Inside China's Beauty Business with Stéphane Wilmet

ShanghaiZhan: All Things China Marketing, Advertising, Tech & Platforms

May 27 2023 • 50 mins

Stéphane Wilmet, a highly accomplished executive in the consumer beauty industry, joins our show today. With over 30 years of experience, Wilmet has held prominent positions in the United States and China. Notably, he served as the Chief Consumer Officer at L'Oréal China, overseeing consumer strategic branding, insights, foresight, and M&A activities, playing a crucial role in shaping the company's brand strategies and understanding the Chinese market. During the pandemic, Wilmet returned to the United States and worked as the Senior Vice President, of M&A, at L'Oréal USA in New York. He works as an advisor to private equity firms and shares his expertise as a guest lecturer at various business schools. 1. Off-topic, but any interest in buying a motorcycle? 2. We know that the beauty business in China is big, but are market nuances that the world can learn from China regarding how business is run here? (Hint: scale and speed) 3. How did L'Oreal stay vigilant with new product development? 4. How do we continue to build brands in a deep discount live stream environment? 5. Livestream help cast a net to recruit new consumers, but how do brands deal with high returns? 6. Will Western and Chinese beauty shopping behavior converge? Are shopping patterns becoming the same as digital ecosystems become similar? 7. Do beauty brands need an offline presence given the power of online? 8. Will we have a time that Chinese beauty brands will go global? 9. Any amazing Chinese beauty brands that you have your eye on? 10. How do young people get into the beauty industry? 11. Are men welcome in the beauty industry? 12. A/B Test: Authentic/New York/C/K/J-Beauty - what's C-Beauty's role?/ Virtual KOLs