Day 1 of the 618 shopping festival showed a better start than Women's Day but lacked broad excitement, with Mao Geping leading the sector while peers like Giant Biogene and Bloomage faced steep declines.
Key Takeaways
- 1.The 618 shopping festival is critical for the sector, historically contributing 75% of 2Q online GMV and 21% of full-year GMV.
- 2.Mao Geping is significantly outperforming peers, delivering 10%+ YoY GMV growth during Day 1 livestreaming.
- 3.Several leading domestic brands are facing severe headwinds, with Giant Biogene and Bloomage seeing GMV declines of ~72% and ~68% respectively on Day 1.
Table of Contents
- Overview of product listings
- Day 1 performance by brand
- Industry update
- Price Target Risks and Methodology - Giant Biogene Holding
- Price Target Risks and Methodology - Proya Cosmetics
- Price Target Risks and Methodology - Mao Geping Cosmetics Co.
- Price Target Risks and Methodology - Bloomage Biotechnology
- Price Target Risks and Methodology - Botanee Biotech
- Price Target Risks and Methodology - Shanghai Jahwa United
- Disclosure Appendix
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Authors
Valerie Zhou
Securities
MGPGiant Biogene HoldingProya Cosmetics688363
Themes
Shopping Festival SeasonalityDirect-to-Consumer and KOL Strategy
Regions
Asia PacificChina