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L’Oreal takes minority stake in Chinese skincare brand Lan
The investment follows the group’s purchase of a 6.67% stake in Chando for $62m.
L’Oreal has acquired a minority stake in mass-market Chinese skincare brand Lan, marking its second investment in China in recent months.
The company did not disclose the size or cost of the stake, according to a Reuters report.
The investment follows the group’s purchase of a 6.67% stake in Chando for $62m (442m yuan), as disclosed in the Shanghai-based company’s Hong Kong IPO prospectus last month.
L’Oreal CEO Nicolas Hieronimus said the group’s China business grew around 3% in the third quarter, its first increase in two years.v
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