The full collection of the lipsticks released by the Palace Museum, Dec. 9, 2018. /Photo courtesy of the Palace Museum Cultural and Creative Store

In 2013, China overtook Japan to become the world’s second-largest beauty market, while this year, it is estimated that the retail sales volume of cosmetics will surpass 270 billion yuan.

Fenty Beauty, the make-up label founded by singer Rihanna, has launched a flagship store on Tmall Global to mark its entry into the Chinese market.

To grab a share of the cosmetics market, domestic enterprises are jointly developing cosmetic products through cross-industry collaboration.

For instance, Beijing’s Palace Museum rolled out a set of lipsticks in collaboration with a domestic biotechnology company. The products became hot items after their Tmall debut.

Wuhan-based brand Mayinglong Pharmaceutical Group Co Ltd is well-known for its hemorrhoid ointment. This summer, Mayinglong launched a set of three lipsticks.

The original products were a success online because of the mismatch of a hemorrhoid cream company selling lipsticks.

Men are also becoming more enthusiastic about beauty products. In fact, the global market for male cosmetic products exceeded 400 billion yuan in 2017. The figure is expected to reach 540 billion yuan by 2023.