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China’s top beauty conglomerate is ready for its world takeover.
After becoming the first Chinese beauty company to surpass 10 billion RMB ($1.4 billion) in annual sales last year, and with an estimated market cap of around $4.8 billion, the 20-year old Hangzhou-based Proya Cosmetics has been on an international M&A drive with an explicit goal to become one of the world’s largest beauty companies. In its most recent earnings report in August, it announced its board approval to list its…
