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Mar 152011 Gossip
 
L'Oréal
L’Oréal unveils three-pronged strategy for future growth
By Simon Pitman
 
Putting a tough year behind it, the world’s biggest cosmetic company is focusing on three key strategies that aim to transform the business and ensure it remains on top. “We have devoted this year to preparing for the future with three major strategic changes: the broadening of the consumer base with the target of winning a billion new consumers, a thorough transformation of the company to make it stronger and more flexible, a determined increase of investments in R&D and advertising & promotion to accelerate growth,” said Jean-Paul Agon, L’Oréal CEO. Stressing that the foundations of the new strategy has largely been laid during the course of 2009, Agon said that the company is already showing signs of getting off to a good start in the first quarter, which should lead to ‘a handsome growth rate’ and set the pattern for 2010.
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