L’Oréal has taken a minority stake in the Chinese mass-market skin care brand Lan, marking the beauty giant’s second investment in a Chinese beauty company in recent weeks. The move underscores L’Oréal’s heightened focus on China as international brands are losing ground to fast-growing domestic players. “We firmly believe investing in China is investing in the future, and we will continue to cultivate the Chinese market, work with more Chinese brands to create a beautiful future, and meet the expectations of sophisticated Chinese consumers,” says Vincent Boinay, president of L’Oréal North Asia and CEO of L’Oréal China.
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