Pechoin, a home-grown cosmetics brand in Fengxian, was recently awarded a top prize by the International Federation of Societies of Cosmetic Chemists, becoming the first Chinese brand to appear on the winner list.
Pechoin was selected on the merits of brand strength and research capacity. It ended China's void of top honor from the IFSCC, also dubbed the "Nobel Prize in Cosmetics," although the country is one of the world's biggest cosmetics markets.
After presenting the prize, IFSCC President, Professor Jurgen Lademann, said he hoped Pechoin can stimulate effort for quality improvement in the region's cosmetics industry.
"Pechoin was founded in 1986 with a magpie as its logo. Pechoin's sales of skin care products reached 13.8 billion yuan (US$2 billion) in 2016," said a Pechoin executive. The company uses natural ingredients and biochemical and sunscreen technologies to make products which are increasingly popular among young people.
However, Pechoin still has a long way to go to win customers in overseas markets, said Sang Jingmin, chairman of the China Beauty Expo organizing committee. He said China's cosmetic industry is still quite young and needs to do more in product research and development.
The IFSCC now has 48 societies and members in 78 countries, including L'Oreal, SHISEIDO and Chanel. It holds a conference every two years.