Beauty market in India is very buoyant and growing between 10% and 12%: L’Oréal India

In the face of these intricate times, brands find themselves compelled to keep pace with the ever-evolving realms of culture and technology. Yet, merely doing so is no longer sufficient.

Acknowledging the imperative to stay ahead of the curve, the world's largest beauty company, boasting several iconic brands, embarked on a truly disruptive journey. L’Oréal, which was once solely a beauty company, made a strategic shift to become a beauty tech company, with India playing a pivotal role in this transformative trajectory.

In an interview with CNBC-TV18, Aseem Kaushik, the Managing Director at L’Oréal India, underscored how the global beauty powerhouse is integrating technology into every facet, spanning from product development to marketing and media strategies.

According to Kaushik, the beauty market in India is very buoyant and growing between 10% and 12% depending on the specific channel. He highlighted that while online market is more dynamic, offline channels continue to thrive.

Further, Kaushik emphasized the online beauty market's significance in India, constituting approximately 17% of the total beauty market and growing at nearly twice the speed of its offline counterpart. In navigating this dynamic landscape, L’Oréal, as a dedicated beauty tech company, has demonstrated exceptional performance in recent months, outpacing market growth in virtually all the categories it operates in.