Government News
Multinationals drawn to CIIE with confidence in growth prospects 2024-11-09
A selfie with the CIIE mascot.
New investment and partnership were announced at the China International Import Expo, signalling multinationals' confidence in long-term growth prospects of China's vibrant consumption market.
André Maestrini, executive vice president of international at sportswear company lululemon, regards its first-time participation at the CIIE as a significant moment to kick off its next chapter of growth and innovation in China.
"The China market has quickly become a key growth engine for lululemon's global business, and we are committed to keeping investing in China to unlock further growth potential here," he said.
The company expects the Chinese mainland to become the second-largest market worldwide by 2026 with more than 200 stores, compared with the current 130 stores.
More than 100 participants took part in a yoga session at the National Exhibition and Convention Center organized by lululemon on Friday.
Tolga Öncü, Ingka retail manager at Ingka Group, said China is already at the forefront of technology applications and new consumption models.
"Traveling to China is like traveling into the future, and the retail market is full of vibrancy," he added.
The group's first retail development center in China will serve as a long-term impetus for future development to work on better solutions for local customers.
The company points out that China's drive for innovation could empower global retail. It aims to promote exchange and co-creation to accelerate the promotion of China innovation results to the global market.
IKEA's Chinese New Year offerings are displayed at the expo.
Beiersdorf which is returning for the second time announced the debut of its skincare and cosmetics brand Chantecaille to broaden its brand portfolio, following the launch through e-commerce site Tmall.
The German personal-care group said it aims to introduce more tailor-made products to satisfy the unique preferences and needs of Chinese consumers with a focus on innovation, digitalization and sustainability.
Beiersdorf CEO Vincent Warnery pointed out that Chinese consumers possess robust purchasing power, and the market demonstrates a trend of consumption upgrading, meaning vast opportunities for the development of Beiersdorf's iconic brands in China.
Nippon Paint is one of the first-time exhibitors in the newly-added new materials special section, and it's showcasing a series of new products, with a focus on smart road construction and urban air purification.
During the expo it has already reached partnerships to use energy saving and carbon-cutting solutions at several communities in the Pudong New Area.
Unilever is returning to the fair for the seventh time.
Both Unilever and Herbalife are among the top multinationals returning for the seventh time to the fair.
Hair growth supplements Nutrafol and electrolyte drink mix Liquid I.V. are the highlight at Unilever's booth as functional supplements in niche segments are gaining momentum.
The personal-care giant is presenting nearly 100 products from 10 brands as self-care awareness is on the rise.
The expo was also a confidence booster for United States-based nutrition product manufacturer Herbalife.
Last month, it put into operation a global business service center in Dalian, Liaoning Province, to better respond to the local market with an integrated functional team.
It has also drawn on China insights to offer protein powders in local flavors.
Its plans to deepen penetration in the local market with the complete industry cycle of research, manufacturing, and functional support facilities available here, according to Herbalife China General Manager Stella Tsai.
Source: Shanghai Daily
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