The addition of a high-end homegrown C-beauty brand with a Gen Z following to its portfolio is precisely what L’Oréal needs to stay at the top of its game in the Asian market.
Although L’Oréal has been present in the Chinese market since 1997 and acquired several Chinese brands in that time, the purchase of a Documents stake marked Shanghai Meicifang’s first deal since it was established as the group’s China investment fund in May.
Documents has the advantage of its own retail presence, with plans to expand to between 30 and 40 stores in the next five years, according to Rooke. The store is unconventional, providing an immersive experience.
Thai mass market megabrand Cathy Doll is working towards premiumisation with new offerings in perfume and colour cosmetics.
Last year, the brand expanded into fragrances, with a range of eau de parfum and scent body lotions.
Karmart regional director of business development, Kat Wei, said the fragrance line was launched with the intention of capturing new consumers.
Singapore-based oral care brand Pearlie White set to focus on expanding into Central Asia after recently obtaining halal certification for its products and manufacturing facility.
Managing director and founder of Pearlie White, Andy Ong, said that the process was necessary for the company’s future growth.
Central Asia comprises countries including Kazakhstan, Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan. The region is home to a significant Muslim population.
India-based skin care brand Aminu’s Middle East expansion will focus on United Arab Emirates and Saudi Arabia as its two key markets.
It has already laid the groundwork in the Middle East and will be working to expand its presence there with the United Arab Emirates and Saudi Arabia as the key markets.
The company is excited to be contending against more established brands from the likes of Europe or the US, which Mohunta estimated cost at least three times more than Aminu.
Swiss skin care brand Evenswiss says Asia will be key to its future growth after enjoying initial success in Vietnam and China.
Over the last three years, the business in China has grown three to four times annually. The company’s success in China is fuelling its confidence to expand in the wider Asian region.
Evenswiss has already launched in Malaysia, Singapore, Taiwan and Vietnam. It is particularly interested in the South East Asian region, where it sees huge growth opportunities.