L'Oreal halts sale of Garnier brand in China
PARIS (AFP) - French cosmetics group L'Oreal said on Wednesday it was halting the sale of its Garnier brand in China, the latest Western company to get cold feet over a chill in luxury sales.
In order to reinforce its leading position on the Chinese cosmetics market "...the decision was taken to halt the commercialisation of the Garnier brand in China," the company said in an email to AFP.
L'Oreal said it would now focus on its L'Oreal Paris and Maybelline New York mass market brands in China, which have been enjoyed better sales there than Garnier.
The Garnier brand accounted for only slightly more than 1.0 per cent of the 1.5 billion euros (S$2.6 billion) in sales that the L'Oreal group recorded in China in 2012, which made the French company the top player on the Chinese market with a 17-per cent share.