SHANGHAI, April 2, 2025 /PRNewswire/ -- L'Oreal China held its 2024/2025 Annual Results Press Meeting, under theme 'Believing in Beauty, Elevating the Game'. L'Oreal China reaffirmed 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 in China.

"L'Oreal's purpose of creating beauty aligns with Chinese consumers' growing aspiration of a better life. We firmly believe that investing in China is investing in the future," said Vincent BOINAY, President of L'Oreal North Asia Zone and CEO of L'Oreal China. "With a long-term commitment, we will continue to deepen our presence in China, 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'Oreal North Asia Zone and CEO of L'Oreal China, Shares Key Strategies

Fueling socio-economic impact in China with beauty

Amid global uncertainties and instability, Vincent reaffirmed L'Oreal's strong confidence in China's beauty 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's dynamic beauty industry is a testament to this. A study by Asteres shows that L'Oreal China supports 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, with France as China's leading cosmetics importer. L'Oreal 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'Oreal maintained its leadership as China's NO.1 beauty group, driven by the strength of its 4 divisions. L'Oreal Paris, Lancome, and Kerastase respectively lead in mass beauty, luxury beauty, and hair care, while L'Oreal Dermatological Beauty captured the largest market share.

Laurence Ma, Deputy CEO of L'Oreal China and General Manager of Luxury Division shared L'Oreal China's systematic strategic framework, which fully leverages its strengths and deep consumer insights, while maintaining a consumer-centric approach:

• Seize what's starting with consumer-centricity and win key consumers clusters including Gen-Z, Gen-X & Boomers, and men;
• Sharpen unique brand portfolio by introducing highly-promising brands, e.g. Miu Miu and Dr.G, while crafting brand personas for 32 diverse brands;
• Elevate hero products driven by innovation, develop breakout hits, and inspire global innovation;
• Advance omni-channel footprint, expand penetration in lower-tier cities, and empower new retail with aspirational experiences and professional partnership;
• With a people-first belief, 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 to China's savvy and sophisticated consumers, fulfilling their ever-growing aspirations for beauty."

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

Elevating the game for the future of beauty

In 2024, L'Oreal expanded its presence in the Chinese market through investments, including the launch of the group's first smart fulfillment center in Suzhou to meet the growing e-commerce demand with greater operational resilience and capability. The company also invested in Yesskin to seize new opportunities in the expanding aesthetics sector.

Fully confident in the potential of the Chinese market, L'Oreal will continue its Beauty Stimulus Plan, to solidify China's strategic importance for the group and lay the foundation for future growth, expanding investment in key areas:

• Innovation:

- On the 20^th anniversary of L'Oreal China's R&I Center, L'Oreal remains committed to "Innovating in China, for China, Inspiring the World", advancing science across all beauty categories and driving end-to-end innovation.

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

- L'Oreal has invested in Longevity integrative Science^TM, introducing groundbreaking products like Cell BioPrint, and Lancome Absolue Longevity Cream.

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

• Society:

- L'Oreal China is in discussions with JD.com, to promote sustainable consumption and lifestyle.

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

-  Tailoring the "Essentiality of Beauty" program in China, L'Oreal is collaborating on a socio-economic study on beauty with partners including China Association of Fragrance, Flavor and Cosmetic Industries, and co-developing a cultural partnership with the National Museum of China.

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

• Talents: The 2025 Youth Fun, L'Oreal China's flagship youth empowerment program, kicked off last week with three newly upgraded tracks incl. a beauty-tech hackathon for university students.
  
  
• Ecosystem: L'Oreal China established two new investment funds dedicated to supporting burgeoning Chinese beauty brands and related companies, fostering their growth in China and beyond. The first fund, launched in partnership with Cathay Capital and the Jing'an district of Shanghai, will focus on investing in growth-stage beauty brands and related businesses. The second fund, managed by Tiantu Capital in collaboration with BOLD, the venture capital fund of L'Oreal, aims to invest in early-stage companies within the same sector.

 

About L'Oreal Groupe

For 116 years, L'Oreal, 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'Oreal 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 to 43.48 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'Oreal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.

More information on https://www.loreal.com/en/mediaroom

About L'Oreal China

L'Oreal, the world's largest beauty company, entered Chinese mainland in 1997. L'Oreal China is headquartered in Shanghai and has five offices across the country. L'Oreal China currently has 32 brands and one R&I center in China, 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, China has 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'Oreal founded the Group's first venture capital firm of regional markets in China, "Shanghai Meicifang Investment Co., Ltd". L'Oreal Group's first self-build smart fulfillment center has been officially opened in Suzhou.. As one of the best corporate citizens in China, L'Oreal China has always implemented and kept the "L'Oreal for the Future Sustainable Development Commitment 2030" in mind. China is L'Oreal's first market to reach 100% renewable energies for its sites, and L'Oreal China actively contributes to the good development of Chinese society through CSR programs.

 

Source: L'Oreal