On April 1, the VAT reform of imports came into effect. This time LVMH Group is the first cosmetics giant to respond to the national tax reform.

Starting today (April 26), the retail prices of all products under the LVMH Group's brands, such as Jiaolan, Dior, Givenchy, MAKE UP for EVER and Fresh, have been lowered by between 2% and 5%.

Some consumers said, 'Hi-Tap-Ben, the original purchase of cosmetics can save a trip to Thailand money.'

It is understood that LVMH Group's five major brands of the price reduction, star items are listed. Guerlain's Royal Orchid Zhuo Neng Huan cream is 3800 yuan, the new price is 3680 yuan, and it has been reduced by 120 yuan. Fresh ancient source repair and nourishing honey mask reduced from 1350 yuan to 1315, and the price was reduced by 35 yuan. The original price is 550 yuan, and the new price is 535 yuan, down by 15 yuan.

Relevant sources revealed that the price reduction, online and offline synchronization, in response to the national tax reform policy. LVMH is also the first cosmetics giant to respond to the VAT cut.

It is reported that the Ministry of Finance, the State Administration of Taxation and the General Administration of Customs recently jointly issued the Announcement on the Policy of Deepening the Reform of VAT. According to relevant provisions, Haikou Customs has applied the 16% VAT tax rate to imported goods since April 1, 2019, and the tax rate has been adjusted to 13%, while the 10% VAT tax rate has been applied to imported goods, and the tax rate has been adjusted to 9%. This year, VAT will be reduced by more than 1 billion yuan for importing enterprises, which will further stimulate market vitality.

Yintai Group told Cosmetics Finance Online today that on the day LVMH Group began to implement the latest price on April 26, Yintai Department Store took the lead in implementing the new selling price. Customers can buy cosmetics products at the same price in physical stores and Miao Street APP.

Sun, a shopping guide at Yintai Hangzhou Wulin Store, speculated that she would usher in another busy and happy 'packing moment' tomorrow morning. 'Customers have been accustomed to lying in bed late at night and purchasing in the street. A reduction in the price of good goods will definitely encourage more customers to join this ranks.'

The above contents are all from the online slip reprint. If there is any infringement, please contact us to delete them.