Date
20 August 2017

L’Oreal’s Garnier brand to exit China market, report says

French cosmetics giant L’Oreal S.A. said on Tuesday that it has decided to let its cosmetics brand Garnier exit the China market as the group focuses on more important product lines, Tencent Finance portal reported the same day. The group saw its sales in China, which is its third-largest market in the world, rise 12.4 percent in 2012 to 12.05 billion yuan (US$1.99 billion), but sales from Garnier accounted for less than 10 percent. US cosmetics maker Revlon Inc. also announced earlier this month that it will cease operations in China, the report said.

– Contact HKEJ [email protected]

TL/AC/RC

 

EJI Weekly Newsletter

Please click here to unsubscribe