We intend to more than double our business in India in next couple of years: LOreal CEO
Paris, Jun 2 (PTI) Cosmetics major L'Oreal on Monday said it plans to more than double its business in India over the next couple of years besides expanding its factories.
L'Oreal CEO Nicolas Hieronimus also said India is a key strategic market for them and it is one of the world's fastest-growing beauty markets.
"India is a very strategic market for L'Oreal. We intend to more than double our business in the next couple of years , expand our factories which are today manufacturing 95 per cent of what we sell in India and also exporting to rest of the region.
"So it is a country of opportunities and one of the fastest beauty markets in the world and is a big priority for L'Oreal," he told reporters here.
He met Commerce and Industry Minister Piyush Goyal, who is here on an official visit to hold meetings with French leadership and firms to boost trade and investment between the two countries.
"We are exporting hair and skin products, particularly to the Gulf region, it is a beginning of a big adventure.We are manufacturing half a billion units in India but we intend to increase that in the years to come," Hieronimus added.
L'Oreal India is a subsidiary of French multinational L'Oreal SA, which owns a 99.99 per cent stake in the company.
L'Oreal India has been operating in India since 1994. It now has a portfolio of brands here including L'Oreal Paris, Garnier, Maybelline New York, NYX Professional Makeup -- which are available in mass market channels.
In hair and beauty salons it has brands L'Oreal Professionnel, Matrix, Kerastase, Cheryl's Cosmeceuticals, Redken and in selective distribution Kiehl's, Lancome, Yves Saint Laurent. It is also present in pharmacy and chemist channels through CeraVe.
Goyal also met Luca de Meo, CEO of Renault Group.
"Exchanged views on India's growing potential as an automobile manufacturing hub, along with emerging opportunities in the EV sector," Goyal said in a post on X.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
4 hours ago
- News18
US, Chinese officials to meet in London next week for new round of trade talks
Agency: PTI Last Updated: Washington, Jun 6 (AP) Senior US administration officials will meet with a Chinese delegation on Monday in London for the next round of trade negotiations between Washington and Beijing, President Donald Trump said Friday. The meeting comes after a phone call between Trump and Chinese leader Xi Jinping on Thursday, which the US president described as a 'very positive" conversation as the two countries attempt to break an impasse over tariffs and global supplies of rare earth minerals. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer will represent the US side in the trade talks. 'The meeting should go very well," Trump wrote on his social media platform Friday afternoon. (AP) GSP
Time of India
5 hours ago
- Time of India
Bareilly industrialist IIA nat'l chief
Lucknow: Bareilly-based industrialist Dinesh Goyal was elected as the national president of the Indian Industries Association for the year 2025-2026 on Friday, said IIA election officer SB Jakhotiya. Goyal, 62, is a chartered accountant by education. He has held several posts in IIA in the past 15 years, including that of general secretary and senior vice-president, besides being a member of the Indian Institute of Packaging and Forest Research Institute – Research Analysis Group, Dehradun. Goyal is also chief advisor (industries) at Rohilkhand Incubation Foundation, MJP Rohilkhand University, and earned many corporate excellence awards for his work. Goyal will take charge as IIA chief in July. "My main priority would be to promote MSMEs in a global competitive environment and help in formulating policies/schemes suited to the MSME sector by interacting with the state and central govt," he said. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
&w=3840&q=100)
First Post
5 hours ago
- First Post
China, France seek resolution on brandy tariffs as trade talks continue
China and France have agreed to resolve their trade disputes through dialogue, China's foreign ministry said on Friday, though there was no indication that agreement had been reached in talks on lifting Chinese levies on European brandy. read more China and France have agreed to resolve their escalating trade tensions through dialogue, Beijing's foreign ministry said Friday, offering cautious optimism for a deal on punitive Chinese tariffs targeting European brandy, particularly French cognac. The announcement follows high-level talks this week between Chinese Commerce Minister Wang Wentao and French Trade Minister Laurent Saint-Martin on the sidelines of an OECD conference in Paris. Technical discussions have also been underway in Beijing, where Chinese officials reportedly signaled a willingness to settle the dispute, though some sticking points remain. STORY CONTINUES BELOW THIS AD The latest round of negotiations have raised hopes of a settlement, two industry sources with knowledge of the discussions said. 'The two sides have reached consensus on resolving economic and trade issues through dialogue and consultation', the Chinese foreign ministry said after a call between the Chinese and French foreign ministers. Beijing imposed anti-dumping duties of up to 39% on European brandy earlier this year — measures widely seen as retaliation for EU tariffs targeting Chinese electric vehicle exports. France, the leading cognac producer, has been most affected, with major players like LVMH's Hennessy, Pernod Ricard's Martell, and Rémy Cointreau experiencing a decline in sales to China, their most valuable export market in terms of revenue. China had initially set a final decision on the duties for January, but has extended the deadline twice, now pushing it to July 5. Beijing was initially meant to make a final decision on the duties by January, but extended the deadline to April and then again to July 5. China is seeking to strengthen trade ties with the 27-member bloc as relations with the United States have soured in the escalating trade war. 'France will not compromise on … the protection of its industries, such as cognac,' French trade minister Laurent Saint-Martin said after talks with Wang on Wednesday. Chinese officials, meanwhile, signalled to industry officials during three rounds of technical meetings in Beijing this week they wanted to settle the matter, one of the sources said, but added some sticking points remained. STORY CONTINUES BELOW THIS AD With annual imports of around $1.7 billion last year, China is the French brandy industry's most important measured by value and the second-largest by volume after the United States. With inputs from agencies
