Tmall to Open 1000 New Beauty Stores in 2019
Tmall, an online retail website owned by Alibaba, announced today that it expects 1000 new international and domestic cosmetics brands to join the Tmall platform this year in order to meet the demands of Chinese consumers.
“We are honored to be trusted by 180,000 brands on our platform, empowering them to accelerate their digital transformation and grow their businesses in China,” said Jet Jing, President of Tmall. “As China continues its consumption upgrade, more and more people from different age groups and geographic locations are willing to spend more on high-quality beauty products. We are looking forward to working with more brands to address the opportunity.”
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At its annual beauty summit, Tmall announced that seven international cosmetics companies like Tom Ford, Primera and Barnängen signed agreements to open flagship stores on Tmall this year. Another five beauty companies, including Maybelline, Kiehl’s and Innisfree signed New Retail partnerships with Tmall during the summit.
Tmall’s target to open 1,000 new cosmetics stores with brands is part of the company’s drive to establish itself as the platform of choice for beauty brands to connect with Chinese shoppers. With Alibaba’s giant customer base in China, Tmall serves as a useful platform for brands to manage the entire customer journey from product discovery, awareness building and engagement, to transaction, delivery, and after-sales services.
Tmall’s sales of beauty products jumped over 60 percent last year, surpassing the industry’s average growth rate. Online sales of cosmetics, skincare and personal care products grew 46 percent, 40 percent, and 37 percent respectively in China last year, according to a report jointly released by Tmall and retail market research firm Kantar during the summit.
As of February 2018, Tmall has over 500 million monthly active users, making it the world’s seventh most visited website according to Alexa.
Featured photo credit to Alibaba