The Oriental Beauty Valley in suburban Fengxian District is home to more than one-third of Shanghai’s cosmetics companies, with an industry value of nearly 100 billion yuan (US$13.72 billion), the district government said at China’s top cosmetics meeting on Thursday.
The brand value of the valley, the nation’s only “Capital of China’s Cosmetics Industry,” has reached 33.9 billion yuan, it said at the Oriental Beauty Valley 2023 International Cosmetics Conference.
The annual event brought together domestic and international cosmetics companies, experts, scholars and industry leaders to discuss global trends in the beauty and cosmetics industry.
Shanghai Vice Mayor Chen Jie unveiled the “Oriental Beauty Valley China Special Cosmetics Raw Material Base Alliance” during the conference.
The alliance will cooperate with several domestic herb and plant cultivation bases in the southwestern provinces of Yunnan and Sichuan, the eastern provinces of Anhui and Shandong, and the northwestern Ningxia Hui Autonomous Region, Gansu Province and Xinjiang Uygur Autonomous Region.
The alliance will apply new technologies to transform these traditional herbs and plants into unique Chinese cosmetic raw materials, the valley said.
The Valley, in collaboration with industry giants such as L’Oréal, Shiseido, Estée Lauder, Clarins and JALA, also released the “Oriental Beauty Valley ESG (Environmental, Social and Governance) Joint Initiative” during the event.
The initiative calls on all companies in the cosmetics industry to have clear goals, strategies, plans and effective results in building a better future for sustainable development.
As one of the most influential international events in the global cosmetics industry, the conference has been held for six consecutive years.
