L'Oreal acquires another Chinese brand
29 January 2004
The world's largest cosmetics company, L'Oreal, signed an agreement to buy Yue-Sai, a make-up brand founded by Chinese-American TV celebrity Yue-Sai Kan in 1992.
In December L'Oreal bought top Chinese skincare brand Mininurse.
L'Oreal did not provide details on its deal to buy Yue-Sai from French fragrance-maker Coty, which bought the brand in 1996.
With a market that is growing by about 30 percent a year, China is now the world's eighth largest and Asia's second-biggest cosmetics market after Japan.