Mary Kay further invests in China
In a move which counters that of some of its retreating rivals, US beauty brand Mary Kay is looking to establish itself further in China with the purchase of an office building in Shanghai.
Mary Kay’s move suggests a confidence in the Chinese beauty market which its competitors lack, evidenced by L’Oreal’s withdrawal of its Garnier range, and the halt of Revlon’s activity in the country.
A spokeswoman for Mary Kay reportedly said it would be the company's first office building purchase in China, a market it entered in 1995.
The Point Jing’an office building, located in Shanghai’s central district Jing’an, is likely to cost the cosmetics brand up to $135 million.
While other beauty titans are struggling in the wake of the China’s redirected focus onto online rather than high street sales, Mary Kay’s purchase suggests the brand has confidence in the market.
![Indus Valley is working to corner 30% of India's online premium boxed hair colour market. [Indus Valley]](/var/wrbm_gb_food_pharma/storage/images/_aliases/wrbm_tiny/publications/cosmetics/cosmeticsdesign-asia.com/article/2024/07/26/indus-valley-aims-to-secure-30-of-india-s-online-premium-hair-colour-market-with-organic-offerings/17594932-5-eng-GB/Indus-Valley-aims-to-secure-30-of-India-s-online-premium-hair-colour-market-with-organic-offerings.jpg)
![[Getty Images]](/var/wrbm_gb_food_pharma/storage/images/_aliases/wrbm_tiny/publications/cosmetics/cosmeticsdesign-asia.com/china/china-focus-latest-developments-in-china-s-booming-beauty-market25/17606695-1-eng-GB/China-focus-Latest-developments-in-China-s-booming-beauty-market.jpg)
![Kosé has launched makeup brand Visée in Singapore as part of plans to reinforce its position in SEA. [Visée]](/var/wrbm_gb_food_pharma/storage/images/_aliases/wrbm_tiny/publications/cosmetics/cosmeticsdesign-asia.com/headlines/business-financial/visee-singapore-kose-aims-to-enhance-brand-visibility-in-sea-with-new-launch/17587264-1-eng-GB/Visee-Singapore-Kose-aims-to-enhance-brand-visibility-in-SEA-with-new-launch.jpg)
![ble C&C is set on reinforcing its competitiveness in China’s beauty market. [Missha]](/var/wrbm_gb_food_pharma/storage/images/_aliases/wrbm_tiny/publications/cosmetics/cosmeticsdesign-asia.com/headlines/business-financial/able-c-c-aims-to-strengthen-competitiveness-in-china-through-online-expansion-kol-collabs/17591626-1-eng-GB/Able-C-C-aims-to-strengthen-competitiveness-in-China-through-online-expansion-KOL-collabs.jpg)
![LG H&H genetic study says 23 genetic regions affect natural skin tone. [Getty Images]](/var/wrbm_gb_food_pharma/storage/images/_aliases/wrbm_tiny/publications/cosmetics/cosmeticsdesign-asia.com/article/2024/07/23/lg-h-h-discovery-of-genetic-skin-tone-factors-in-east-asians-potentially-key-to-skin-radiance-developments/17587210-1-eng-GB/LG-H-H-discovery-of-genetic-skin-tone-factors-in-East-Asians-potentially-key-to-skin-radiance-developments.jpg)
![DR.CI:LABO expects brand-supplier partnerships gain more public prominence as consumers interest in skin care grows online. [Dr.Ci:Labo]](/var/wrbm_gb_food_pharma/storage/images/_aliases/wrbm_tiny/publications/cosmetics/cosmeticsdesign-asia.com/article/2024/07/22/brand-supplier-partnerships-will-come-to-the-fore-amid-the-online-skin-care-landscape-dr.ci-labo/17576755-1-eng-GB/Brand-supplier-partnerships-will-come-to-the-fore-amid-the-online-skin-care-landscape-DR.CI-LABO.png)
