E-commerce platform Tmall experienced a rapid expansion in its beauty business throughout 2020. At the 2021 Golden Makeup Awards which took place earlier today (April 15), Ji Yun, general manager of Tmall’s FMCG department, announced that Tmall Beauty had achieved its goal of doubling overall performance in two years.
In 2020, 3,000 beauty and makeup retailers opened stores on Tmall. Of the existing brands on the platform:
- 3 surpassed annual sales of 5 billion RMB ($767 million)
- 42 reached annual sales of 1 billion RMB ($153 million)
- 603 reached annual sales of over 100 million RMB ($15 million)
“The next ten years will be the golden period for new brands. We are the participants in this wave and the guides of these new brands.”Ji Yun, general manager of Tmall’s FMCG department