On 17 January 2017, the members of the executive committee and employees of L’Oréal China celebrated the 20th anniversary of the subsidiary––which has become one of the most dynamic in the world––in the Central Hall of the Shanghai Exhibition Centre.
Stéphane Rinderknech, CEO of L’Oréal China, explains :
L’Oréal has accompanied three generations of Chinese consumers. 20 years of success is just another starting point. For next 20 or even 40 years, I’ll be honoured to continue this adventure together with our great team in China to achieve new heights!
After just twenty years, L’Oréal China has earned its place as the undisputed leader in six categories of the Chinese beauty market in 2016. Driven by L’Oréal Luxe, China is now the Group’s 2nd largest market with head offices located in Shanghai, a research and innovation centre in Pudong, two factories in Yichang and Suzhou, and the company’s four divisions present with its 15 flagship brands.
Today, L’Oréal China’s aim is to focus on Chinese consumers by inspiring their desire, offering tailored products, incorporating sustainable development objectives, and reinforcing its online presence.
L’Oréal China’s digitalisation strategy has paid off. In 2016, 20% of L’Oréal China’s sales were made online. Today the subsidiary is a leader and innovator in e-commerce in China, in particular through its partnership with Alibaba.
To strengthen its ties with consumers, and as a part of the Group’s Sharing Beauty With All commitment, L’Oréal China in partnership with the Women’s Development Foundation announced the launch of the L’Oréal China Women Empowerment fund. The aim is to fund twenty projects focusing on empowering Chinese women in the areas of education, the environment, and self-esteem building.