Yue-Sai suitor?
This article was originally published in The Rose Sheet
Executive Summary
Procter & Gamble may be shopping for the Coty-owned Chinese cosmetics brand, "with an announcement possibly due by mid-January," according to report by Credit Suisse First Boston. "P&G...is believed to be aiming to grow through a combination of creating new brands in China, expanding its existing brands and acquisitions," the report says. P&G currently markets a number of brands in China, including SK-II prestige cosmetics. While the company declined to comment on a potential acquisition, P&G notes it is always interested in expanding its market share in the region. Yue-Sai, the number one prestige cosmetics brand in China, was founded in 1992 by Kan Yue-Sai, who sold a controlling stake to Coty in 1996. Yue-Sai is marketed in Asia and Europe, but the brand never reached the U.S., despite earlier indications from Coty it might launch stateside by 2002 (1"The Rose Sheet" Aug. 28, 2000, In Brief)...