L'Oréal is looking at 30% sales growth in India this year
1 billion consumers targeted over the next decade
The latest figures from L'Oréal show the cosmetics major increasing sales in India this year by some 30% after comparable growth in this emerging market last year. The group's consumer products division aims to achieve a target of 1 billion consumers in the country over the next decade.
L’Oréal head, Jean-Jacques Lebel, has said that sales growth in these newly emerging markets has risen overall from 28% five years ago to 38% this year. Market share in India alone is estimated at 9.7% with consumers spending a mere 2 euros per head on beauty care compared with 9 in China and 80 in Brazil.
Products such as Garnier Men have been adapted to local demand with prices set in terms of living standards. The Fructis shampoo is retailing at 3 rupees (€0.05) for example.