China's High-end Cosmetics Market ---L'Oreal's Case Analysis

With the rise of the affluent young Chinese middle class and their increasing demands for high quality products, consumers in China have shown greater interest in high-end cosmetics products. According to statistics, in 2013 one third of the global luxury product sold were purchased by the Chinese and it is estimated that by 2020, 40% growth of the global high-end cosmetics market will be contributed by Chinese consumers.