Coty in China
This article was originally published in The Rose Sheet
Executive Summary
Bringing Yue-Sai Chinese prestige cosmetics brand into global distribution this summer with joint venture partner, Coty Chairman and CEO Peter Harf told The Conference Board's "Strategic Alliances Conference" in New York City April 30. Coty entered into a joint venture with the leading Chinese cosmetics company, Yue-Sai Kan Cosmetics, in 1996, and broke ground on a Pudong, China-based manufacturing facility a year later ("The Rose Sheet" June 16, 1997, In Brief). The "new and innovative" introductions will be positioned to Asian women and will include skin toners, hair mascara and color- proof lipstick. The personal care market in China is "exploding," Harf noted. Between 1996 and 2001, annual fragrance sales are expected to increase 31%; makeup sales 26% and skin care, 20%. Established in 1994, Yue-Sai Kan has a 95% consumer recognition rate in China, where the brand is sold in over 600 department stores, according to Harf...