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The Business of Beauty
With salaries rising, beauty has become a serious business in China. Beijing's streets are now filled with salons, once-banned beauty pageants are proliferating and cosmetic surgery is developing a cult following.

Background

·Cosmetic Industry Embarks on Reshuffle
Mini-nurse, a popular Chinese cosmetic brand made in Shenzhen, a boomtown in south China's Guangdong Province, was taken over by L'Oreal Group, one of the world's largest beauty products firms, which is based in Paris, France.

·Beauty Sector Benefits Chinese Economy

Within 21 years, from 1983 to 2004, the sales volume of China's beauty businesses has increased 260 times.

·Brand Analysis for China’s Cosmetics Industry
Mininurse deal has signified a start of large-scale merger and acquisition between local cosmetic companies and their foreign counterparts. What the Chinese enterprises should learn from the deal and what strategies can they take?

Beauty is one of china’s fastest-growing industries. And for cosmetics companies, china is the world’s most exciting new market as well as the 8^th largest.

v EUCC on China's Cosmetics
Valued at more than RMB 42 million and growing at an annual rate of around 25 percent, China's cosmetics sector is booming.

v Foreign Trade on Cosmetics
China has reduced its average tariff on cosmetics from the current average of 23.5 percent to 10.7 percent on most categories. Tariffs on priority exports will be further cut to 6.5 percent by 2008.

v Cosmetics and Toiletries under CEPA
Hong Kong is an important entrepot for regional trading of cosmetic products, especially for re-exports to Vietnam and China. As China enters WTO, import duties on cosmetics will ease further.

Quote

"Nowadays Chinese customers are very discerning. They will spend money on the products that best fit their skin."--L'Oreal China President Paolo Gasparrini

Real Life