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China's Cosmetics Market Slows Down, Report Says

October 15, 2013: 12:00 AM EST
The growth of the cosmetics industry in China slowed down, with gross retail sales reaching $21.94 billion, according to the report “China Cosmetics Industry Report, 2013–2016,” by search engine Reportlinker.com. In contrast, the cosmetics market in the country saw faster growth rates in the start of the century, with sales of beauty and personal care reaching $24 billion in 2010, according to a report published in the July 2013 issue of the “Cosmoprof-Asia” magazine. At present, foreign brands dominate with local cosmetics market, with the top 3 —L’Oréal, Olay and Mary Kay —together accounting for 12.45 percent of retail sales, according to the Reportlinker.com report.
Caroline Berg , "Holding a mirror to China's economy through cosmetics", China Daily, October 15, 2013, © China Daily Information Co (CDIC)
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