|With nearly 1.21 billion people in 2011, India is obviously a key target within L’Oréal’s strategy to attract a billion new consumers by 2020, in particular by tapping into the growing middle class in emerging countries. For this purpose, the group strives to better understand the needs of local consumers and invests in research and innovation.
L’Oréal has been present in India for 18 years with a portfolio of 15 brands, growing at an average annual growth rate of 30%. The Group is number 3 of the beauty sector in India, with 10% market share in urban areas.
To better understand the aspirations of the Indian middle class, L’Oréal took a decisive step two years ago when it decided to set up a research and innovation centre with evaluation and formulation laboratories in Mumbai.
Thanks to a key consumer insight, L’Oréal seized the opportunity to meet the needs of this demanding clientele by offering Indian women products that are modern and innovative yet specific to their existing beauty habits.