Aesop to Shut First Mainland China Store After Less Than Three Years
Aesop is set to close its Dongping Road store in Shanghai—its first physical retail site in mainland China—on May 10, just two and a half years after opening. The post Aesop to Shut First Mainland China Store After Less Than Three Years appeared first on Global Cosmetics News.
THE WHAT? Aesop is set to close its Dongping Road store in Shanghai—its first physical retail site in mainland China—on May 10, just two and a half years after opening.
THE DETAILS The store, which opened in November 2022, will cease operations due to the lease ending, according to a statement made to Beijing Business Today. The closure is the brand’s first in the Chinese market. Since being acquired by L’Oréal in 2023, Aesop has accelerated its expansion in China, opening approximately one store per month and operating 21 stores to date, including at airports and in shopping malls.
THE WHY? The closure points to shifting dynamics in China’s premium beauty market, where rising costs and uneven footfall are prompting brands to reconsider the viability of street-level retail. Aesop’s move suggests a possible recalibration toward high-traffic and lower-risk formats like malls and transport hubs.
The post Aesop to Shut First Mainland China Store After Less Than Three Years appeared first on Global Cosmetics News.
