Estee Lauder's Too Faced to shutter Tmall store
Upon browsing the beauty brand's store on the Tmall e-commerce platform, all products in the store have been taken down. Membership services and points redemption will remain open until July 27, according to the brand’s announcement on its flagship.
Despite the store closure, Too Faced products will still be available for purchase via Australian beauty retailer Mecca and its Tmall store, with the product offering being minimal in comparison.
Too Faced's exit from the Alibaba-owned marketplace has spike speculation that the beauty brand, acquired for $1.45 billion in 2016 by Estee Lauder, could be exiting China, affected by the nation's recent Covid-19 restrictions which has upended retail sales figures in the market.
In May, parent company Estee Lauder cut its full-year profit forecast as fresh Covid-19 curbs in China continue to dent the company's cosmetic sales.
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