What’s new around cosmetics in China?
Nu Skin, a global cosmetics brand
Nu Skin is an US-based personal care and dietary supplements company. The company develops and sells more than 200 personal care products marketed as helping people look and feel younger. Under NuSkin there are the Nu Skin® personal care brand, the Pharmanex® nutrition brand, and most recently, the ageLOC® anti-aging brand.
The group operates in more than 50 international markets including in China.
Some difficulties last years in China
Last years, the company knew some drops in sales in China as they went down 15% year on year.
Globally the company revenue was down 13% to $471.8 million compared with $543.3 in the first quarter of 2015.
$210 million invested to revive the brand
In order to revitalise the brand in China, Nu Skin announced that they will benefit of USD $210 million from two domestic Chinese firm: Ping An ZQ Capital and ZQ Capital.
Ping An is one of China’s largest and leading integrated financial services groups whereas ZQ Capital is an investment and advisory company with extensive relationships and local knowledge of China.
These two companies will help Nu Skin to realize its growth potential in the Chinese market bringing it a local market knowledge and expertise.
Thanks to this investment Nu Skin will benefit from long-term growth opportunities. They will be able to purchase common stock and invest in the company’s China operations.
New Management for a new vision in China
Nu Skin also changed in leadership designating Charlene Chiang as the President for Nu Skin’s Greater China region.
With her, the brand will have a new face and strategy in China and the will find a new path to make business and increase its previous sales.
To begin, the US-based cosmetics company has planned to launch its famous ageLOC anti-aging range in China.
— Linda Hauer (@HauerLinda) 4 juillet 2016
— Ecommerce-china (@ecommerce4china) 25 juin 2016