2019年化妆品分析报告.docx

2019年化妆品市场分析报告  目 录 1 2 百年发展传奇，化妆品行业翘楚 .....................................................................................................................................1 1 1 .1 化妆品巨头公司的成长之路 .............................................................................................................................................1 .2 并购整合铸就世界化妆品行业的领先者 .........................................................................................................................2 多元化和互补品牌的投资组合 .........................................................................................................................................5 2 2 2 .1 品牌矩阵：品牌矩阵齐全，覆盖美妆所有领域 .............................................................................................................5 .2 奢侈品崛起，成欧莱雅增长引擎 .....................................................................................................................................9 .3 新兴市场贡献显著...........................................................................................................................................................10 3 4 规模化品牌扩张，演绎品牌收购史................................................................................................................................12 3 3 3 .1“疯狂”收购之路............................................................................................................................................................12 .2 超级稳定的 ROE、毛利率、净利率、费用率................................................................................................................13 .3 欧莱雅在中国的品牌金字塔战略 ...................................................................................................................................15 中国化妆品市场规模持续增长，国产品牌有望突围.....................................................................................................17 4 4 4 .1 全球市场回暖，亚太地区成最大消费市场 ...................................................................................................................17 .2 我国化妆品市场表现