Garnier to Withdraw from Chinese Market
L’Oréal has withdrawn its Garnier brand from the Chinese market as the cosmetics giant chooses to focus on other brands in its stable.
The firm will instead concentrate on its L’Oréal Paris and Maybelline New York ranges because both brands have been performing well in China on a consistent basis.
"To strengthen our leading position, we have decided to discontinue the sales of Garnier products in China and focus our efforts on our two leading brands - L'Oreal Paris, the number one beauty brand, and Maybelline New York, the number one make-up brand in China," a spokeswoman told Reuters.
China’s £15.7 billion cosmetics market is the third largest in the world, and it is expected to grow by 63 per cent over the five years to 2015, according to Euromonitor.