China’s domestic cosmetic brands are regaining their luster. Longrich, a cosmetic maker based in eastern China, recently implemented a new management system in order to streamline its labor-intensive plants. The company already has set up eight research and development centers in China and overseas and has employed top researchers to create new products.
Domestic cosmetic products occupied only one fifth of the market share in China during 2001 and 2008. But since then, domestic brands have climbed to nearly 45 percent of the market.
"Our key competitiveness is information management, which started many years ago. Meanwhile, we also changed our plant’s management to efficient operations which have increased to the international level." said Xu Xiaoping, CEO, Longrich Bioscience.
"Our products target high quality with low prices. One of our famous products has cost only less than two yuan in past years. But in recent years, we have begun to produce high-end products that can compete with international brands." said Xu Zhiwei, President, Longrich Bioscience.
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