Atour Group's revenue in the third quarter was 3.429 billion yuan, and its hotel business developed steadily; L'Oreal launched five major results at the CIIE; Uniqlo focused on sustainable development at the CIIE | Consumer Research Institute Weekly Report

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Atour Group's revenue in the third quarter was 3.429 billion yuan, and its hotel business developed steadily; L'Oreal launched five major results at the CIIE; Uniqlo focused on sustainable development at the CIIE | Consumer Research Institute Weekly Report

Consumer Research Institute trendmakers

2026.11.10 21:28

· From Beijing

Full text 7538 words

Consumption dynamics

Atour Group's revenue in the third quarter was 3.429 billion yuan: the hotel business developed steadily and the retail deep sleep ecology continued to deepen.

On November 10, Atour Group announced its third quarter financial report for 2026. This quarter, the company achieved revenue of 3.429 billion yuan (RMB, the same below), a year-on-year increase of 30.5%; adjusted net profit was 615 million yuan, a year-on-year increase of 26.2%; adjusted EBITDA was 883 million yuan, a year-on-year increase of 28.8%. At the same time, the group raised its full-year revenue guidance for 2026 to a year-on-year growth of 33% to 35%. The group simultaneously announced its second dividend plan this year. As of now, the cumulative return to shareholders in 2026 has exceeded US$260 million. In terms of accommodation business, operating performance in the third quarter was solid. The group's average revenue per available room (RevPAR) was 373.0 yuan, reaching 100.5% of the same period last year. Adhering to the principle of "quality first", the Group opened 128 new hotels in the third quarter; as of the end of the third quarter, the Group had a total of 2,288 hotels in operation. During the same period, it had 778 pipeline projects in reserve, laying a good foundation for the sustainable development of the hotel network. In the third quarter, the central reservation channel (CRS) accounted for 61.5% of room nights sold, of which enterprise agreement sales accounted for 20.7%.

The retail business continued its strong growth trend. In the third quarter, retail revenue reached 1.362 billion yuan, a year-on-year increase of 61.0%. A number of iterative new products in the sleep category showed good growth momentum. In terms of core categories, the pillow category maintains its leading advantage, and the cumulative sales of the Deep Sleep Pillow Pro series exceeded 13 million units; the revenue of the quilt category in the third quarter increased by more than 70% year-on-year, and the Deep Sleep Temperature Control Quilt Pro3.0 series continues to verify the category growth potential with matrix products; in strategic categories, the sales of Deep Sleep Pajamas 2.0 and Deep Sleep Fitted Sheets 2.0 achieved breakthroughs, further enriching the sleep ecology. As of the end of the third quarter, the number of registered members of Atour exceeded 124 million. Atour will also continue to ensure member experience, improve differentiated member rights and services, deepen the synergy between the two major businesses of accommodation and retail, promote the continuous release of synergy effects, and steadily increase long-term value.

L'Oréal's first five major achievements at the China International Import Expo

On November 6, L'Oréal made its appearance at the CIIE for the ninth consecutive year with the theme of "The Beauty Odyssey", and unveiled its dual booths in the consumer goods exhibition area and the French Pavilion. At this CIIE, L'Oréal brought five major achievements to the premiere: "Wheat Color Filter 400" sunscreen and its related product La Roche-Posay "Big Brother Sunscreen" were simultaneously approved; it joined hands with Shanghai Dermatology Hospital to establish a "Skin Barrier Innovation and Transformation Joint Laboratory"; invested in China's innovative AI native Biomaterials R&D and application company PAM2L; with the support of the Fragrance and Cosmetics Association, joined hands with the China Council for the Promotion of International Trade Research Institute to launch the "Research Report on the Social and Economic Value of China's Beauty Industry"; the Beauty Technology Hackathon signed a memorandum of cooperation with Daning Group in Jing'an District.

L'Oréal's BIG BANG beauty technology co-creation plan ushered in an important node in the annual results presentation at this CIIE. At the awards ceremony, more than 20 winning companies from North Asia took turns on the stage. As the winners were announced one by one, it became clearer that the four major tracks of “anticipating new production and research,” “leading new operations,” “playing with beauty, new experiences,” and “creating sustainable change” have their own focuses and are synergistically intertwined. With the support of the group's strategic innovation venture capital fund BOLD, Shanghai Meicifang Investment Co., Ltd. will invest in one of the 2024 BIG BANG winning companies - PAM2L. The two parties will jointly develop innovative bioactive ingredients and promote their application in the field of beauty. In the second round of the L'Oréal Sustainable Innovation Accelerator "L'AcceleratOR", two winning companies, selected for the first time on behalf of Chinese companies, also demonstrated the innovative practice and application of AI and sustainable technology in the entire industrial chain through on-site roadshows, demonstrating L'Oréal's vision of joining hands with industry partners to create a win-win situation.

