Cosmetics giants brush off any talk of slump in China (2)

A recently published report, Beauty and Personal Care in China 2012, by Euromonitor International Ltd, highlights how multinationals offer more brands and products across a range of categories and prices.

Estee Lauder, which sells 12 of its 28 cosmetic brands in China, is arguably making the biggest splash among those multinationals, by doing what many companies rarely attempt - introducing an entirely new brand.

Known for its Estee Lauder, Clinique and Bobby Brown brands, the company has introduced a new line called Osiao, which specifically caters to Chinese consumers.

Osiao was launched in Hong Kong in November and is expected to be launched in the mainland in early 2014.

"China has become the company's third-largest market following the United States and Britain with a turnover of $500 million in the 2012 fiscal year that ended June 30," said Fabrice Weber, president of Estee Lauder's Asia-Pacific division, in an interview with 21st Century Business Herald.

Apart from major cities such as Beijing, the company is focusing on high-end consumers in second- and third-tier cities.

Since 2002, when the company established a Shanghai office, Estee Lauder products have been sold in around 60 Chinese cities.

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