Proya recorded 29.8% revenue growth in the third quarter, according to the available report. The Chinese beauty conglomerate’s performance was supported by continued expansion, including efforts to build its presence in overseas markets.
Despite the stronger revenue, profit declined by double digits during the period. The decrease was attributed to increased marketing and promotional expenses as Proya invested in its international expansion.
The results highlight the impact of higher promotion costs on the company’s profitability as it seeks to grow beyond its domestic market.
Sources: The Business of Fashion.