Breaking News

L’Oréal Sees Magic in China’s Magic Holdings

September 4, 2013

CHINA: L’Oréal and Magic Holdings International Limited have issued a “joint announcement” regarding L’Oréal’s proposal to acquire all of the shares of Magic Holdings International. The proposed price is 6,30 HK dollars per share, according to the companies. 

L’Oréal’s proposal is supported by Magic’s board of directors, the companies announced in August. Six key shareholders, representing 62% of the company’s equity, are already committed to supporting L’Oréal’s proposal, according to the Paris-based beauty giant. 

The implementation of the transaction is subject to the approval of the Ministry of Commerce of the People’s Republic of China (MOFCOM). 

A specialist in cosmetic facial masks and a publicly-traded firm, Magic’s turnover in 2012 was approximately €150 million, up some 29% over 2011. Magic’s MG brand is one of China’s leading brands in the mask category. 

L’Oréal intends to develop this Chinese brand by contributing its science based expertise and using its advanced and applied research in its China Research & Innovation Center and across the world. L’Oréal contends the MG brand will deliver benefits to Chinese consumers by beautifully complementing L’Oréal’s Consumer Products Division existing portfolio of brands in China.  
blog comments powered by Disqus
  • What’s New at La Prairie?

    What’s New at La Prairie?

    Melissa Meisel, Associate Editor||April 25, 2016
    VP of marketing shares the latest buzz with Happi.

  • Mapping Out Multicultural Beauty

    Mapping Out Multicultural Beauty

    April 25, 2016
    Agnieszka Saintemarie of Kline Group about current trends and challenges in multicultural beauty.

  • At a Loss for Curls?

    April 22, 2016
    Amplixin, a Miami-based maker of hair strengthening products, has a solution for hair loss.

  • Who Makes That?

    Who Makes That?

    Tom Branna, Editorial Director||April 1, 2016
    From concept and formulation to testing and filling, today’s contract manufacturers perform a range of services for marketers

  • Multi-Cultural Beauty Update

    Multi-Cultural Beauty Update

    Christine Esposito, Associate Editor||April 1, 2016
    Established brands and start-ups address the needs of multi-cultural beauty consumers.

  • The Scalp Microbiome

    The Scalp Microbiome

    Nava Dayan PhD, Dr. Nava Dayan LLC||April 1, 2016
    A review of recent findings and innovative approaches for treating scalp disorders.