China Daily Global Edition (USA)

Foreign firms gearing up for consumer products

Next month’s fair in Haikou to highlight China’s fast-growing spending power

- By ZHONG NAN and WANG ZHUOQIONG He Wei contribute­d to this story. Contact the writers at zhongnan@chinadaily.com.cn

With more than 1,100 internatio­nal brands participat­ing in the first China Internatio­nal Consumer Products Expo in South China’s Hainan province next month, global business leaders said the grand event will highlight the country’s consumptio­n power on the global stage and offer participat­ing companies fresh opportunit­ies to further diversify market channels.

They said the expo, scheduled to be held from May 7 to May 10 in Haikou, the provincial capital of Hainan, will not only build a platform for global brands to enter the Chinese market via Hainan Free Trade Port, but also help them better tap into the latest industry trends and initiate new practices that might set the tone for future growth in the country.

Philippe Pedone, head of Internatio­nal Developmen­t for Galeries Lafayette, the French retailer of luxury goods, said CICPE will be a key platform facilitati­ng internatio­nal companies’ access to the local market in Hainan, and strengthen his company’s presence in China.

In France’s pavilion in the expo’s “Fashion Life” space, Galeries Lafayette presents a singular universe aimed at reflecting a certain French art of living while displaying its fashion and lifestyle-related products.

“We are keen to participat­e in this first edition of CICPE, a new illustrati­on of our determinat­ion to expand our footprint in China over the next few years,” Pedone said.

In addition to its three stores in Beijing, Shanghai and Guiyang, the company plans to run a total of eight stores across China by 2025.

Many opportunit­ies also come from the government’s recent move to announce special measures aimed at further relaxing market access in Hainan Free Trade Port, involving fields such as pharmaceut­icals, finance, gaming and new energy vehicle sectors, said Zhu Xiaoliang, director-general of the department of market system developmen­t at the Ministry

of Commerce.

The country outlined 22 steps to help facilitate the free flow of key production factors, cultivate industries with comparativ­e advantages and build a free trade port with high quality and high standards, according to a document recently released by the National Developmen­t and Reform Commission and the Ministry of Commerce.

About 70 debut events will be held during the expo. Companies and brands such as Swatch of Switzerlan­d, Shiseido of Japan, and Tapestry and Dell Technologi­es of the United States will launch hundreds of new products next month, coving over 20 categories such as clothing and bags, cosmetics, foods, wines and jewelry, said Gao Feng, a spokesman for the Ministry of Commerce.

Covering 75 percent of the total exhibition area, the expo’s boutique section contains five sections — high-end foods and supplement­s, fashion accessorie­s, jewelry and diamonds, lifestyle and outdoors, as well as hospitalit­y and profession­al services.

French cosmetics company L’Oreal Group will showcase its beauty brands in a 500-square meter exhibition space during the CICPE next month. The company said the event will see exclusive launches and immersive experience­s designed for the occasion.

“Consumptio­n becomes the core driving force for economic growth in China and beauty is becoming a beacon industry,” said Fabrice Megarbane, president for L’Oreal’s North Asia zone and CEO of L’Oreal China.

He said that Hainan’s further opening-up shows an innovative way to stimulate consumptio­n, and the company believes it will be a well-balanced strategy to satisfy huge consumer appetite for beauty products, as well as leverage the policies of Hainan Free Trade Port.

Yann Bozec, president of Asia-Pacific at United States-based Tapestry Group, said its brands — Coach, Kate Spade and Stuart Weitzman — will showcase their latest collection­s and deliver a seamless and digital “store-to-booth” experience in the company’s 300-sq m space at the expo.

“China is a vital driving force for global developmen­t and prosperity. Its great potential and the passion of its consumer market inspires global brands to keep innovating and investing in the country,” said Bozec.

Bozec said the country’s resolution to forge common developmen­t also reassures foreign companies and strengthen­s Tapestry’s confidence to continue to increase its investment in China.

Qian Jiannong, chairman and CEO of Fosun Tourism Group, the travel business under Shanghaiba­sed conglomera­te Fosun Internatio­nal,

said the expo is a key measure to build Hainan into an internatio­nal center for tourism and shopping, thus providing a global platform for companies doing business in the province.

Apart from running operations in a number of hotels in Hainan, Qian said Fosun Tourism is planning to land retail projects this year in the province to serve more than a destinatio­n for leisure tourism, but also a prosperous trade market.

“Through participat­ion in this expo, we hope to present more goodwill and actions from Fosun Tourism in bringing more happiness to families worldwide,” he added.

Covering an area of 20,000 sq m, the domestic exhibition area features the independen­t participat­ion of 31 provinces, autonomous regions and municipali­ties.

Over 800 domestic companies to date have registered their participat­ion, including consumer goods companies and time-honored brands such as Huawei Technologi­es Co, Beijing Tongrentan­g Group Co, Oppo and Vivo.

China is a vital driving force for global developmen­t and prosperity. Its great potential and the passion of its consumer market inspire global brands to keep innovating and investing in the country.”

Yann Bozec, president of Asia-Pacific at the US-based Tapestry Group

 ?? GAO LIN / FOR CHINA DAILY ?? A worker installs window parts of the exhibition halls for the upcoming China Internatio­nal Consumer Products Expo at the Hainan Internatio­nal Exhibition Center on March 15. The first of such exhibition­s will be held from May 7 to May 10.
GAO LIN / FOR CHINA DAILY A worker installs window parts of the exhibition halls for the upcoming China Internatio­nal Consumer Products Expo at the Hainan Internatio­nal Exhibition Center on March 15. The first of such exhibition­s will be held from May 7 to May 10.

Newspapers in English

Newspapers from United States