Carnet de vol
Insights from the July 2026 webinar · Cosmoprof × LYC Partners
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Dominique PetruzziStatista
Valeria CavalcanteCEO, Vagheggi
Jenny LaiPresident & CEO, BluebellThe complete notebook — every market number, all four decisions and the twelve-check entry checklist. Leave your details and the download is yours.
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APAC beauty is roughly $159 billion in 2026, forecast to reach about $217 billion by 2031 — around 8% a year, some $58 billion of new spending in five years (Statista). But the countries sit at very different stages. Choose where you can win.
| China | $75bn → $87bn. World's second-largest beauty market. Premiumisation, ingredient-led innovation, fast-rising C-beauty; colour cosmetics near $22bn by 2030. Social commerce owns discovery and purchase. It is about value now, not just volume. |
| Japan | $50bn → $55.3bn. Third-largest. Loyal, conservative, science-led; luxury holds 84% of department-store sales. Slowing after the COVID peak — not declining. |
| Indonesia | $11bn → $14bn. Fragrance, sun care, wellness lead. Halal certification is moving from expectation to legal requirement. |
| Thailand | $7.4bn → $9.4bn. Premium skincare, medical-grade beauty, wellness. Ingredients, quality and safety rank above price. |
| Malaysia | $4bn → $5bn. Small but a leader in halal beauty; ingredient- and safety-conscious. |
| Vietnam | $2.85bn → $3bn+. Easy to overlook: young, mobile-first Gen Z, open to new brands, rising spend. |
The same nine markets, ranked not by size but by how easy they are for a first-time European entrant to win in (Statista, this session).
| Singapore | Hub. Easier regulation, affluent consumers, strong premium-beauty demand. Watch: Small population limits long-term scale. |
| Australia | Trust. High purchasing power; consumers trust European brands; mature retail and e-commerce. Watch: Smaller population; acquisition costs are high. |
| Malaysia | Halal leader. Growing middle class, strong demand for international brands, good digital commerce. Watch: Lower spend per consumer; diverse halal needs. |
| South Korea | High risk, high reward. The trend-setter; full of beauty-savvy consumers; rewards a truly differentiated product. Watch: Local brands innovate fast; marketing costs are high. |
| Japan | Loyalty. Large premium market; consumers stay once they trust a brand. Watch: Trust takes time; lengthy regulation; difficult retail partnerships. |
| Thailand | Social commerce. Fast-growing; tourism drives sales; very strong social channels. Watch: Price-sensitive buyers; fierce K-beauty and local competition. |
| Vietnam | Digital native. Fast-growing; young, mobile-first Gen Z open to new brands. Watch: Lower spend per consumer; fragmented distribution. |
| Indonesia | Scale, with rules. Huge population and a rapidly expanding market. Watch: Halal becoming a legal requirement; logistics and regulation to plan. |
| China | The prize. Unmatched scale if your ambition is size. Watch: Mature and fiercely competitive — brand-building never ends. |
Two maturing giants, a fast-growing Southeast Asia, and wellness woven through all of it. Pick your market on purpose.
Valeria found what she calls a sister: nearly thirty years, one partner. Jenny Lai — whose group has brought 150+ international brands into nine markets — sees the same divide. Brands that fail treat the distributor as a buy-and-sell channel, opening as many doors as possible. Brands that last build brand equity together, for years.
A distributor opens shelves. A partner opens the market — sharing research, agreeing hero products, adapting the story locally, and staying through the bad seasons. Valeria changed products, communication and business models for China; she never changed the core values. That kind of give-and-take only happens on trust.
Push product without building desire and you meet the Chinese discount machine — 70–80% off online. Once prices collapse that far, recovery is very difficult. The stable skincare brands plan for it: they spend 40–50% of expected sales revenue on advertising and promotion, on top of gifts-with-purchase, local exclusives and packaging.
The Chinese customer is now very sophisticated — almost used to seeing the best of every brand. In skincare she reads the science and the data; across the rest of life she spends on health, wellness, fragrance and small daily indulgences. She buys a quality of life, not a status symbol. Win her, and she travels — she becomes a global ambassador who can lift the whole brand.
Valeria visits China at least eight times a year; some salon clients have stayed with the brand for 28 years. Her advice: understand and deeply respect the culture, listen more than you speak, and take the long view — the market rewards years, not quarters. Jenny Lai puts the operational version in one line: remote management rarely works.
Relationships in Asia are built in person and over years — and the market changes faster than most. Vagheggi works only through the professional spa and salon channel: consultation, treatments, education, measurable results. It generates deep loyalty, and it drives home-care sales from trust. Her Chinese partners have gone further still, building training programmes that give unemployed young women an education in beauty therapy and a permanent job — a depth of relationship a remote office never reaches.
In Southeast Asia presence plays out differently but just as locally: halal is becoming law in Indonesia, and Thailand's knowledgeable consumers weigh ingredients and safety above price. Local rules, local people.
Localisation is non-negotiable, Jenny says — different consumer journeys, different social channels, different retail ecosystems demand dedicated local teams or strong local partners. And Valeria's first and last advice is about respect at the top: the people lead, the strategy follows.
The same brand thrives or fails on the person running it in market. That leader holds the partner relationship, guards the demand budget, keeps the brand honest when discount pressure comes, and carries the culture across borders. Europe is not one country; neither is Asia — no single playbook travels with the product. This is the exact question LYC Partners works on: who runs your Asia business, and are they set up to succeed?
Look closely and the four decisions are one: the partner, the demand, the presence — and the person who runs all three. Get the people right, and the rest is execution.
The conversation continues live in Hong Kong, this November. Meet the LYC Partners team at the CEO Talks at Cosmoprof — and watch the full webinar at lyc-partners.ai.
LYC Partners is a leadership advisory and executive search firm helping multinational companies build the leadership teams that win in Asia and across borders.