Asia is the largest and fastest growing region for luxury beauty 

Home to more than half of the world's consumers,Asia is packed with promise—both as the largest region for luxury beauty and as the fastest-growing region in the world with an estimated CAGR of11percent.

As we approach the end of the first quarter of the 21stcentury.China, Japan,and South Korea-the largest markets for luxury beauty in Asia—have begun to saturate. Stiff competition and heightened consumer maturity are making it more challenging for brands to win consumers and scale fast in these large markets. Global luxury beauty brands such as Chanel Dior, Estee Lauder—which entered early—and LOreal have thrived as the affluent middle-class penchant for luxury, quality. and associated social status has grown.