Oliveda forays into Chinese cosmetics market

German natural cosmetics maker Oliveda International has expanded its presence in the Chinese beauty market.

The firm intends to debut its web presence in the country next month, with sales revenue expected to be realised in the second half of fiscal year 2017.

Oliveda expects that the preference of Chinese consumers for niche-cosmetics over foreign mass-produced products will significantly contribute to its sales. According to the firm’s estimate, the country’s market for beauty products and cosmetics is set to exceed €40bn, with women spending 10% or more of their income on cosmetic products such as face creams, lipstick, and mascara.

The firm plans to target upper-middle and upper-income consumers believed to favour high-quality products.

Oliveda’s portfolio of high-tech cosmetics are said to be made of cell elixir sourced from the leaves of the mountain olive tree in a Spanish nature reserve. The firm was founded by German real estate investor Thomas Lommel in 2003, while its flagship Olive Tree Pharmacy store concept was introduced in 2015.

With plans to open an additional 20 stores and 100 franchise outlets by 2020, Oliveda currently operates locations at Berlin and Düsseldorf in Germany and Taipei in Taiwan.

The firm is set to open a new store in Los Angeles in the coming months.