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January 6, 2004
By: TOM BRANNA
According to Forbes magazine and Credit Suisse First Boston (CSFB), Procter & Gamble may be mulling over an acquisition of cosmetics manufacturer Yue-Sai, a company that is active in the Chinese market and controlled by New York-based fragrance maker Coty.The research firm said that over the holidays, Shanghai press outlets bandied about the possible purchase. CSFB described Yue-Sai as “a high-end cosmetics brand.” The China Association of Fragrance Flavor and Cosmetics Industry recently reported that China is the world’s eighth largest and Asia’s second largest market for cosmetics.
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