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Industry buzz

Following Revlon, Garnier pulls out of China

French group L’Oréal yesterday announced it would halt sale of Garnier brand in China in order to focus on the development of L’Oréal Paris and Maybelline, two other brands of its Consumer Products Division, which gathers cosmetic products that are distributed in mass retailing channels - hypermarkets, supermarkets, drugstores and traditional stores.

While the Chinese cosmetics market appears to be slowing (10% in 2013 compared to 15% in the previous year), L’Oréal says it wants to focus its resources on the most promising brands. With a market share of 17%, L’Oréal ranks number one in China, according to Euromonitor.

This decision follows the announcement, last week, by U.S. group Revlon that it was shutting down all operations in China. Revlon has taken this decision as part of a restructuring of its business.

© 2014 - Premium Beauty News -
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