THE WHAT? Elf Beauty is planning to exit the Chinese market at the end of March, closing down its Tmall and Douyin stores, according to a report published by Yahoo! News, quoting WWD.
THE DETAILS The US make-up brand has found market conditions tough for some time, with Covid-related restrictions lasting nigh on three years and, prior to the pandemic, additional tariffs enforced as a result of the US-China trade dispute.
THE WHY? The brand posted a statement on its Tmall homepage, per Yahoo!, “Since we entered the Chinese market, we have been attuned to the needs of our consumers and are committed to providing every eye, lip and face with new and trendy make-up products. Unfortunately, due to global strategy adjustments and other objective factors, we will leave the China market.”
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