Glonghui, September 11 | According to the Bible, in the hit drama “Blossoming Flowers” at the beginning of the year, Estée Lauder face cream was popular in Shanghai as a “popular item” in the 90s of the last century. However, there is a sharp contrast between reality and plot. In the first half of this year, the big imported beauty brands seemed unable to sell. Once upon a time, with the “Dongfeng” of reform and opening-up, international beauty and cosmetics giants such as P&G, L'Oréal, Estée Lauder, and Shiseido collectively poured into the Chinese market. By 2024, when international beauty giants are commemorating the 30th or even 40th anniversary of entering China, they will clearly lose their former beauty. In the past half-year earnings season, international beauty giants collectively “called for trouble” in response to their performance in the Chinese market. In the first half of this year, L'Oréal's North Asia sales fell 1.7% year on year, and Shiseido's sales in China fell 7% year on year. In fiscal year 2024 ending June 30, Estée Lauder's net sales in Asia Pacific fell 6% year on year, and P&G China organic sales fell 9% year on year. The beauty giants' poor global performance is directly reflected in layoffs, cost reduction and efficiency until they exit the regional market. Since 2024, news of layoffs among international beauty brands has continued. Among them, there is no shortage of beauty giants such as Estée Lauder, Sephora (LVMH), Unilever, Henkel, and Kexin.