Date
17 December 2017

L’Oreal to sell new products after China acquisition, WSJ says

French cosmetics maker L’Oréal SA is gearing up to sell new products after acquiring China’s Magic Holdings International last week in a deal worth about US$883 million, the Wall Street Journal reported Monday.

Magic Holdings, which owns the MG brand of beauty products, offers 167 different kinds of paper-peel and mud masks across China, ranging from chamomile allergy-relieving to red wine complex whitening.

L’Oréal will first look to expand MG masks in the brand’s home market, where the French company is refocusing after pulling its mass-market Garnier beauty-products brand amid intense competition, the Journal said.

 

– Contact HKEJ at [email protected]

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