Shanghai Jahwa eyes international expansion following asset sale
Group aims to raise $797 million in sale
Chinese state-owned beauty group, Shanghai Jahwa is to sell $797m (5.1bn yuan) of assets as part of an expansion strategy to acquire international luxury brands.
The group, whose portfolio includes the Chinese skin care brand Herborist and men’s grooming range GF, intends to divest some of the assets of its Shanghai Jahwa United Co. business unit to Ge Wenyao, the unit’s chairman.
According to figures from Euromonitor, Shanghai Jawha has a 1.6% share of China’s beauty and personal care market but this is forecast to jump to 58% by 2015.
