“Chinese innovation is becoming an inspiration for the rest of the world, and China is already a key engine in L’Oréal’s efforts to transform itself and become a ‘global leader in beauty tech’. A growing number of innovations from China have ‘set sail’ and opened up new channels for the future development of the global beauty industry.” Said Agon: “Compared to the rest of the world, Chinese consumers are more familiar with digital technologies. The level of professional competency is also higher. We believe that L’Oréal China will be able to stand at the forefront of beauty tech developments around the world, and that Chinese consumers will be the first to welcome an even better future made possible by beauty tech.”

Said Agon, CEO of L'Oreal.

“Over the last few years, with the introduction of a number of new policies on various fronts, L’Oréal has been able to grow together with the China market, share in the massive dividends generated by the reform and opening up of the China market, and achieve substantive and healthy development in the process. China has become the second-largest consumer market, second-largest makeup market, and largest trading nation in the world. L’Oréal has also become the largest player in China’s makeup market. In turn, the China market is also the group’s second-largest market in the world. Last year, L’Oréal China achieved its biggest-ever two-digit growth figure in the last 14 years: 33%. The China market has continued to turn in a strong performance in the first half of 2019, and has helped to make the Asia Pacific region the L’Oréal group’s largest regional market.”

Fabrice - CEO of L'Oreal China