It is being reported that L’Oreal will reduce the prices of its beauty products sold in China, including cosmetics and skincare, in an effort to boost sales. 

L’Oreal said this, in a statement to Reuters – in response to the news that China is cutting import taxes on consumer goods: “We have decided to actively respond to this decision by lowering the prices of most of our imported products, as we believe it will encourage domestic consumption.”

The news also gives other global brands the opportunity to bolster domestic consumption in China.

Here’s the full story, at RTE News.

Photo: L’Oreal’s Colour Riche collection