percent, and 22.9 percent, respectively.
Under Natura&CO, Aesop has doubled its sales over the last three years. Sales grew by 23 percent, 50 percent, and 33.4 percent respectively in 2019, 2020, and 2021. The company’s revenue over those three years reached 503 million USD.
Currently, Aesop has 269 physical stores worldwide, up 22 from 2021. The stores account for 76.5 percent of total sales, which indicates the sustained importance of offline retail channels.
The company entered Tmall Global in 2018 and opened its overseas flagship store in March. Its Tmall Global flagship store has nearly 700 thousand followers as of July. With the brand’s Parsley Seed Antioxidant Serum, Aesop has already been popular in the Chinese buying agents market.
