Global brands are showing increasing interest in the Chinese market, as they vie to showcase their latest products and attract local consumers at the China International Import Expo (CIIE), which saw a record 400-plus debuts this year.
As the world's first national-level import expo, CIIE has become a global stage for innovation. This year, a record number of new products have been showcased, highlighting the latest trends and technologies.
This year's newcomer, lululemon, the Canadian sportswear brand, is bringing something unique to the event - a yoga experience. The company's giant yoga mat booth is hard to miss and is proving to be one of the biggest attractions at the expo.
Having done business in China for more than 10 years, the company said its first appearance at the trade expo is a milestone.
"That's the key moment in the life of lululemon in China - to be present and to widen our audience with the Chinese market, to broaden our awareness and to keep launching and innovating products for the China guests," said Andre Maestrini, Executive Vice President, International, at lululemon.
The company has projected that China will be its second largest market by 2026. And it's making great effort to catch new trends favored by Chinese customers.
"There is a boom of interest of the Chinese guests in the market for fitness, for wellness. So we see the versatility, the usage of our product going also in the casual, active lifestyle. And I think we are uniquely positioned [to meet] unique needs for the China guests," said Maestrini.
More than 400 new products, technologies and services have made their global, Asian or Chinese debut during this year's event. One such example is L'Oréal, a renowned French cosmetics company.
In their seventh year at the CIIE, they've unveiled more than 10 new products, including a revolutionary hairdryer introduced for the first time in China.
"It's light-powered. It takes well less time than before for any hairdryer. It's all about the technology, and the technology, I'm proud to say, is a partnership between L'Oréal and Zuvi, a Chinese company," said Vincent Boinay, President of L'Oréal North Asia and CEO of L'Oréal China.
The company sees CIIE as a testing ground to gauge the Chinese market's response.
"The Chinese market is, as you know, not one market, but several markets – between tiered cities, between customers, between age groups, between Gen Z and boomers. And you know this expression, if you can make it here, you can make it everywhere," said Boinay.
Since its inception, CIIE has been a launch pad for countless brands. Over 4,500 domestic and international brands have launched their new products in Shanghai, with over 7,000 new first store openings.
Experts say the increased presence of international brands at CIIE reflects their strong commitment to the Chinese market and a greater push for innovation.
"China's huge market potential has attracted foreign brands. By debuting products in CIIE, an exhibit can be turned into a commodity and even a hot seller. We are also expected to see big brands set up R and D centers here to engage with Chinese consumers. Ultimately, it will drive global innovation," said Zhang Yong, associate dean at the Shanghai Advanced Institute of Finance at Shanghai Jiao Tong University.
Over 400 products debut at CIIE as Chinese market holds appeal
