Mary Kay’s move suggests a confidence in the Chinese beauty market which its competitors lack, evidenced by L’Oreal’s withdrawal of its Garnier range, and the halt of Revlon’s activity in the country.
A spokeswoman for Mary Kay reportedly said it would be the company's first office building purchase in China, a market it entered in 1995.
The Point Jing’an office building, located in Shanghai’s central district Jing’an, is likely to cost the cosmetics brand up to $135 million.
While other beauty titans are struggling in the wake of the China’s redirected focus onto online rather than high street sales, Mary Kay’s purchase suggests the brand has confidence in the market.