L’Oréal looks at acquisition in Indian cosmetic market, says report

To capitalise on the beauty market in India, the local arm of the French company, L’Oréal is looking to acquire cosmetic firms to expand its skin and make-up market in the country, reported the Mint.

Amit Jain, managing director of L’Oréal's India business told the daily that the French firm is looking to acquire companies with a range of make-up and skin care products to fill gaps in its existing portfolio. The company’s global M&A (merger and acquisition) team has been talking to various beauty companies in India, the report said.

“What’s of great interest to us is skin and make-up. We are looking for good strong formulations for Indian consumers and high-quality manufacturing. For us, it is also about getting in products that are close to the Indian consumers both from a brand and product type." Jain was quoted as saying by Mint.