Italian fashion abd beauty brand Dolce & Gabbana (D&G) has unveiled plans for 15 new stores across China in an effort to boost business in the world’s fastest-growing luxury-goods market. The company currently operates 26 stores in China, including Hong Kong.

The company says it also plans to introduce a high-end cosmetics line developed with the Procter & Gamble Co.(P&G). D&G and P&G several years ago forged a partnership to produce fragrances and cosmetics. Dolce & Gabbana launched its makeup line with P&G in the U.S. market three years ago and has waited to launch in China until it could develop products for the needs of Chinese consumers, Stefano Gabbana said.

China is projected to become the world’s largest market for luxury goods, with nearly $101 billion in sales, by 2020, according to research group CLSA Asia-Pacific Markets. Reliance on Chinese consumers has grown as they have increased purchases of high-end apparel and accessories in the past few years while Japanese luxury-goods shoppers were reining in spending. And now, after the earthquake and tsunami disasters in Japan, makers of luxury goods won’t be expecting strong sales from Japan, most industry watchers agree. The island nation was the third-largest market for luxury goods last year, according to CLSA.

Along with creating new color palettes, the company will likely also introduce new products, such as facial masks, for the Chinese market, Gabbana said. Dolce & Gabbana foundation sells for around $60 in the U.S., and lipstick costs around $30. Prices for the Chinese market have yet to be determined.

China’s premium cosmetic sales, including skin care and perfumes, grew 15% to an estimated $3.5 billion last year, according to research firm Euromonitor.