L'Oréal China expresses confidence in Chinese market

The company is accelerating local innovation, targeting Generation Z, mature women and male consumers, while focusing on high cost-effectiveness and emerging channels.

Ma noted that today's 15 to 20-year-olds "have less stressed-out parents and are more open to beauty products, showing a willingness to try makeup and fragrances."

She also said that women aged 45 to 55 "are fortunate to have experienced China's rapid development and will always pursue beauty and high-quality living."

Regarding male consumers, Ma remarked, "Past beauty market efforts focused on women, but now many existing products meet men's needs, especially gender-neutral brands." For instance, she stated, about 20 percent of customers for Lancôme's Génifique Ultimate Serum are men, while La Roche-Posay owns a group of male fans and Biotherm will launch a Pro-Xylane based men's cream in August.

The company is also expanding into lower-tier cities and transforming offline stores into experience-driven spaces.

In 2024, the luxury products division added 165 stores, 72 of which are in 39 cities. "With nearly 5,000 shopping malls nationwide, opportunities are vast," Ma revealed.

"Experience, services, new devices and makeovers are compelling reasons for consumers to visit offline stores," Boinay added.

From a corporate responsibility perspective, L'Oréal is also committed to offline development. Boinay explained that L'Oréal China directly or indirectly creates over 330,000 jobs, and each position at L'Oréal China can drive the creation of 20 new jobs in other fields, most of which come from offline operations.

L'Oréal will continue to enhance its supply chain capabilities, with a smart fulfillment center launched in Suzhou, Jiangsu province last year and plans for another in Nantong, Jiangsu province.

"Confidence is reflected in our investments. If we were not confident, we would not be investing as we are doing at the moment in China," Boinay said.