After spending huge sums of money and a long and assiduous courtship, global cosmetics giant L'Orealsgroupshas finally married "Mininurse," the four-year object of the group's affections.

　　This is the vivid analogy made by Paolo Gasparrini, general manager of L'Oreal China at the jam-packed press conference last week, which announced the acquisition of household Chinese skincare brand Mininurse by the L'Oreal Group.

　　"It is an important occasion today for L'Oreal. In fact, today's announcement is a result of tremendous efforts, which have been going on for four years," Gasparrini said without hiding his excitement and happiness.

　　In an atmosphere of rejoicing and festivity, L'Oreal unveiled the news that it has hammered out an accord for the acquisition of Mininurse.

　　Although both parties have remained tight-lipped about the purchase price, an insider analyst close to the agreement revealed to China Business Weekly that the deal might involve hundreds of millions of yuan, because it was important enough to change the face of the domestic cosmetics market.

　　"In my eyes, the L'Oreal acquisition of Mininurse is an ideal marriage, because it will give L'Oreal a larger share in and easier access to the low-end cosmetics sector, which is very important in such a price-sensitive local market," the analyst commented, on condition of anonymity.

　　"Mininurse's developed sales networks, especially connections in second- and third-tier cities, may be what L'Oreal wants most. As an international brand, L'Oreal has completed its sales networks in most large Chinese cities. What it will do next is repeat the operation in smaller centres."

　　Mininurse, a mass-market brand, is distributed through some 280,000 outlets across the entire country.

　　The acquisition of Mininurse, headquartered in the South China city of Shenzhen, with its manufacturing base in Central China's Hubei Province, will also help L'Oreal penetrate deepersintosChina's vast Southern and Central market areas in addition to the highly competitive Eastern coastal areas, the analyst added.

　　According to the insider, the deal may cost L'Oreal something between 200 and 500 million yuan (US to 60 million).

　　Obviously, in L'Oreal's eyes, it is a good deal that is worth the money.

　　"This acquisition is an outstanding opportunity to speed up our growth in the Chinese market. It is a major step forward in L'Oreal's development in a market which is strategically important for the group," said Lindsay Owen-Jones, chairman and chief executive officer of L'Oreal.

　　"Targeting young women with a natural style, Mininurse complements our brand portfolio perfectly, and enables us to move more quicklysintosthe Chinese consumer skincare market," Gasparrini added.

　　Coupled with Garnier, another brand similar in style to Mininurse, Gasparrini believes the move will help thesgroupsgain a greater market share.

　　According to the manager, Mininurse appeals to L'Oreal not only because of its massive market share, but also because of its well-developed sales connections and, more importantly, its brand power.

　　"We do not just want to add some market share by buying Mininurse. We want Mininurse to go further, and be a flagship brand under our group, targeting the low-end market sector.

　　"We are buying the brand to help it grow, not to destroy it. If the Mininurse brand were to disappear from the local market someday, the deal today would be a failure," Gasparrini added, responding to a question about whether the Mininurse brand would die after the acquisition.

　　Launched on the Chinese market in 1992, Mininurse has grownsintosone of the top three skincare brands in China, with a 5-per-cent market share.

　　The brand has an excellent image, based on the quality and affordability of its products.

　　It expected to achieve sales of approximately US million in 2003.

　　The acquisition also includes a manufacturing facility in Yichang, in Hubei Province. This factory will enable an increase in production capacity to keep pace with the rapid growth of the group's brands.

　　Certain conditions must be met in China before completion of the transaction, which is subject to the approval of the Chinese authorities.

　　The business will be consolidated during the first half of 2004.

　　Like all touching love stories, there are many twists and turns in the process, since in the beginning, Li Zhida, owner of Mininurse, was reluctant to marry his "daughter" to L'Oreal, Gasparrini joked again.

　　"We actually became interested in Mininurse and started considering the acquisition four years ago. But the biggest obstacle was Li's reluctance to sell the brand. Of course, I fully understand that," Gasparrini said.

　　"It is similar to the situationswheresa man is sitting in his nice house enjoying coffee with his family, and then I knock on his door asking whether his house is for sale or not," Gasparrini added.

　　For Li, president of Shenzhen Raystar Co Ltd, the Mininurse brand is just like his daughter, whom he has seen grow from a little girl to a beautiful woman.

　　"Now I have to marry her to someone. Of course I was not willing to let her go at first," Li said.

　　"But gradually and finally, they persuaded me with their sincerity and assiduous efforts.

　　"Now I have reached a deal with Gasparrini in terms of the integrity of the brand and its sales networks. I am confident our expectations for the brand will not be disappointed, since we both want it grow further," Li added.

　　L'Oreal spent four years persuading Li Zhida to sell the brand.

　　Li agreed he would quit the cosmetics business after selling the brand to L'Oreal.

　　"I did not want Li, an experienced cosmetics businessman, to be my competitor again. If he stays in the field, I may lose my job soon," Gasparrini joked.

　　Li said the next move in his career has not determined yet, but he revealed that he may consider staying in the area of consumer goods.

　　L'Oreal has been operating in the Chinese market since 1997, and its sales reached 113 million euro (US million) in 2002.

　　In China, thesgroupsachieved a 66-per-cent growth in sales in the first nine months of 2003, which is broadly in line with 2002 figures for the same period.

　　The L'Orealsgroupshas rolled out its core brands in this market, and holds several market leader positions: L'Oreal Paris in premium colourants, Maybelline in make-up, Vichy in products sold in pharmacies and Lancome in selective distribution.