Zhenshiming (ZSM), a well-known eye care brand in mainland China, launched two new CBD skincare products on Taobao, a Chinese online shopping platform. ZSM’s new CBD products are one eye essence and another eye mask, with “hemp leaf extract” labeled on their product packaging. Based on sales of ZSM’s product on Taobao, these two new eye care products did not so well as other selling eye care products.
Zhenshiming, a long-established eye care brand is owned by its parent company Zhejiang CONBA Pharmaceutical Co Ltd (SSE: 600572), a Chinese pharmaceutical company listed on Shanghai Stock Exchange (SSE). Early in mid-2019, ZSM has applied record filings for those two new CBD skincare products on the Chinese National Medical Products Administration (NMPA). According to ZSM’s recordation on NMPA, the CBD ingredient contained in both new products is cannabis sativa, indicating “hemp leaf extract.” on their product packaging.
Moreover, ZSM is not the only pharmaceutical brand that wants to get a share of the pie in mainland China. Watsons Personal Care Stores (Watsons) applied filings for its new CBD skincare product on NMPA in December 2019 as well. Based on its recordation, Watsons plans to launch a new facial mask containing cannabis sativa, the same ingredient as ZSM’s new CBD products’, though its launch time hasn’t been revealed yet.
On the other hand, some leading personal care brands have already launched CBD skincare products in the states, such as Kiehl’s cannabis sativa seed oil herbal concentrate and The Body Shop’s hemp hand protector. We’re looking forward to seeing more innovative products from those leading figures. There will be unlimited potential for legal CBD products in the Chinese market. Likewise, the possible competition will emerge by introducing more CBD skincare products to mainland China.