China Cosmetics Market Growth Essay
So far, foreign-funded enterprises still play a dominant role in China’s cosmetics market, accounting for roughly 86% of the total volume of retail sales. To cater to the demand of Chinese cosmetics consumers and improve their market share in the China, L’Oreal, Esteem Lauder, Procter & Gamble, Shied and other foreign companies have constantly adjusted brand strategies and intensified the building of channels. Meanwhile, Chinese domestic companies led by Jaw and Marabou are also stepping up the layout of cosmetics market. L’Oreal is the world’s largest cosmetics company.
In 2013 it recorded revenue of EURO. 288 billion in cosmetics business, a yr-on-yr rise of 2. 3%. In recent years, L’Oreal has constantly adjusted its brand strategy in China: re-introduction of Novel oral medical cosmetics which was withdrawn from China in early 2013; a full suspension of Grainier in China in 2014. As one of the world’s major cosmetics companies, Esteem Lauder is engaged in skin care and makeup. As of January 2015, it has 124 counters in 51 Chinese cities. Besides, it authorized T-mall, an e-commerce website, for the first time in May 2014 to develop China’s e-commerce channel market.
China Cosmetics Market Growth, Trends and Forecast Report, 2014-2017 By Merrill analysis,
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Meanwhile, Chinese domestic companies led by L’Oreal Is the world’s largest cosmetics company. In 2013 It recorded revenue of L’Oreal has constantly adjusted Its brand strategy In China: re-loincloth of Novel from China In early 2013; a full suspension of Grainier In China In 2014. As one of the worlds major cosmetics companies, Esteem Lauder is engaged in skin care and authorized T;mall, an e-commerce website, for the first time in May 2014 to develop HERBALIST, SGF and other priority brands. In early 201 5 it embarked on the Kingpin Base Removal Project worth a total of RMI . 55 billion, expected to be put into production in 2018; the new plant can undertake an estimated 130,000-ton configuration production and 600-million-piece filling production. As one of China’s leading cosmetics companies,