L’Oréal is a leading global beauty-care company: “For more than a century, L’Oréal has devoted itself solely to one business: beauty. It is a business rich in meaning, as it enables all individuals to express their personalities, gain self-confidence, and open up to others. L’Oréal has set itself the mission of offering all women and men worldwide the best of cosmetics innovation in terms of quality, efficacy, and safety. It pursues this goal by meeting the infinite diversity of beauty needs and desires all over the world.” The firm’s annual sales are nearly $30 billion worldwide.
Among L’Oréal’s leading brands are L’Oréal Paris, Lancôme Paris, Giorgio Armani Beauty, Yves Saint Laurent Beauty, Ralph Lauren Fragrances, Maybelline, Cacherel, and Garnier. According to the firm’s 2013 annual report, these are its top cosmetics markets as forecast for the year 2025.
With the rapid growth of the Chinese market, L’Oréal is greatly ramping up its efforts there. For example, Laurie Burkitt reports for the Wall Street Journal that:
“As part of its shifting China strategy, L’Oréal recently closed on its €636 million deal ($882.9 million) to acquire Magic Holdings International Ltd., the Chinese owner of the MG brand of beauty products. MG sells 167 different kinds of paper-peel and mud masks across China, ranging from chamomile allergy-relieving to red wine complex whitening. L’Oréal will first look to expand MG masks in the brand’s home market, where the French company is refocusing after pulling its mass-market Garnier beauty-products brand amid intense competition.”
“‘If you are a beauty company, you need to have a Chinese skin care brand,’ said Alexis Perakis-Valat, executive vice-president of L’Oréal’s Asia Pacific region, in an interview. ‘Skincare is to China what makeup is to the U.S.’”
Click the image to read more.