IKEA debuts at the 9th China International Import Expo and releases “light customization” solutions

During the 9th China International Import Expo, IKEA China held a booth opening ceremony and media conference with the theme of "Same Big, Big Different", released "light customization" solutions, and brought a number of global and Chinese first-ever new products to respond to Chinese families' new needs for improved living quality and home renewal. It is understood that IKEA will debut its "lightly customized" home furnishing solutions at this CIIE. Through modular products, flexible combinations and professional design services, "light customization" takes into account the characteristics of personal adaptation, flexible adjustment, quick check-in and budget control, providing consumers with more convenient and efficient home renovation options. A number of global and China-first new products were unveiled. Based on the value Chinese families place on New Year reunions, IKEA continues to convey the beautiful meaning of the New Year through home design. The world's premiere FÖSSTA Year of the Sheep Chinese New Year series uses Nordic design language to interpret the art of traditional Chinese woodblock New Year paintings, and integrates the beautiful meaning of "Three Sheep Kaitai" into household products such as ingot dinner plates, Year of the Sheep themed cushions, etc., adding a strong New Year flavor to the Spring Festival reunion. In addition to the Chinese New Year series, there are also SAXVALLEN electric sofas, MARSÄTTRA upholstered beds and DOFTYXNE mattresses suitable for the elderly. At the same time, IKEA continues to pay attention to children's growth and family sharing space experience. The ALPTALL series, combined with the TROFAST modular storage solution, integrates play, storage and natural exploration, allowing children to have a freer and more creative space for growth.

Bubble Mart debuts at the CIIE with dual booths for the first time

This year, Bubble Mart debuted at the CIIE with two booths for the first time: the China Pavilion of the National Exhibition concentrated on presenting artistic works that integrate intangible cultural heritage skills and Bubble Mart’s trendy IP, and the consumer goods exhibition area of the Enterprise Exhibition focused on displaying the group’s rich and diverse sustainable development achievements for the first time. On the morning of November 6, Bubble Mart held a release ceremony for its sustainable development vision and ESG action plan at the China International Import Expo. With the vision of "Wherever IP goes, let good things happen sustainably", the group will use IP to connect creativity and responsibility, integrate the concept of sustainable development into products, operations and cooperation, so that good things can continue to happen in the longer-term future and the wider world. This is the first time that Bubble Mart has released its sustainable development vision and ESG action plan. This year, Bubble Mart entered the China Pavilion of the National Exhibition for the first time. The exhibition area was designed around the characteristics of intangible cultural heritage. A number of works that combined intangible cultural heritage and trendy IP were on display, allowing traditional culture and contemporary art to have a dialogue in the same scene. During the exhibition, Liu Zhongping, the municipal representative inheritor of the national intangible cultural heritage Foshan Woodblock New Year Paintings and the heroine of the 2024 China Intangible Cultural Heritage Annual Character New Year Paintings, made a surprise appearance, explaining the traditional techniques of woodblock New Year paintings such as "filling with red pills and painting with gold and silver powder", and led the audience to experience printing. Bubble Mart combines 12 IP images into four "福" characters and presents them with engraving and gold printing technology, allowing the audience to experience the artistic characteristics of traditional New Year pictures through hands-on experience.

Uniqlo appears at the 9th China International Import Expo and holds a sustainable development forum

UNIQLO held a sustainable development theme forum at the 9th China International Import Expo to discuss with all sectors of society how companies, public welfare organizations and partners can work together to build a sustainable future. Yasuji Yanai, Director of the Board of Directors of Fast Retailing Group and Senior Executive Director of Fast Retailing Group, attended the forum and said: "UNIQLO has received support from many consumers since it entered the Chinese market 24 years ago. In the next three years, UNIQLO plans to donate more than 23 million yuan in funds and clothing in China every year, and carry out social contribution activities that are expected to benefit more than 3.5 million people, hoping to bring some practical help to the daily lives of more people."

