L’Oréal CEO expresses resolve to develop India on the again of e-commerce acceleration

Talking in the course of the agency’s newest first-quarter earnings convention, Hieronimus stated India was up 20%, primarily pushed by its skilled enterprise, mass skincare merchandise, in addition to the acceleration of e-commerce available in the market.

Whereas that is excellent news, he admitted that the agency might enhance its presence in India​. “What I need to say about India is that we’re too small there. It’s one of many markets on this planet the place we have now one in all our lowest market shares.”

The French magnificence large has the chance to develop its presence in India’s mass magnificence market, with its shopper manufacturers, which embody family names like L’Oréal Paris, Maybelline, and Garnier.

“One of many key ambitions of our crew in India and our shopper division – as a result of it is actually a mass-market enterprise – is to proceed to speed up and produce our market share to the place it must be,” ​stated Hieronimus.

He elaborated that the agency might leverage the fast development of e-commerce in India to speed up its development.

“It’s going to take me a while however… contemplating the truth that our market share in e-commerce is superior to our market share in brick-and-mortar, and that the market that’s actually accelerating is e-commerce, I feel we’re in place to enhance on our rating on this very stunning and big nation.”

Sturdy Q1 in APAC

Regardless of the challenges in markets like China, L’Oréal reported development throughout all Asia, with North Asia and South Asia Pacific, Center East and North Africa (SAPMENA) zones recording a development of 18% and 18.7% gross sales development respectively.

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