German skincare company Beiersdorf faces challenges in the Chinese luxury skincare market. Despite the difficult environment, the company is striving to consolidate its position through innovative and ambitious strategies. Its “Win with Care” strategy aims to overcome these obstacles and explore new growth prospects.
German skincare company Beiersdorf, known for its iconic brands such as Nivea and La Prairie, is experiencing turbulent times in the Chinese luxury skincare market. Despite the difficult environment, the company continues to strengthen its position through innovative and ambitious strategies.
In general, the Chinese luxury skincare market declined sharply in the first half of 2024, particularly in the second quarter.
A challenge highlighted by Beiersdorf CEO Vincent Warnery: “Today, we are not in a position to grow, we are gaining market share, but in a very sharply declining market. The first quarter was difficult. The second quarter will also be difficult.”
“We are seeing market share gains, but clearly we are not yet at the end of the tunnel for La Prairie,” he added.
“Win with Care” strategy
To continue reading this article, subscribe or log in to your account
Discover our plans
- Every day, keep up to date with the latest business news from the world of luxury.
- Receive the essential luxury business news by email every week
- Access all our events
- The Luxury Journals and Luxus Magazine in print and digital versions
Subscribe for 1€
Become an active member of the community of luxury leaders.
Read also>[LUXUS MAGAZINE] THE REJUVENATION TAKES PLACE OVERNIGHT WITH LA PRAIRIE
Featured photo : © La Prairie
