China cosmetics giant launches in Australia
The company has snapped up popular Australian beauty brand MOR Cosmetics and purchased a manufacturing facility in the country, situated in Melbourne, to produce and distribute both MOR and a new brand, Franic.
According to The Sydney Morning Herald, CEO of MOR Cosmetics Jeff Nadelman stated that Uniasia's move into Australia marks a key step in the newly-acquired subsidiary company's plan for global expansion.
"It's a key component of our overall vision to provide Australia, Asia and Europe with cosmetic products," the company head explained.
Australia and China: getting cosy
Much has been made in recent months of the growing appetite among Australian consumers for Chinese products, and vice versa, following the signing of the China-Australia Free Trade Agreement (ChAFTA) at the end of last year.
Ahead of the largest ever trade visit of Australia to China, which took place this April, Australia minister for trade and investment Steven Ciobo described China as the country's biggest export market.
"We are committed to such a large showing because China will remain our largest export market for the foreseeable future, and the China-Australia Free Trade Agreement will form the basis of a broader, more diverse commercial relationship for many years to come,” the minister confirmed.
Australia's prime minister, Malcolm Turnbull, recently described China as the country's biggest tourism market too.
Uniasia
Uniasia describes itself as a 'comprehensive beautification cosmetic enterprise', and the company is especially strong in the arena of research and development across personal care, including skin care, colour cosmetics and hair care.
On its website, the company states that it has obtained multiple patents and worked in collaboration with various international research companies and bodies, including South China University of Technology, Kunming Medical University,and Germany-based BASF.
The move into Australia appears to confirm that the market offers attractive opportunities for Chinese brands, particularly those with products that offer an emphasis on naturals.
