L'Oreal SA has moved its chess pieces wisely. The French beauty company has aquired Magic Holdings, a Chinese skincare brand enterprise. It seems that L'Oreal SA has done the biggest investment in the Chinese beauty market which will further strengthen the Group's leadership position in the world's third largest beauty market.
"This is the most important acquisition for L'Oreal since the acquisition of Yves Saint Laurent Beaute in 2008. The MG brand beautifully completes the brand portfolio of our consumer products division in China: L'Oreal Paris, Maybelline New York and MG, the iconic Chinese brand. This acquisition marks the acceleration of our conquest of new consumers in China." appointed Jean-Paul AGON, L'Oreal's Chairman and CEO.