Wipro to tap demand for luxury skincare products among China’s growing middle class.

Wipro‘s recent $144 million acquisition of  L.D. Waxson’s Bio-essence range offers Wipro access to the premium skincare market in China, which Euromonitor International estimates will grow to 38.2 billion yuan ($6.1 billion) in 2016 from 22.1 billion yuan last year and is dominated by Procter & Gamble Co. and Mary Kay Inc. The deal also helps the unit tap skincare demand in Southeast Asian markets with sizable ethnic Chinese populations like  Vietnam and Indonesia.

Read more here :

http://www.bloomberg.com/news/2013-02-12/bird-s-nest-cream-to-drive-wipro-s-china-growth-corporate-india.html

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