Buzzword:

Silver industry refers to the business sector that focuses on products and services for seniors. Industries that have focused on younger consumers are retooling themselves to create, produce and market goods and services to the older demographic group. They range from housing and cosmetics to travel and entertainment.

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ItemfromJan16,1989,in ChinaDaily:Asaleswoman atanewlyopenedwigstore, thefirstofitskindinBeijing, combsthewigforacustomer....

Thestore,inCaishikou, offers20kindsofwigsinfive colors,inadditiontotoupees....Wigsarealsoavailableforrent.

Wigs are becoming increasingly popular in the entertainment industry.

Many celebrities who change their hairstyles on a regular basis are dependent on them.

The booming global business of wigs has brought a Chinese brand under international spotlight.

Rebecca Hair Products was launched in 1995 in Xuchang, Henan province. Eight years later, it became the first company of its kind to list on the Shanghai Stock Exchange.

Now one of the world’s top wig makers, Rebecca has subsidiaries in London, Chicago and in Nigeria’s big- gest city, Lagos. It has research teams specifically focusing on Europe, the United States, and Africa.

In some African countries, wigs are not a luxury item as they are used daily by many women, both rich and poor.

Rebecca was the first Chinese wig producer to open a business in Africa. It wasn’t until 2005 that another Chinese competitor entered the market.

Now there are about 40 Chinese wig makers registered in Nigeria alone, leading to the creation of the Chinese Wig Companies Association in 2009. The group is headed by the local chief of Rebecca.