China Beauty: 618 Event Wrap-Up

Research evidence excerpt

China Beauty: 618 Event Wrap-Up

China (PRC) | Cosmetics, Household &

Personal Care EquityJuneResearch23, 2026

Chart 1 - Tmall still dominates the onlineChina Beauty: 618 Event Wrap-Up

market for beauty with ~45% share

China Beauty 618 event concluded recently. Following up on our first- 2026's 618 Event:5.3% EC Platform

take note, we are providing more updates in this note. Proya lost its 10.7%7.3%

absolute leading position on Tmall and dropped to No.3 this year, while 44.8%

31.9%

SkinCeuticals ascended to the top spot. On Douyin, premium international

beauty rebounded, and selected local brands broke out. Tmall Douyin JD Kuaishou PDD

.

Source: Analysys, Jefferies

Generally speaking, Tmall channel still dominates the China beauty online market with ~45% Note: Monitored from 13 May to 18 June;

market share, followed by Douyin with 32%, JD with 11%, Kuaishou with 7%, and PDD with 5% excludes flash sales, instant sales, and

this year (see Chart 1), per Analysys data. The source also indicated 11% growth YoY during delivery sales

this 618 event for the main online platforms (i.e. Alibaba, JD, PDD, Douyin, and Kuaishou) and

~10% growth for integrated online platforms (i.e. Alibaba, JD, PDD).

Compared to last year (see note here), Tmall's market share increased by ~4ppt, while

Douyin lost ~4ppt during this year's event. In our view, his indicates that beauty consumers

are focusing more on channel (platform) service and brand equity when making purchase

decisions, given Tmall's 88VIP system enjoys higher repurchase rate and customer loyalty.

Tmall: Proya lost the No.1 absolute position in the 618 event; tactical new launches across

the board

The biggest surprise is Proya lost the No.1 absolute leading position and dropped to•

No.3 this year, according to Tmall Beauty;