In November, the Chinese cosmetics company Proya will start selling 400 stores of the American chain Ulta Beauty, the Financial Times writes. Local brands step up international expansion amid slowing demand in China. China's cosmetics market is valued at approximately $149 billion, but foreign corporations such as LOréal hold an 8.6 percent share. In search of new growth points, manufacturers from China are buying foreign assets.

In November, the Chinese cosmetics company Proya will start selling 400 stores of the American chain Ulta Beauty, the Financial Times writes. Local brands step up international expansion amid slowing demand in China. China's cosmetics market is valued at approximately $149 billion, but foreign corporations such as LOréal hold an 8.6 percent share. In search of new growth points, manufacturers from China are buying foreign assets.