Chinese beauty brands expand into global markets
Chinese cosmetics companies are expanding into international markets to counter slowing domestic sales. Major brands like Proya and Florasis are entering Western retail stores and opening overseas research centers to build global brand awareness.
Xurve View
Insights:
Xurve View
PROYA COSMETICS CO LTD-A is expanding its skincare lines into 400 United States stores operated by ULTA BEAUTY INC starting in November. The move comes as beauty firms in China seek new revenue streams abroad amid a domestic consumer spending slump. C-beauty brands captured 57.4% of China's $159 billion cosmetics market last year, overtaking international competitors.
