J-Beauty and C-Beauty: Shiseido, Kao, Florasis Abroad — 2026-09-28
Kao's cosmetics business is back in the profit-driving seat with its share price recovering to the ¥3,600 range, while C-beauty brands push deeper offline abroad — Flower Knows entered 450 Ulta Beauty doors in the US, and Chinese brands are extending from cross-border e-commerce into physical retail. Meanwhile, China's August cosmetics retail sales hit a five-year high ahead of a longer, earlier Double 11 shopping festival.
J-Beauty and C-Beauty: Shiseido, Kao, Florasis Abroad — 2026-09-28
Top developments
Kao's cosmetics business powers earnings as shares return to ¥3,600
Japanese media reported on September 22 that Kao's cosmetics segment is no longer just detergent's sidekick — the segment has been growing profits, helping push the stock back above ¥3,600. The article frames Kao as the "stable grower" pursuing premium, high-value products, in contrast to Shiseido's ongoing transformation. It matters for Kao because premium skincare sensitivity (Sensai, Sofina) is becoming a genuine earnings pillar rather than a defensive afterthought.
Flower Knows enters 450 Ulta Beauty doors in the US
On September 20 — its tenth anniversary — Chinese makeup brand Flower Knows officially announced its entry into 450 Ulta Beauty stores across the US. Chinese consumer-media coverage notes that Ulta's price tags, converted into RMB, run at roughly twice domestic Chinese prices, underscoring the premium C-beauty brands can command abroad. This is a milestone for C-beauty's shift from e-commerce to brick-and-mortar distribution in the West.
C-beauty goes offline: from cross-border EC to physical channels
A September analysis on Phoenix Finance (published within the past week) traces how Chinese beauty brands' overseas expansion has evolved from a cross-border e-commerce starting point — such as Perfect Diary topping Shopee makeup charts in Singapore and Vietnam in 2020 and Florasis entering Japan in 2021 — toward physical retail openings. Maogeping is also reportedly planning channel expansion into Southeast Asia, Japan, Europe and the US this year. The offline pivot raises stakes for Shiseido, Kao and Kosé, whose home-market and travel-retail channels now face direct C-beauty competition.
China's August cosmetics retail sales hit five-year high for the period
China's National Bureau of Statistics figures show August cosmetics retail sales at RMB 36.8 billion, up 4.9% year-over-year and up 42.64% month-over-month, with both August and the January–August cumulative total at five-year highs for the period. Reported in the week of September 14–20, this points to a stabilizing domestic base for Proya, Florasis and peers as they fund overseas expansion. The same weekly roundup noted Proya's Hainan investment arm taking a stake in Kedai Bio (parent of BiShengZhiYan) via a business registration change on September 17.
Tmall's Double 11 2026 calendar starts earlier than brands planned
Tmall published its Double 11 2026 calendar this week: pre-sale deposits open October 15, final payments and spot sales begin October 20 at 8pm, and the festival runs until November 13 midnight — roughly 25 selling days. The extended format will pressure J-beauty players like Shiseido and Kao, whose China e-commerce results increasingly hinge on festival-period performance, to commit earlier inventory and marketing budgets.
Local view
Chinese-language outlets frame the current phase as a qualitative upgrade, not just sales growth: 36Kr-affiliated commentary on Huxiu (4 days ago) argues that early C-beauty expansion relied on cross-border EC and price advantage, while 2025 saw brands appear in "core global beauty arenas" — Ginza flagship windows, Sephora and Ulta in New York — as they compete for a kind of "definition rights" over global beauty. On the Japanese side, Yahoo News/LIMO commentary positions Kao as the steady, quality-driven grower contrasting with Shiseido's restructuring turnaround, with cosmetics now seen as a profit contributor by local retail investors.
Context & numbers
- August 2026 China cosmetics retail: RMB 36.8 billion, +4.9% YoY, +42.64% MoM — five-year high for both the month and January–August cumulative.
- Flower Knows: 450 US Ulta Beauty doors as of September 20; Ulta shelf prices roughly double domestic China prices in RMB terms.
- Kao share price: back in the ¥3,600 range as of September 22, helped by cosmetics segment profit growth.
- Tmall Double 11 2026: pre-sale deposits October 15; final payments/spot sales October 20 at 8pm; ends November 13 midnight (~25 days).
- For reference (older baseline): Shiseido H1 FY2026 (Jan–Jun) net sales ¥498.965 billion, +6.2% YoY, core operating profit ¥44.432 billion, +90.1%.
On the radar
- Double 11 2026 pre-sales open October 15 on Tmall — watch how early J-beauty brands (Shiseido, SK-II, Kosé) commit and whether Proya and Judydoll defend top Tmall/Douyin chart positions (Proya ranked first on Tmall and second on Douyin cosmetics in 2025).
- Maogeping's planned channel expansion into Southeast Asia, Japan, Europe and the US during 2026 — further C-beauty entry into Japan could be announced before year-end.
- Rumors of a Flower Knows price increase circulating on Xiaohongshu; treat as unconfirmed consumer chatter until officially announced.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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