Mao Geping Sees Resilient Sales and Margins Amid Weak Sentiment

Mao Geping Cosmetics derives over 90% of its revenue from color cosmetics and skincare sales in China. As Chinese brands have closed the gap in quality and innovation with global peers, consumer perception has improved, supporting market share gains over the past decade. MGP’s premium positioning has enabled it to capitalize on premiumization trends, outpacing mass-market peers. One key differentiator lies in its high-touch consumer engagement model. Through a nationwide network of self-operated counters staffed by trained makeup artists, MGP educates consumers on makeup application while demonstrating product efficacy. This strengthens brand engagement and loyalty, which has propelled MGP to become China’s second-largest color cosmetics brand.