A senior executive of cosmetics and beauty company L’Oreal said that across the Asia Pacific, Middle East and North Africa regions, the largest number of its consumers will come from India between now and 2030. The company is already present across large and small towns in India and have been hugely profitable for years.
The company is aggressively pushing the mass-price segment in terms of distribution and innovation, with brands such as Garnier, L’Oreal Paris and Maybelline, Vismay Sharma, president of L’Oreal South Asia Pacific, Middle East and North Africa told Economic Times.
In an exclusive interview, Sharma who oversees the operations of 35 countries, said, “The addressable market is going to double in the next three-four years, the bulk of which will be recruited by mass brands. Luxury will have a role to play but the mass market will be the biggest growth sector.
“Disposable incomes and salaries are increasing in India, and we are optimistic about the mid- to long-term demand outlook. In the short-term, we are watching closely, because the geo-political situation impacts India as much as it does anywhere else.”
L’Oreal India, a wholly-owned subsidiary of the French company L’Oreal SA, recently appointed Aseem Kaushik as its managing director.
