(Yicai Global) Jan. 14 -- French cosmetics giant L'Oreal has started selling Canadian CeraVe skincare products on China's mainland via an official Tmall store.
CeraVe is expected to cater to a wider range of consumers, especially those in third- and fourth-tier cities, online Jiemian News reported on Jan. 11, citing Sobiecka Ninell, the vice-president of L'Oreal Asia Pacific Active Cosmetics. Tmall is an e-commerce platform of Alibaba Group Holding.
Coria Laboratories, a unit of Bausch Health, developed CeraVe in 2005 to target consumers with dry skin. L'Oreal acquired three of Bausch Health's skincare brands, including CeraVe, for USD1.3 billion in January 2017. The Paris-based firm tested the brand in the Chinese market with online pop-up stores late last year.
In the first half of 2018, L'Oreal's active cosmetics division grew 11 percent from the previous year to EUR1.2 billion (USD1.4 billion), according to an earnings report. The department has the company's highest operating profit margin of 27 percent.
Editor: Emmi Laine