Launched in mainland China in 2020, then expanding to Japan and South Korea in 2023 and Taiwan and Hong Kong in 2024, L'Oréal's Big Bang Beauty Tech Innovation Program is betting big on beauty innovation and investment across North Asia. While fostering disruptive beauty solutions in partnership with startups and SMEs, the conglomerate’s latest initiative aims to bring the unique landscapes of C-J-K Beauty (China-Japan-South Korea) to the forefront of consumer and business interest. This holistic beauty ecosystem is being developed via a multi-pronged approach; from L’Oreal’s Green Sciences division to phygital interactions and generative #AI. And it’s working. Since being piloted in 2020, over 2,000 participants have taken part in Big Bang across North Asia. Can the company transform North Asia into a beauty tech powerhouse? https://lnkd.in/eGhb6CNU
Jing Daily
Technology, Information and Media
New York, New York 21,948 followers
Decoding the most important trends shaping China and global luxury markets of today.
About us
Launched in 2009, Jing Daily is the leading authority for daily news and analysis on luxury consumer culture in the China market. Based in Manhattan, New York, Jing Daily's team is formed on a global scale coming from eclectic backgrounds. Our professional insights have led to partnerships with Gucci, Tiffany & Co. and other prominent luxury players. We also work closely with press titles such as the New York Times, BBC, Business of Fashion, Harper’s Bazaar and Forbes. 创办于2009年, Jing Daily精奢是奢侈品消费者文化在中国的新闻及分析方面的权威媒体。总部位于纽约曼哈顿,Jing Daily精奢团队拥有来自全球不同的语言和文化背景的专业人士。我们的对中国市场流行趋势的专业解读吸引了不少合作者,例如Gucci, Tiffany &Co. 以及其他奢侈品行业的领军品牌。 与此同时,我们的其他合作者包括了the New York Times, BBC, Business of Fashion, Harper’s Bazaar 以及 Forbes等诸多主流媒体。
- Website
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http://www.jingdaily.com
External link for Jing Daily
- Industry
- Technology, Information and Media
- Company size
- 11-50 employees
- Headquarters
- New York, New York
- Type
- Privately Held
- Founded
- 2009
- Specialties
- China, Business, Luxury, Automobile, Lifestyle, Design, Chinese, Fashion, Travel, Web 3, Metaverse, Collabs, Jing Meta, Finance, Culture and Crypto, C-Beauty, China Consumer, and China research
Locations
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Primary
135 Madison Ave
8
New York, New York 10016, US
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Beijing
Beijing, CN
Employees at Jing Daily
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Daniel André Langer
CEO Équité | Top 5 Global Luxury Leader | Pepperdine + NYU Luxury Professor & Keynote Speaker | Bestselling Author | Featured in Forbes, Economist…
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Avery Booker
Co-Founder & Head of Data at Jing Daily
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Xiaofeng Gu
Global Chinese Consumer Strategy and Insights | President, Jing Intelligence | Founder, Kollective Influence
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Crystal Tai
Author, Trend Forecaster, Senior Managing Editor at Jing Daily
Updates
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They may be relatively new to the workplace and the consumer market, but China’s Gen Z citizens, also referred to as the “post-2000” generation – or individuals born after 2000 — have already proven elusive to pin down. According to new data from Zhaopin.com, Gen Z consumption patterns in China are significantly shaped by impulsivity, with 49.1% of younger shoppers increasing their spending to “live in the moment”. However, the study also reveals a contrasting trend towards rational consumption, indicating a cautious approach to purchasing. Can brands hit a sweet spot between the cohort's desire for instant enjoyment and their growing value discernment? https://lnkd.in/eY-PAkD3
Gen Z’s spending patterns a mixed blessing for luxury brands in China
jingdaily.com
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A number of luxury brands have implemented significant price increases in #China this year, as part of a strategy to fight inflation, maintain brand value, and maximize profits. But it's not just fashion retailers raising prices; hikes have also extended into the beauty and hard luxury segments, following the rising cost of materials and muted financial turnarounds. With some brands having upped their prices by 20% in the first half of 2024, are these adjustments damaging consumer demand, or reinforcing brand prestige? We explore here: https://lnkd.in/ef55VvQu
Luxury price hikes in China: Strategic or risky?
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According to new data from FINN Partners and ILTM Asia Pacific, affluent Chinese women are at the forefront of luxury travel’s evolution, outspending their male counterparts significantly in some industries. This new generation of wealthy female spenders, however, are seeking far more than shopping or selfies, with many preferring experiences over material goods. With the demographic driving new trends that are reshaping the industry, what does it mean for brands? We break down the data and the opportunity for retailers here. https://lnkd.in/e9XZqkPu
How affluent Chinese women are shaping the future of luxury travel
jingdaily.com
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Amid a global luxury market slowdown, Burberry is feeling the pinch. Earlier this week, the maison announced its plans to launch a 45-day consultation that is likely to result in significant job cuts, predominantly impacting the brand's UK offices. The news comes as no surprise, given the brand's recent restructuring and reported 4% YoY revenue drop for the fiscal year ending March 30, 2024, with adjusted operating profit plummeting 25%. Will its latest turnaround strategy bear fruit?
Burberry eyes job cuts as China profit slumps
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With China’s consumer confidence in 2024 still taking hits, the recovery of luxury goods consumption has proven to be volatile. Some brands like Miu Miu achieved stratospheric growth as of recent, while some heritage brands, have suffered. Strategic product lines, revamped media campaigns, and consumer sentiment have all played a part in the success of some brands more than others. As social media impact is key to brand performance in China, Re-Hub’s quarterly Compass Index provides a barometer of impact and consumer noise. Here is our latest coverage with supporting data as Q2 has come to a close:
Which luxury brands won and lost on China’s socials in Q2?
jingdaily.com
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China’s beauty market is booming, driven by senior spending, holistic wellness, immersive retail experiences, and yes even innovative #sunscreen products. In our latest assessment of the c-beauty market, Lisa N. breaks down the full spectrum of cultural shifts and consumer demands fueling the growing of #beauty + #wellness in the region.
From seniors to sunscreen, these are the trends fueling China's beauty surge
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It's no surprise that China has established itself as a formidable leader in social commerce. Users literally can browse and purchase directly through social apps and even creator platforms with zero friction. According to McKinsey & Company vast user bases and sophisticated platform integrations are the obvious reasons as to why as they forecast the market will expand to $145 billion by 2027, up from $67 billion today. Here we take a deeper look into exactly who comprises that buyer segment and the platforms leading the way.
China leads the way as social commerce soars globally: McKinsey
jingdaily.com
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The men's fine jewelry market is poised to outpace the women's sector in annual growth rate, reshaping the global luxury landscape. In China, pop stars such as Wang Yibo and Jackson Yee have driven the trend toward gender-fluid fashion, normalizing traditionally feminine jewelry for men. But with local brands commanding a home-field advantage, is it too late for global jewelers to cash in?
Is men’s jewelry set to take off in China?
jingdaily.com
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China’s Gen Z is redefining how diamonds are perceived and purchased. 💎 Understanding this cohort's unique characteristics is essential for stakeholders seeking long-term success in the diamond industry. From self-purchasing to embracing "quiet luxury," here are the top diamond trends among China’s youngest luxury consumers.
Gen Z shapes the future of China’s diamond market
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