Recently, L'Oréal China held the "Co-Evolution, Endless Life - 25th Anniversary Development Strategy Annual Online Communication Meeting". President of L'Oréal North Asia and CEO of China, Fauberry, together with representatives of the Group's management team, shared L'Oréal's development history in China through online and offline multi-party linkage. On the occasion of the 25th anniversary of Entering China, L'Oréal has released a new strategy of "Beauty: Co-Evolution, Endless Life", increasing investment and commitment in China, and looking forward to working with ecosystem partners to create an era of "integration".
In the 1/4th century, L'Oréal became the largest cosmetics group in China
Since entering the Chinese market in 1997, L'Oréal has always insisted on one thing: "creating beauty and letting the world move" in China; insisting on one way: resonating with China at the same frequency. With China's reform and opening up, economic take-off and social development, L'Oréal has forged ahead, from scratch, from having to strong, creating a beautiful legend in China.
Speech by L'Oréal North Asia President and China CEO Fauberry
Today, L'Oréal is the largest cosmetics group in China, and China has become L'Oréal's second largest market in the world. As the Group's headquarters in North Asia, one of the world's six R&D hubs and one of the world's three major beauty technology centers, China has become the core strategic market of L'Oréal Group and is expected to become the Group's largest market in the world. For 25 years, L'Oréal has been adhering to the belief of "in China, for China", inspiring Chinese with the power of beauty to seek a better life.
L'Oréal China has always been able to seize the opportunity to ride the wave under the guidance and innovation of strategic decisions, achieving strong growth of more than 20% in the past two consecutive years. In the past fiscal year, L'Oréal has once again achieved double-digit growth, achieving an impressive performance of twice the average growth rate of the beauty market, and the four major business units have achieved growth, of which the high-end cosmetics division has become L'Oréal China's largest business unit, and the professional hair products division has achieved the fastest growth rate. At the 2021 Tmall Singles Day Shopping Festival, L'Oréal has also become one of the groups with a turnover of more than 10 billion.
Unveiled a new strategy for the next 25 years
From the perspective of the beauty industry, in the face of the complex and changeable market, the rapid transformation of consumer behavior and the improvement of quality of life requirements, the general trend of technology and digital development, only by gathering the strength of everyone can we jointly promote the high-quality and sustainable development of the ecosystem. Adhering to the previous strategic model, L'Oréal China has officially released a new strategy of "Beauty: Co-Evolution, Endless Life" to welcome the next 25 years.
L'Oréal China officially unveils its new strategy of "Beauty: Co-Evolution, Endless Life"
Taking 2022 as the starting point, future technology will help open the era of "integration", and time, space, age, gender, industry, resources, media, channels, etc. can be integrated. L'Oréal will strive to break the era of "integration" through the five driving forces of Co-create, Co-empower, Co-develop, Co-protect and Co-invent, and promote the common evolution and change of the beauty industry pattern within the enterprise, the Chinese beauty ecosystem and even the world beauty industry.
Houzhi Lin, Vice President of L'Oréal China and General Manager of the Professional Hair Products Division, delivered a speech
L'Oréal's release of the "Beauty: Co-Evolution, Endless Life" strategy in China is not only a product of the Group's new mission of "Creating Beauty, Moving the World", but also the wisdom of its deep cultivation in China for many years, which is inseparable from the development trend of the Chinese market and the changing needs of consumers. At the communication meeting, L'Oréal also officially announced that it will jointly release the "White Paper on the Change of Chinese Beauty" in the second half of this year, through recording and tracking China's exploration and pursuit of beauty in various periods, in order to bring inspiration to the future development direction of the beauty industry.
Masmin, Vice President of L'Oréal North Asia and China R&D and Innovation Center, delivered a speech
Féberry, President of L'Oréal North Asia and CEO of China, said: "The Chinese economy has always shown strong resilience and potential, injecting momentum and vitality into the recovery of enterprises and the international economy that are developing in China. We are in this special era where challenges and opportunities coexist, and we believe that only by working together can we open up the road to win-win growth for a better future. The next 25 years of glory carries the wisdom and dreams of every L'Oréal and L'Oréal partner, and we look forward to continuing to work hand in hand with everyone in China, making China's opportunities a global opportunity, and jointly creating the beauty that moves the world. ”
Red Star News reporter Zhang Bo
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