L’Oréal and Lululemon lead a wave of foreign firms vowing fresh investment at Shanghai’s import expo, betting on a recovering luxury market.

Multinational corporations including French beauty giant L’Oréal and Canadian sportswear brand Lululemon have pledged continued investment in China at the world’s largest trade fair in Shanghai, signalling confidence in the world’s second-largest economy amid signs of a consumer recovery. Speaking on the sidelines of the China International Import Expo (CIIE), L’Oréal chief executive Nicolas Hieronimus said “investing in China is investing in the future”, citing the country’s recovering luxury…

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