How South Korean cosmetics are capturing China’s market? Sales of South Korean #cosmetics brands in China are beginning to outstrip those of their US and European counterparts. Latest figures from South Korean cosmetics giant AMOREPACIFIC estimate third-quarter sales at $1.09 billion, a 22% increase year-on-year. A large percentage of that rise can be attributed to Chinese buyers, with the company’s sales in #China rising 51% in the third quarter. In contrast, sales of brands from the US and Europe, which have generally been the preferred choice for Chinese customers, have been slowing down. For instance, according to Euromonitor International, while L’Oréal still accounts for 9.1% of China’s cosmetics market, which is far more than the 1.2% of AmorePacific, its sales in the Asia-Pacific region grew merely 3.4% in the third quarter.
Posted on: Sun, 23 Nov 2014 06:33:13 +0000
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