The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Chinese authorities are soliciting opinions regarding a prohibition on cannabis-related ingredients for use in beauty products, according to a notice published on the National Institute for Food and Drug Control (NIFDC) website.
Cannabis sativa kernel fruit, cannabis sativa seed oil, cannabis sativa leaf and cannabidiol (CBD) are all listed as components that would be banned under a proposed new legislation, the notice said, with the deadline for feedback on the proposal set for April 9. The new legislation would overturn a previous 2015 ordinance that allowed the use of these ingredients in beauty products in the China market.
CBD beauty is in its nascent stages in the China market, though local C-Beauty players such as Simpcare and One Leaf have been leveraging the clean and natural message of CBD beauty to raise money and build hype on local social media platforms, including Xiaohongshu and Bilibili.
With consumers tightening their belts in China, the battle between global fast fashion brands and local high street giants has intensified.
Investors are bracing for a steep slowdown in luxury sales when luxury companies report their first quarter results, reflecting lacklustre Chinese demand.
The French beauty giant’s two latest deals are part of a wider M&A push by global players to capture a larger slice of the China market, targeting buzzy high-end brands that offer products with distinctive Chinese elements.
Post-Covid spend by US tourists in Europe has surged past 2019 levels. Chinese travellers, by contrast, have largely favoured domestic and regional destinations like Hong Kong, Singapore and Japan.