L'Oreal ends Garnier sales in slowing China market
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E-mail China.org.cn, January 8, 2014
Cosmetics giant L'Oreal Group has announced to discontinue the sales of Garnier beauty products in China yesterday.
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L'oreal cosmetic and beauty products sold in China. [File photo] |
The group said the halt was a "difficult decision" and they will focus on their two leading brands - L'Oreal Paris, the number one beauty brand, and Maybelline New York, the number one make-up brand in China, according to a statement of L'Oreal cited by Reuters. Those brands have been performing more strongly in China.
Garnier's sales only accounted for less than 10 percent of the group's total sales in the country, and it’s a non-mainstream brand in the group, said in the statement.
The firm will set up a special team to deal with the following issues, especially about the employment of the staff.
U.S. rival Revlon Inc pulled out completely from China’s market just a week ago, due to sales of its cosmetics have been falling.
China's $25.9 billion (15.7 billion pounds) cosmetics market is the third biggest in the world. It is expected to grow 63 percent for the five years to 2015, according to Reuters.
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