Russia's booming economy is feeding demand for beauty products making the country a highly attractive destination for international cosmetics companies. Spain-based Lipotec cited its international expansion plans and increased demand for cosmetics in Russia as the reasons for the new agreement. L'Oreal has unveiled plans to invest €45m to build a factory near Kaluga city that will serve Russia's hair care market. According to data from Euromonitor, the three biggest cosmetics firms in Russia operate on a direct sales platform that is often associated with developing markets. Copyright - Unless otherwise stated all contents of this web site are © 2000/2008 - Decision News Media SAS - All Rights Reserved. read more