China Cosmetics Monthly Tracker

China's online cosmetics GMV growth decelerated to 2% in April 2026, driven by a sharp 27% decline on Tmall/Taobao that was only partially offset by 21% growth on Douyin.

Key Takeaways

• 1.Total China online cosmetics GMV growth slowed to 2% in April 2026, a deceleration from 6% in 1Q26.
• 2.There is a significant platform divergence: Douyin grew 21% while Tmall/Taobao declined 27% in April.
• 3.Local brands Shanghai Jahwa (+53%) and Mao Geping (+36%) were the top performers in April, significantly outperforming peers.

Table of Contents

• Apr online GMV performance
• By Brand
• SKU tracker
• High-frequency industry data
• Key announcements & Reports
• Sector valuation
• Global Cosmetics comp table
• Price Target Risks and Methodology
• Disclosure Appendix

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