L’Oreal pulls Garnier brand from China

French cosmetics and skincare giant L’Oreal (OR.EPA) plans to pull its Garnier business from the Chinese market, Financial Times reported. The group on Tuesday said it would halt sales of its Garnier beauty and hair products in China. L’Oreal said it would focus on its two other mass market brands in China: Maybelline, which is mainly make-up and L’Oreal Paris, covering skincare, make-up and haircare. The announcement comes just a week after US rival Revlon (REV.NYSE), a much smaller player in the China beauty products market, said it would withdraw from the country and cut 1,100 jobs.