Fast Retailing Group has proposed that by fiscal year 2030, about 50% of its fabrics will be replaced with recycled fabrics and other low greenhouse gas emission fabrics. At the same time, Fast Retailing Group is making steady progress in greenhouse gas emission reduction and renewable energy conversion. In China, UNIQLO is working with many local supply chain partners to jointly promote greenhouse gas emission reduction actions. Chenfeng Group has promoted solar power generation to all seven of its factories, and Toray Jiuyi Dyeing (Nantong) Co., Ltd. has switched from coal-fired steam to biomass steam. The global charity project PEACE FOR ALL "Love" T-shirt series has also opened a new chapter in China. Starting from September this year, all sales profits of this series in the Chinese mainland market will be donated to local Chinese charity organizations, transforming consumers' choice of a T-shirt into the power to participate in local social actions. RE.UNIQLO is a recycling project launched by UNIQLO in 2020. Starting from August 21, the clothing recycling service will be extended to all UNIQLO stores in mainland China.

Kering Group debuts at the 9th China International Import Expo

Kering Group will present all its brands at the 9th China International Import Expo. This year's Kering Group Exhibition Hall has the theme of "Opening things to the true, making journeys to the future", focusing on the craftsmanship, exquisite creativity and the latest initiatives of the group. This exhibition aims to interpret the group's strategic vision of "True Luxury, Next Luxury", demonstrate its firm commitment to excellent quality, cultural heritage and sustainable development, as well as its forward-looking insights into the future of the boutique industry. As a unique high-end jewelry brand from China under the Kering Group, Qeelin officially launched its new gold brand Qeelin GOLD at the Kering Pavilion of the China International Import Expo on November 6. It reinterprets gold jewelry from a contemporary perspective and simultaneously released Qeelin GOLD's first series BAJING, opening a new chapter in the brand story with gold. In addition, Kering Eyewear brings the world's first and debut products, including the LINDBERG titanium Year of the Sheep limited series, and Maui Jim's functional polarized sunglasses Suntrail specially designed for outdoor sports scenes. Ginori 1735 created an exclusive series "Exploring Ginori Porcelain Blue" specifically for this CIIE, paying tribute to the classic blue color of Chinese porcelain.

LESS and Tianmuli jointly launched the first "LADY LESS FESTIVAL Cultural Festival"

From November 4th to November 8th, LESS and Tianmuli jointly launched the first "LADY LESS FESTIVAL Cultural Festival", with the theme of "Less, More", bringing cultural contents such as reading, drama, video and dialogue into public space, with the intention of building an open and diverse female cultural scene. 7 modules and 24 activities, from book pages to stage, from individual expression to group resonance, creators and participants from different fields meet here to jointly explore the rich and free spiritual world of contemporary women. On November 6, the opening dialogue brought together actress Mei Ting, director Zhang Mo, writer and translator Dong Lai, writer and translator Zhou Jianing, curator and writer Zhu Yujie, and fashion writer Xu Zishen. Six women from different fields and life stages started a women's dialogue based on their respective creative experiences and life observations. This cultural festival simultaneously opens the International Theater and Video Exhibition. From November 4th to 8th, seven classic stage works will be launched in Muli Space one after another, connecting literature and theater with high-definition dramatic images, allowing female stories from different regions, times and cultural backgrounds to intersect here.

Dr.Jart + Di Jiating new products unveiled at CIIE

During the 9th China International Import Expo, Dr. Jart+, a brand of the Estee Lauder Group, appeared at the CIIE booth with its new 324 Intensive Repair Color Pill Mask, bringing new aspects of professional skin care to the group's "new product show". In response to the skin repair needs after minimally invasive projects such as gold microneedle, Dr. Jart + Di Jiating proposed the "Repair 2.0 Hierarchical Steady Repair Concept", applying innovative technology to home care scenarios after projects, and responding to consumers' diverse and refined skin repair needs with more targeted product solutions. The new 324 Intensive Color Pill Mask uses "3-layer quick repair and deep repair" as the product path to help repair the skin barrier, relieve redness and discomfort, and improve skin elasticity and firmness. The product combines the innovative technology of recombinant PDRN and silk fibroin microspheres to provide a multi-level repair experience for different skin conditions from the acute sensitive period to the later recovery period after the gold microneedle project. Among them, silk fibroin microspheres rely on local patented nano-microsphere technology to further apply local innovative technology to professional repair products, bringing new technological support to skin repair after the project. The silk fibroin microsphere technology unveiled at the CIIE as a new product this time has become a major innovation in the product. Relying on local patented nano-microsphere technology, silk fibroin microspheres help the production of elastin and support barrier structure repair. By further applying local innovative technology to professional repair products, Dr. Jart + Di Jiating continues to explore more possibilities of combining innovative technology with specific consumer needs.

