Neo Derm Group Sets Fooprint On Mainland China
This article was originally published in PharmAsia News
Neo Derm Group, Hong Kong's largest cosmetic dermatology company, has invested RMB 20 million ($2.9 million) to set up its first mainland medical cosmetic center in Shanghai. The cosmetic center, unlike a beauty shop, is a professional dermatology clinic that has been granted a medical institution practice license by Shanghai Municipal Health Bureau. The beauty industry has become one of China's five-largest consumer sectors, with revenue hitting RMB 200 billion ($29.25 billion) in 2006 and expected to double in 2011. Neo Derm Group said that despite the challenging economic situation it has confidence in China's medical cosmetic market thanks to little competition there. The group plans to get listed on the Hong Kong Stock Exchange and set up three to five centers annually in the territory. It will also develop the China and Southeast Asia market. (Click here for more - Chinese Language)
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