Eternal Beauty Holdings Limited (“Eternal Beauty” or the “Group”) (Stock Code: 6883.HK) announced that its self-owned retail brand, PERFUME BOX, opened four wholly owned, directly operated themed stores in Beijing, Shanghai, Shenzhen and Chengdu between April and May 2026. This latest expansion further strengthens the Group’s offline retail network under its self-operated channel strategy.

PERFUME BOX: Strategic Flagship of the Group’s Direct Retail

PERFUME BOX is the Group’s only multi-brand fragrance lifestyle retail chain. Since its establishment in 2016, it has expanded to nine wholly owned, directly operated stores in key cities across China. Leveraging the Group’s more than 40 years of experience in international fragrance brand management and its robust supply chain resources, PERFUME BOX has developed a vertically integrated model spanning upstream product curation, in-store consumer experience and data feedback.

Through its “one store, one theme” localization strategy and highly controlled direct retail model, the Group has achieved strong synergies across brand presentation, member engagement and precision marketing. PERFUME BOX has become a key pillar in Eternal Beauty’s evolution into a trusted “art of living brand partner”.

Direct Retail Model: High Control and Operational Efficiency

Under its wholly owned direct retail model, PERFUME BOX enables the Group to directly manage site selection, manpower allocation and marketing investment, while allowing real-time adjustments to operating strategies in response to market feedback. This approach significantly enhances operational autonomy and cost control at the retail end.

Vertically Integrated Value Chain: Extending from Brand Management to Retail Touchpoints

Ms. Lam King, Executive Director and Chief Executive Officer of Eternal Beauty, said, “The opening of four stores in rapid succession marks an important milestone as our offline direct retail strategy moves from planning to execution. We will continue to expand the PERFUME BOX store network in core cities through a self-operated model to further increase market penetration.”

Within the Group’s omnichannel strategy, directly operated offline stores are positioned as core brand experience touchpoints. By integrating online and offline customer databases and membership management systems, the Group enables unified customer profiling, cross-channel behaviour tracking and precision remarketing, thereby forming a synergistic closed loop of “offline experience, online repurchase and data-driven operations”.

PERFUME BOX represents a natural extension of the Group’s established brand management business. With over four decades of operating experience in China’s fragrance market and long-standing collaborations with multiple international brands, the Group connects upstream product selection, in-store merchandising and real-time consumer data into a complete value chain. Brand resources are continuously channelled to stores, while preference data collected in stores feeds back into ongoing assortment optimisation. This end-to-end model strengthens the Group’s overall capabilities in supply chain coordination and responsiveness to market trends.

New Stores Highlight: Localised Execution of International Brands

The four new stores are located at China World Mall in Beijing, Panlong Tiandi in Shanghai, Haiya Mega Mall in Shenzhen and Taikoo Li in Chengdu, all within premium commercial complexes or cultural and tourism landmarks in Tier 1 and emerging Tier 1 cities. Each location has been carefully selected to maximise exposure to high-potential consumer traffic.

PERFUME BOX’s core competitive advantage lies in its ability to embed international brands within China’s diverse market landscape. Rather than simple replication, each store is a tailored execution of the Group’s “one store, one theme” strategy. From spatial design and member engagement activities to product assortment and display, every element is customised to reflect local consumer aesthetics and lifestyle preferences.

Through its “global brands, locally interpreted” approach, PERFUME BOX transforms international fragrance offerings into lifestyle spaces that engage local consumers and foster emotional resonance.

Omnichannel Data Loop: Offline Experience Driving Precision Marketing

Under the Group’s omnichannel strategy, directly operated offline stores serve not only as sales channels, but also as core hubs for customer acquisition and data accumulation. By fully integrating customer databases and membership systems across offline stores and online channels, Eternal Beauty enables unified management of target customer groups, cross-channel behaviour tracking and precision remarketing.

This “offline experience, online repurchase, data-driven” model has underpinned the steady expansion of the PERFUME BOX membership base, which has reached approximately 750,000 members* across all channels. New offline member acquisition recorded significant growth during the financial year, underscoring the strong appeal of the in-store experience. Member repurchase levels remain stable and continue to contribute meaningfully to store sales. (*Data as at 31 March 2026)

The four directly operated stores are as follows: