China's hair-care market powers ahead
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In 2010, Unilever Group agreed to acquire Alberto Culver, the world's sixth largest hair-care manufacturer, for $3.7 billion, which is expected to boost the company's presence in the hair-care market, globally as well as in China.
In 2007, Beiersdorf paid 269.45 million euros ($354.5 million) for an 85 percent stake in China-based C-Bons Hair Care as the cosmetics giant looked to penetrate deeper into the fast-growing market.
Euromonitor International said that countries such as China, where premium product penetration is low, will see the premium products outperforming cheaper rivals even during the economic downturn.
Chen of P&G emphasized that the high-end market is definitely important in future development.
P&G's Vidal Sassoon has been one of the most important members in the company's high-end category. L'Oreal SA, the world's largest cosmetics company by volume, launched L'Oreal Paris Absolute Repair in 2009. This is regarded as another representative in China's high-end hair-care market.
Japan-based personal care giant Shiseido announced early last year that it is planning to step up the distribution of its two core professional hair brands - Shiseido Professional and Joico - throughout China, focusing on the luxury professional hair-care market.
The company will be initially targeting 700 leading luxury salons in Shanghai and Beijing.
The market for professional hair-care in China was estimated at $13.2 billion in 2007, while the luxury professional hair-care market is currently estimated to be worth 50 billion yuan with an annual increase of 10 percent, according to Shiseido.
Career success
Sam McKnight, the world-renowned stylist, said: "Healthy looking hair is the basis for creating beautiful and stylish looks."
Chinese people have been told since an early age that they shouldn't judge people by their appearance. However, that has proved easier to say than to do.
About 68 percent of Chinese consumers agree that spending time and money on their personal appearance is an important aspect of someone's sense of well-being, according to a report by international consulting firm TNS.
Judy Zhu, a manager specialized in the high-technology sector at Career International Consulting Ltd, a leading Chinese integrated recruitment provider, said: "Appearance accounts for 20 to 30 percent of your total performance when you are going through a job interview. It is not the most significant part, but when all candidates are comparable in terms of ability, good looks seem to become a key decider."
Showline Chang, a renowned psychologist and best-selling author, said: "Having clean nails, well-cut hair or decent clothes at least indicate that you are a person who is responsible, competent and reliable, as well as full of affinity. Professionalism is actually composed of such details."
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