The Rising Influence of Rising Affluence

[DewDiligence]

The KFC Call comes to cosmetics:

https://www.nytimes.com/2023/09/17/business/china-cosmetic-imports.html

…many Chinese consumers…are now splurging on lipstick, perfume, moisturizers and other personal care products.

…As China’s cosmetics companies are booming, imports of cosmetics are wilting under regulations that the country imposed on foreign manufacturers during the pandemic.

…Under rules that China introduced in 2021, companies must divulge every ingredient in their products and the precise quantities used. They must upload to a Chinese database the addresses of all ingredient suppliers as well as where the ingredients are assembled. Foreign companies fear that divulging those details could allow low-cost Chinese manufacturers to copy their products.