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When Li Shen and Liu Huipu launched luxury fragrance maker To Summer six years ago, the tastes of the Chinese market tilted decidedly towards sweet, fruity and floral options. But the company, which now operates 11 mono-brand stores across the mainland, found a different route to success offering perfumes like Triple Tea and Cedarwood. This month L’Oréal Group announced that its corporate venture arm would take a minority stake in the company for an undisclosed amount. The deal follows the French beauty giant’s 2022 investment in Documents, another Chinese perfume maker.
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