Following China's import tariff rate reduction, two international cosmetics brands L'Oreal and Estee Lauder announced that they will lower their product prices in the Chinese market.
L'Oreal published its financial report for 2012 in Shanghai, stating that its sales in China reached CNY12.05 billion in 2012, a year-on-year increase of 12.4%.
L'Oreal China has published its annual financial report for 2011 in Shanghai, stating that its sales in China were over CNY10 billion for the first time, reaching CNY10.7 billion and a year-on-year increase of 18%.
With the official operation of the new 96,000-square meter terminal building in Hangzhou Xiaoshan Airport, China Duty Free Group announced that its two high-end retail stores in the airport have been launched.
L'Oreal Group, one of the world's largest cosmetics companies, has announced plans to enter China's mass shampoo market.