China's Ministry of Finance announced its plan to reduce import duties by half, on average, on imports ranging from cosmetics to fur garments by June 1, 2015. Aimed at promoting local consumption, the tariff cuts would include those on cosmetics, which will drop from 5 percent to 2 percent and diapers, from 7.5 percent to 2 percent. Data from market research firm Mintel showed 90 percent of Chinese consumers who traveled overseas in 2014 purchased personal-care products and cosmetics, 85 percent bought clothes and footwear, and 64 percent bought baby food or baby-care products.
"China to Cut Taxes on Some Imported Consumer Goods to Spur Spending", Wall Street Journal, May 25, 2015
Shiseido announced a three-year plan the company hopes will help it revive its business performance in China. In fiscal 2014, the company saw its Chinese unit post the sharpest sales decline among its international operations. For the fiscal year ending in March 2015, sales in China dropped 4.8 percent on fixed foreign exchange rate, and 2.9 percent in Japanese yen. For the period 2015‒2017, the company targets 9 percent in average sales growth, as part of its Vision 2020 medium- to long-term strategy.
"Shiseido seeks rebound in Chinese market", WantChinaTimes.com, May 11, 2015
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Cosmetics Design , May 28, 2015
Cosmetics Design Asia, May 27, 2015
Yahoo! News, May 26, 2015
Retail Analysis, April 21, 2015
The Globe And Mail, April 09, 2015
Wall Street Journal, April 03, 2015
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