CPB has been in China since 2001. It has been “lukewarm” in China for more than ten years and now it has “known by all people”. CPB’s marketing and layout in the Chinese market has changed step by step making the Chinese market the main new engine of performance growth.
Estee Lauder Group President and CEO Fabrizio Freda revealed at the earnings conference that net sales in mainland China surpassed $1 billion in fiscal 2018 with growth driven by “Generation Z (those born between 1995-2009) who favor premium cosmetics “. More than 40% of new users of ultra-premium brand like La Mer are in their 20s.
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