GMV of major cosmetic brands China 2023
In 2023, L'Oréal recorded a gross merchandise volume (GMV) of around 10.88 billion yuan in China, the highest among leading beauty and cosmetic brands. On the list of the leading 20 brands in terms of GMV, there were 13 foreign brands and only seven domestic brands. However, domestic brands witnessed a significant year-over-year growth in general, with the GMV of Kans rocketing by over 120 percent in 2023.