Foreign consumer brands are flocking to China’s tropical island of Hainan, riding on hopes for a post-pandemic economic recovery to drive a revival in tourism and local demand, reports the South China Morning Post.
American-French beauty company Coty, which holds licensing rights in cosmetics and fragrances to brands such as Burberry and Gucci, plans to add nine new sales points—including seven stand-alone shops—to its 29 existing sales points in Hainan in the next financial year, which begins in July, said Guilhem Souche, senior vice-president of global travel retail, in a recent interview with the South China Morning Post.
New York-listed Estée Lauder, meanwhile, established in late March its first office in Hainan, dubbed China’s Hawaii, late last month, citing the region’s “strategic importance” for the group’s travel retail business. It came after the beauty giant last October started selling in 13 shops in Haikou, the provincial capital, in collaboration with China Duty Free.
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