YSL Beauté Hits Record Sales on TMall
YSL Beauté made more than ¥30m ($4.7m) in just 14 hours after launching on Alibaba’s TMall platform in China this month. Within 24 hours, the L’Oréal-owned beauty brand had attracted 1.2 million followers on the online store, and this figure had risen to ¥38m ($6m) – setting a new record for the most sales generated by a new beauty brand.
TMall, Alibaba’s direct-to-consumer e-commerce site, has attracted a growing number of luxury brands in recent years. YSL Beauté joined TMall’s Luxury Pavilion in April 2018, which also hosts Estée Lauder, Giorgio Armani and Givenchy.
High-end brands have traditionally avoided TMall due to long-term counterfeiting concerns surrounding Alibaba. However, in recent years, China has become one of the largest and fastest-growing beauty markets in the world. Chinese consumers spend more on luxury than any other nation, accounting for 32% of luxury sales worldwide (Bain & Company, 2018).
Lipstick is currently the fastest-growing beauty category in China, used by 95% of urban Chinese females (L2, 2018). YSL Beauté focused on these products to advertise its launch on TMall to great success.
The launch has also helped YSL Beauté tap into a new demographic in China. Alibaba said that more than half of the brand’s customers on the platform are aged 18-25, and almost a quarter are aged 25-30. This is a much younger demographic than YSL Beauté’s in-store consumers, who have an average age of 27.
The brand now plans to cater to this young market with interactive features and opportunities for customisation. "Our product pages should be the coolest on TMall," said brand director Sebastian Xing.