Germany-based Beiersdorf AG signed a letter of intent with Hong Kong-based C-Bons Holding (International) Limited to explore cooperation opportunities in hair care, said sources with C-Bons on Thursday.

According to the letter signed on Tuesday, both sides will explore cooperation opportunities in such areas as sales, marketing and research and development regarding C-Bon's hair care and hair styling businesses in China's mainland.

Both companies have agreed to discuss a potential equity investment by Beiersdorf in C-Bon's Hair Care within the next several months.

C-Bon's businesses covers various sectors including personal care, real estate and pharmaceutical. C-Bon's hair care brands in the mainland includes Slek and Maestro.

Still not entering China's hair care market, Beiersdorf has taken China as one of its priority countries in future market expansion strategy.

Beiersdorf's brands in China include Nivea.

Source: Xinhua