On November 29th, Johnson & Johnson subsidiary Kenvue announced an investment of 110 million yuan ($15.45 million) in China to expand its production capacity and upgrade manufacturing facilities in the Chinese market.
Thibaut Mongon, the Global CEO of Kenvue, stated, “Currently, more and more people are actively seeking scientifically effective health solutions, which provides opportunities and momentum for continuous innovation in our business. Over the past thirty years, we have achieved tremendous success in the Chinese market, and I am optimistic about Kenvue’s future development in China.”
It is reported that Kenvue has four factories in China, with three located in Shanghai and one in Beijing. Mongon also mentioned, “We have over 100 scientists at our research and development center in Shanghai dedicated to developing innovative products for the Chinese and Asia-Pacific markets. In the future, we hope to continuously invest, upgrade supply chain capabilities, accelerate the introduction of global innovations, and meet the evolving demands of the Chinese market in terms of health consumption.”
Public information reveals that Kenvue is a consumer health business separated from the Johnson & Johnson group. In May of this year, Kenvue was officially listed on the stock market. Additionally, CHAILEEDO found that based on Kenvue’s performance in the first half of 2023, it ranks ninth among the top ten global beauty companies with approximately $3 billion in cosmetics sales.
