What business leaders are watching at CIIE: Part II
Charles Kao, Amorepacific China president
What are the highlights of your exhibits at the China International Import Expo? Are you launching any new products, technologies or solutions?
Amorepacific brings our pioneering customized beauty technologies to the CIIE. One noteworthy innovation is our tailored skincare solutions featuring tailored serum and tailored mask, personalized for every customer. Customer will be able to create a customized sheet mask pack on the spot by using 3D printing and IoT technology. The serum that comes with the mask pack will provide a customized solution through an accurate and professional skin analysis. It is the first time that we are introducing the innovative tailored solutions to China. We will also launch customized beauty solutions: Beauty Mirror smart app and My Two-Tone Lip Bar at the CIIE.
In terms of deals, what do you expect from the CIIE? Whom are you targeting?
We look forward to seizing this opportunity and listening more closely to our customers and the market. We will keep introducing more brands and innovative products that fit the Chinese market in order to bring more segmented/specialized and diverse product options to our customers.
Do you think the CIIE could eventually help drive the development or upgrade of the industry your company is in, and your company's strategy in China?
We are privileged to take part in this grand event. We look forward to utilizing this brand new platform to showcase some of our innovative products and technologies as well as creative business models and ideas.
We also expect to reinforce our partnership with interested parties in China in order to further fulfill our commitments on beauty and health needs and play a more positive role in the thriving of China's cosmetic industry.
What is your view on China's pledge to further open up its markets to foreign companies? How would that benefit your business? Please give specific examples.
China has introduced a series of preferential measures that are beneficial to the development of overseas-funded enterprises. For our overseas-funded enterprises, this would be rare opportunity.
As an example, in November of this year, the examination and approval model of administrative licensing for first-time imported, non-special cosmetics will be changed to recording. Thanks to this policy, our newest overseas products can reach Chinese customers right in the season when they are launched. We will make use of such policies to respond to the local consumer demands in China, and to bring more and better new products into Chinese market in time.
What is your forecast for China's economy in the next three years? What key issues will you be watching for?
China has one of the most dynamic cosmetic markets in the world, and it is the largest overseas sales market of Amorepacific. We have confidence in the growth potential of China's cosmetic market. In the future, we will introduce more new brands and products that are integrated with the Asian beauty heritage, and bring Asian Beauty to more Chinese customers.
