L’Oréal CEO Nicolas Hieronimus is planning to more than double the French beauty giant’s India operations over the next few years.
The beauty executive told reporters in the region on 2 June that India is a key market for the group and one of the world's fastest-growing beauty markets.
Hieronimus met with India’s Commerce and Industry Minister Piyush Goyal, who is on an official visit to hold meetings with French leadership and firms to boost trade and investment between the two countries.
"India is a very strategic market for L'Oréal,” said Hieronimus, as reported by The Economic Times.
“We intend to more than double our business in the next couple of years, expand our factories which are today manufacturing 95% of what we sell in India and also exporting to [the] 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'Oréal.”
India’s bustling retail market is fast becoming a rising star in beauty, with many beauty giants taking note.
The country’s beauty and personal care market is projected to generate a revenue of US$33bn this year alone, according to analyst Statista.
"We are exporting hair and skin products, particularly to the Gulf region, it is the beginning of a big adventure,” added Hieronimus.
“We are manufacturing half-a-billion units in India but we intend to increase that in the years too.”
L'Oréal India has been operating in India since 1994 and is a subsidiary of French multinational L'Oreal SA, which owns a 99.99% stake in the company.
This expansion news comes hot on the heels of L’Oréal being named the most future-ready beauty company in 2025 due to its adaptability in the current economic climate.