M·A·C debuted at the CIIE with its world premiere new products

M·A·C debuted at the 9th China International Import Expo with a matrix of world-first new products and star products. From the global premiere of the new M·A·C "Roll King" powder powder specially developed and customized for the needs of Chinese consumers, to the new "Diamond Sparkle" holiday limited series that showcases pioneering creativity, to the VIVA GLAM charity project that continues to convey the power of charity, M·A·C can present the diverse values of professional makeup through professional innovation, personal expression and social care, demonstrating the brand's long-term focus and commitment to the Chinese market. Specifically, the launch of the new M·A·C "Roll King" powder is another result of M·A·C relying on the global R&D resources of the Estée Lauder Group to continue to promote localized innovation. The professional strength of "one plate is better than three plates" responds to consumers' multiple needs for clear skin color, long-lasting makeup effect and light skin feel. M·A·C's new "Night Diamond Sparkle" holiday limited series, which was simultaneously unveiled at the CIIE, takes the sparkle of star diamonds as the visual core and presents the bright inspiration of holiday makeup through the colors and textures of different products, allowing consumers to freely express their individual attitudes in different occasions and makeup styles. While continuing to promote professional makeup innovation and diverse expressions, M·A·C also integrates social responsibility into the long-term development of the brand. Through VIVA GLAM charity projects, the power of beauty extends from individual expression to social care.

Guangyin Technology’s portable myophotometer was unveiled at the CIIE

On November 6, at the 9th China International Import Expo, Guangyin Technology, which has laid out businesses related to optical sensing, optical interconnection and optical computing, launched a portable myophotometer at the L'Oreal booth. This product uses near-infrared spectrum sensing technology to non-invasively detect skin collagen density, elasticity, moisture, oil and other indicators, providing a reference for personalized skin care. Guangyin Technology was also selected as the winning company of L'Oréal BIG BANG 2026 Beauty Technology Co-creation Program. Traditional near-infrared spectrometers are large, costly, and difficult to integrate. Skin collagen detection mostly relies on desktop ultrasound equipment. Guangyin Technology aims at the pain points of the industry and innovatively proposes for the first time all-optical non-destructive testing of skin collagen using near-infrared spectrum, and develops a portable myophotometer. This capability comes from innovations in the underlying architecture of the spectrometer. The joint team of Guangyin Technology and the University of Cambridge adopted an optical convolution spectrometer solution based on the convolution theorem. The results were published in "Nature Photonics" in April 2026. At present, this spectroscopic solution can also be extended to industrial detection, consumer electronics and smart wear. Guangyin Technology was founded in 2021 and was led by scientists from the University of Cambridge. It has recently completed a Pre-A++ round of financing of nearly 100 million yuan. Investors include Dachen Finance and Huarui Investment.

UNDER ARMOUR Under Armor’s fiscal year 2027 Q2 quarter revenue is US$1.2 billion

On November 6, Under Armor released its second quarter results for fiscal year 2027. The company's revenue for the quarter was US$1.2 billion, down 7% year-on-year, basically in line with previous expectations; adjusted operating profit was US$25 million, higher than the company's previous outlook. Under the background that consumer demand is still under pressure and business reshaping continues to advance, Under Armor continues to improve the quality of operations by strengthening cost management, improving supply chain efficiency and optimizing product portfolio. The gross profit margin for this quarter was 47.0%, a slight decrease of 30 basis points year-on-year. From a regional perspective, revenue in the Asia-Pacific region, where the Chinese market is located, fell 9% year-on-year in the second quarter. However, compared with the first quarter, revenue in the second quarter increased by approximately 7.1% quarter-on-quarter, showing a certain quarterly improvement. Overall, although the company's revenue is still in the adjustment stage, revenue is in line with expectations, adjusted operating profit is better than the outlook, gross profit margin remains relatively stable, and operating efficiency continues to improve, indicating that Under Armour's business reshaping is progressing steadily.

