The world's largest cosmetics company, L'Oreal. has announced it will stop selling Garnier-brand products in China
L'Oreal, which introduced skincare and hair dye maker Garnier to China in 2006, will focus on marketing the L'Oreal Paris and Maybelline brands there, Stephanie Carson Parker, a spokeswoman at the French company, told Bloomberg news.
While not materially significant given Garnier's underperformance in China relative to L'Oreal Paris and Maybelline, terminating the brand's activities there "reads negatively" and adds to concern about a slowdown in the country, a London based analyst told Bloomberg.
Some European and US beauty-product makers have struggled to gain market share in China, most notably Revlon.
Yesterday, L'Oreal said it had received the green light for its $843 million bid to acquire Hong Kong-listed facial care company Magic Holdings International.
© 2014 - European Supermarket Magazine by Enda Dowling
