L'ORÉAL CHINA UNVEILS ITS FIRST SOCIO-ECONOMIC IMPACT STUDY IN CHINA: 1 L'ORÉAL JOB IN CHINA GENERATES 20 JOBS IN THE WIDER ECONOMY

SHANGHAI,April 2, 2025/PRNewswire/ -- L'OréalChinaheld its 2024/2025 Annual Results Press Meeting, under theme'Believing in Beauty, Elevating the Game'. L'OréalChinareaffirmed its belief in the Essentiality of Beauty, shared its consumer-centric approach, and introduced its latest strategic investments to lay the foundation for the future inChina.

"L'Oréal's purpose of creating beauty aligns with Chinese consumers'growing aspiration of a better life. We firmly believe that investing inChinais investing in the future,"said Vincent BOINAY, President of L'Oréal NorthAsia Zoneand CEO of L'OréalChina."With a long-term commitment, we will continue to deepen our presence inChina, seizing opportunities from beauty's socio-economic impact, enhancing our proximity to Chinese consumers, and elevating the game with strategic investments. Let's embark on the conquest of new spaces in the beauty galaxy, and win together in the Year of Snake!"

Vincent BOINAY, President of L'Oréal North Asia Zone and CEO of L'Oréal China, Shares Key Strategies

Fueling socio-economic impact inChinawith beauty

Amid global uncertainties and instability, Vincent reaffirmed L'Oréal's strong confidence inChina'sbeauty market, driven by the country high-quality development and beauty's stronger-than-ever relevance to Chinese society. As a universal quest, beauty intertwines deeply with culture, daily life, the economy, and international relations.

China'sdynamic beauty industry is a testament to this. A study by Asterès shows thatL'OréalChinasupports over 330,000 jobs, with each direct job creating 20 additional jobs across the economy—eight times the national average (2.7). Meanwhile, beauty remains a key pillar of Sino-French cooperation, withFranceasChina'sleading cosmetics importer. L'Oréal actively fosters bilateral exchanges through initiatives spanning culture, art, business, and innovation.

Vincent BOINAY Shares Socio-Economic Impact Study on Beauty

Meeting beauty aspiration with consumer centricity

In 2024, despite a challenging market, L'Oréal maintained its leadership asChina'sNO.1 beauty group, driven by the strength of its 4 divisions.L'OréalParis, Lancôme, and Kérastase respectively lead in mass beauty, luxury beauty, and hair care, while L'Oréal Dermatological Beauty captured the largest market share.

Laurence Ma, Deputy CEO of L'OréalChinaand General Manager of Luxury Divisionshared L'OréalChina'ssystematic strategic framework, which fully leverages its strengths and deep consumer insights, while maintaining aconsumer-centric approach:

  • Seize what's starting withconsumer-centricityand win key consumers clusters including Gen-Z, Gen-X& Boomers, and men;
  • Sharpenunique brand portfolioby introducing highly-promising brands, e.g.Miu Miuand Dr.G, while crafting brand personas for 32 diverse brands;
  • Elevatehero products driven by innovation, develop breakout hits, and inspire global innovation;
  • Advanceomni-channel footprint, expand penetration in lower-tier cities, and empower new retail with aspirational experiences and professional partnership;
  • With apeople-firstbelief, build a multi-generational management team and enhance reputation among both employees and the public.

Laurence said:"After 28 years in the Chinese market, we believe brand success relies not only on our own capabilities, but also on continuously evolving to meet rapidly changing consumer needs. From brand portfolio and product innovation to channel strategy and talent development, we go from strength to strength. We are committed to bringing the best beauty products and services toChina'ssavvy and sophisticated consumers, fulfilling their ever-growing aspirations for beauty."

Laurence Ma, Deputy CEO of L’Oréal China and General Manager of Luxury Division, Shares Systematic Strategic Framework

Elevating the game for the future of beauty

In 2024, L'Oréal expanded its presence in the Chinese market through investments, including the launch ofthe group's first smartfulfillment center in Suzhou to meet the growing e-commerce demand with greater operational resilience and capability. The company alsoinvested in Yesskinto seize new opportunities in the expanding aesthetics sector.

Fully confident in the potential of the Chinese market, L'Oréal will continue its Beauty Stimulus Plan, to solidifyChina'sstrategic importance for the group and lay the foundation for future growth, expanding investment in key areas:

  • Innovation:

- On the 20thanniversary of L'OréalChina'sR&I Center, L'Oréal remains committed to"Innovating inChina, forChina, Inspiring the World", advancing science across all beauty categories and driving end-to-end innovation.

Xavier BLIN, Director of L’Oréal Research& Innovation China, Shares R&I Strategies

- L'Oréal has invested inLongevity integrative ScienceTM, introducing groundbreaking products like Cell BioPrint, and Lancôme Absolue Longevity Cream.

- The 2025 BIG BANG Beauty Tech Innovation Programkicks off, introducing a new sustainability track and emphasizing AI as a transversal focus across all tracks.

  • Society:

- L'OréalChinais in discussions withJD.com, to promote sustainable consumption and lifestyle.

- The For Girls in Science programwill further inspire girls with global exchange opportunities.

-  Tailoring the"Essentiality of Beauty"program inChina, L'Oréal is collaborating ona socio-economic study on beautywith partners including China Association of Fragrance, Flavor and Cosmetic Industries, and co-developinga cultural partnershipwith the National Museum ofChina.

Zhenzhen LAN, President of Public Affairs for L'Oréal North Asia and China, Shares the Concept and Progress of"Essentiality of Beauty" Program

  • Talents:The2025 Youth Fun, L'OréalChina'sflagship youth empowerment program, kicked off last week with three newly upgraded tracks incl. a beauty-tech hackathon for university students.



  • Ecosystem:L'OréalChinaestablishedtwo new investment fundsdedicated to supporting burgeoning Chinese beauty brands and related companies, fostering their growth inChinaand beyond. The first fund, launched in partnership withCathay Capital and the Jing'an district ofShanghai, will focus on investing in growth-stage beauty brands and related businesses. The second fund, managed byTiantu Capital in collaboration with BOLD, the venture capital fund of L'Oréal, aims to invest in early-stage companies within the same sector.

 

About L'Oréal Groupe

For 116 years, L'Oréal, the world's leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L'Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.

With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, perfumeries, hair salons, branded and travel retail), in 2024 the Group generated sales amounting to43.48 billion euros.With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L'Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.

More information onhttps://www.loreal.com/en/mediaroom

About L'OréalChina

L'Oréal, the world's largest beauty company, entered Chinese mainland in 1997. L'OréalChinais headquartered inShanghaiand has five offices across the country. L'OréalChinacurrently has 32 brands and one R&I center inChina, as well as two factories in Suzhou and Yichang, owning more than 15,000 employees. After 28 years of high-quality, steady and sustainable growth,Chinahas become the second-largest market in the world, the headquarter of the North Asia"Beauty Triangle", and one of three Beauty Tech Hubs worldwide. L'Oréal founded the Group's first venture capital firm of regional markets inChina,"Shanghai Meicifang Investment Co., Ltd". L'Oréal Group's first self-build smart fulfillment center has been officially opened in Suzhou.. As one of the best corporate citizens inChina, L'OréalChinahas always implemented and kept the"L'Oréal for the Future Sustainable Development Commitment 2030"in mind.Chinais L'Oréal's first market to reach 100% renewable energies for its sites, and L'OréalChinaactively contributes to the good development of Chinese society through CSR programs.

 

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SOURCE L'Oréal