L’Oreal launches women empowerment fund to celebrate 20 years in China
Striving for inner beauty
As 2017 is the 20th anniversary of the French-based cosmetics company arrival in the key APAC nation, we take a look at how L’Oreal is evolving to remain popular and retain brand loyalty.
L’Oreal entered the market thanks to China’s Reform and Opening-up initiative; striving to put “a lipstick in the hands of every Chinese woman” and inspire an entire generation to jump on the beauty bandwagon.
For ten years, China continued to receive investment and evolution as L’Oréal China built one headquarter, one R&I Centre, two plants and four business divisions that housed 15 brands.
China has since become the world’s second-largest economy, helping the L’Oreal Group to reach sales of RMB 10 bn (€1.4 bn) in 2011.
A new generation
As the beauty landscape within China and consumer demands continue to transform, L’Oreal China moves towards optimising innovation through its “New Normal” campaign that harnesses growth to create a “New L’Oréal China” by producing “Beauty for All”.
Demographics within the Chinese market focus on individual preferences and aspirations. Pushes for digital development and improved sustainability also fuel change to ensure the global conglomerate hone and perfect their offerings.
To emphasise the importance of putting Chinese consumers first, L’Oreal is introducing new brands into the marketplace with European natural hair care formula, Ultra Doux, launching last year.
Celebrity endorsements from the likes of UK pop star Cheryl Cole and much-loved spokespeople have become hallmarks of L’Oreal’s efforts, and work towards connecting digital marketing strategies with offline campaigns.
Standing by its “Sharing Beauty with All” motto, which was first established to actively show support for sustainability initiatives, L’Oreal works towards increasing its appeal to both Chinese consumers and those around the world by committing to sustainability efforts.
To the next 20
In celebration of its 20 years in China, L’Oreal has set up the China Women Empowerment Fund, which will choose and financially support 20 projects throughout the country that will support education, environmental protection and sustainability projects for women to help harness confidence and self-esteem.
Stephane Rinderknech, CEO of L’Oréal China proudly stated how “L’Oréal has accompanied three generations of Chinese consumers”.
During this time, the importance of inner beauty and exuding this externally has become a key feature of the brand’s efforts and as such, has been emphasised in marketing and advertising campaigns.
“We believe that beauty can not only make us look stunning but also change our lives by bringing us confidence, happiness and fulfilment,” added Rinderknech.
As for the French juggernaut’s future in China, Rinderknech stressed: ”20 years success is just another starting point, and for next 20, 40 years, even a century, I’ll be honoured to continue this adventure together with our great China team to achieve new heights!”
