But will the French luxury house’s beauty line follow suit? UBS Evidence Lab discloses that Hermès remains the top brand for Chinese luxury consumers in their 2020 Outlook Report. Though China is currently the world’s largest beauty product market, the sustainability of Chinese consumers’ appetite for those products and Hermès’ ability to make an impression on savvy shoppers will determine if the group can win in this crowded market. Meanwhile, Chinese-born beauty brands like Perfect Diary are winning over more domestic beauty shoppers through competitive prices and a stronger knowledge of younger consumers. But is it the right time for Hermès to dive into the beauty pool? Luxury players are competing to adopt localized approaches for selling makeup and skincare products to Chinese consumers, from casting popular idols in campaigns to facilitating digital channels on Tmall. Starting a beauty line with lipstick smartly resonates with Chinese beauty consumers, as lipstick fever in the country has been brought to new heights due to the expanding livestreaming and influencer marketing industries. According to a recent report on Hermès 4Q19 by Morgan Stanley Research, the group is reducing its reliance on its leather goods category in general - and a few iconic bags in particular - and beauty is expected to cap the brand’s margin expansion this year. Although beauty products have already been a cash cow for luxury brands like Chanel and Dior, Hermès has yet to jump into this lucrative market until now. Last Friday, luxury fashion house Hermès disclosed its foray into the beauty world with its first makeup product - “Rough Hermès: a brand new lipstick line. The real Hermès Lipstick is on the way.” This was the launch announcement from Hermès Lipstick collection, which has become buzzy news on Weibo and Little Red Book where beauty shoppers seek the latest drops and products. Is Hermès’ message of sustainability coming through?.Netizens have varying opinions about the new lipstick line.Beauty is booming amidst an economic slowdown in China, so Hermès is right to join the fray.
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