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Indonesia has booming cosmetics market – Retail in Asia

Retail in Asia

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Indonesia has booming cosmetics market

L’Oreal, the world’s top cosmetics firm, opened its biggest factory globally in Java this week, as it is seeing 30 percent sales growth and expects the country’s beauty market to become the third biggest in Asia.

Rival Unilever, the country’s market leader, plans to expand its factories too, while local cosmetics firm Martina Berto is also building a new plant in Java.

Domestic demand from new middle class consumers, and investment to feed it, are now key drivers of Southeast Asia’s biggest economy. Retail sales surged 22 percent in September, keeping economic growth above 6 percent, among Asia’s strongest.