The Royal 2026 “Take Pets to the Hospital” project comes to an end

Recently, the Royal 2026 "Take Pets to the Hospital" project came to an end. The love for furry children is not only accompanying them day and night, but also actively protecting them every time. Since its launch in 2018, the Royal "Take Pets to the Hospital" project has been doing one thing for nine years: calling on pet owners to take their pets for regular physical examinations every year, so that the awareness of "prevention is better than cure" becomes a habit throughout the entire life cycle of pets. So far, the project has covered more than 600 hospitals and benefited approximately 200,000 pet owners. From 2015 to 2018, China ushered in the peak of pet ownership, and dogs and cats entered households at an accelerated pace. However, pet health management is still in its infancy. Lack of scientific understanding, inconvenience of taking pets to medical treatment, limited access to high-quality hospitals, lack of communication and trust between pet owners and veterinarians, and multiple obstacles stand between pet owners and professional medical care. Because of these pain points, in the past nine years, the project has continued to deepen along three paths: popularizing scientific understanding, connecting professional ecology, lowering the threshold for action, and continuously shortening the distance from "knowing" to "doing" pet physical examinations.

Pigeon brings global maternal and infant products and innovations to CIIE

Attending CIIE for four consecutive years, Pigeon made its appearance with the theme of "New Life, Unbounded Joy", focusing on maternal and infant products and scientific research and innovation results from around the world, as well as Pigeon's latest practices in the fields of R&D innovation, intelligent manufacturing and sustainable development in China. At this CIIE, the Jiyangnafu newborn baby bottle gift box inspired by traditional Chinese zodiac culture made its debut. Pigeon integrates Chinese families' best wishes for the healthy growth of new life into product design, adding unique commemorative significance to welcoming new life in addition to scientific feeding. At the same time, Lansinoh, an international maternity and breastfeeding professional brand under Pigeon Group, also made its debut at the CIIE, further extending Pigeon Group's professional protection from babies to mothers, providing more complete and diversified support to families during pregnancy, childbirth and lactation. At this CIIE, the Shanghai Climate Week 2026 Climate Lighthouse White Paper was officially released, and the "Green Manufacturing Project" of Pigeon Shanghai Qingpu Factory was successfully selected as a model case. The project promotes the collaborative improvement of product quality, manufacturing efficiency and environmental performance through a series of practices such as clean energy application, production automation, energy efficiency improvement and green product development, reflecting Pigeon's long-term exploration of truly integrating green and low carbon into production methods.

Tmall Double 11 soft-shell clothing grew by over 130% year-on-year, shifting from selling goods to service experience

Professional outdoor brands are becoming the choice for daily wear. According to data released by Tmall Sports Outdoor, during this year’s Double 11 period, soft shell clothing increased by over 130% year-on-year, outdoor casual clothing increased by over 70% year-on-year, outdoor casual shoes increased by over 50% year-on-year, and cross-country running shoes increased by over 90% year-on-year. Among them, Helly Hansen’s cumulative transaction volume exceeded 100 million (a year-on-year increase of over 100%), Mammut’s year-on-year growth was over 100%, Himalaya’s year-on-year growth was over 450%, Dahang’s year-on-year growth was over 280%, and Kailas Fuga’s year-on-year growth was over 170%. In this regard, Gu Di, general manager of Tmall Sports and Outdoor Industry, analyzed that on the one hand, the unit price of customers is still rising at a high speed, on the other hand, joint purchases are very strong, and there are also cyclical purchases. Especially for sports such as badminton, tennis, pickleball, and cross-country, consumers will repeatedly go to the platform to choose equipment and accessories.

Trendy new products

lululemon launches light-sensitive road running series

lululemon launches a new light-sensitive road running series, renewing classic running equipment with reflective details, inviting runners to start running at any time, no matter morning or night, to let their energy shine. The new light-sensitive road running series covers men's and women's clothing such as jackets, half-zip shirts, vests, shorts, etc., as well as rich accessories such as sports hats and running vests to meet the needs of runners for all-day running. As the daylight gets shorter in autumn and winter, this series incorporates reflective details into functional fabrics to improve visibility in low-light environments, allowing runners to enjoy every step without stopping due to changes in the weather.

Burton x FRAGMENT new joint series returns

Burton announced the launch of a new joint series with Hiroshi Fujiwara's FRAGMENT. This collaboration deeply integrates Burton's ski genes with Hiroshi Fujiwara's iconic minimalist street aesthetics. It is understood that this joint series includes Burton Family Tree Branch Manager veneers, STEP ON® Genesis EST® bindings, Burton [ak]® Acamar jackets and overalls, [ak]® Helium vests and other technical outerwear, as well as Anon Oslo WaveCel® ski helmets and Anon M4 snow goggles and other accessories. The entire series is run through the visual theme of "invisibility", taking into account professional performance and urban minimalist style.

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