L'ORÉAL CHINA UNVEILS ITS FIRST SOCIO-ECONOMIC IMPACT STUDY IN CHINA: 1 L'ORÉAL JOB IN CHINA GENERATES 20 JOBS IN THE WIDER ECONOMY

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, /PRNewswire/ -- L'Oréal China held its 2024/2025 Annual Results Press Meeting, under theme 'Believing in Beauty, Elevating the Game'. L'Oréal China reaffirmed its belief in the Essentiality of Beauty, shared its consumer-centric approach, and introduced its latest strategic investments to lay the foundation for the future in China.

"L'Oréal's purpose of creating beauty aligns with Chinese consumers' growing aspiration of a better life. We firmly believe that investing in China is investing in the future," said Vincent BOINAY, President of L'Oréal North Asia Zone and CEO of L'Oréal China. "With a long-term commitment, we will continue to deepen our presence in China, seizing opportunities from beauty's socio-economic impact, enhancing our proximity to Chinese consumers, and elevating the game with strategic investments. Let's embark on the conquest of new spaces in the beauty galaxy, and win together in the Year of Snake!"

Fueling socio-economic impact in China with beauty

Amid global uncertainties and instability, Vincent reaffirmed L'Oréal's strong confidence in China's beauty market, driven by the country high-quality development and beauty's stronger-than-ever relevance to Chinese society. As a universal quest, beauty intertwines deeply with culture, daily life, the economy, and international relations.

China's dynamic beauty industry is a testament to this. A study by Asterès shows that L'Oréal China supports over 330,000 jobs, with each direct job creating 20 additional jobs across the economy-eight times the national average (2.7). Meanwhile, beauty remains a key pillar of Sino-French cooperation, with France as China's leading cosmetics importer. L'Oréal actively fosters bilateral exchanges through initiatives spanning culture, art, business, and innovation.

Meeting beauty aspiration with consumer centricity

In 2024, despite a challenging market, L'Oréal maintained its leadership as China's NO.1 beauty group, driven by the strength of its 4 divisions. L'Oréal Paris, Lancôme, and Kérastase respectively lead in mass beauty, luxury beauty, and hair care, while L'Oréal Dermatological Beauty captured the largest market share.

Laurence Ma, Deputy CEO of L'Oréal China and General Manager of Luxury Division shared L'Oréal China's systematic strategic framework, which fully leverages its strengths and deep consumer insights, while maintaining a consumer-centric approach:

• Seize what's starting with consumer-centricity and win key consumers clusters including Gen-Z, Gen-X & Boomers, and men;
• Sharpen unique brand portfolio by introducing highly-promising brands, e.g. Miu Miu and Dr.G, while crafting brand personas for 32 diverse brands;
• Elevate hero products driven by innovation, develop breakout hits, and inspire global innovation;
• Advance omni-channel footprint, expand penetration in lower-tier cities, and empower new retail with aspirational experiences and professional partnership;
• With a people-first belief, build a multi-generational management team and enhance reputation among both employees and the public.

Laurence said: "After 28 years in the Chinese market, we believe brand success relies not only on our own capabilities, but also on continuously evolving to meet rapidly changing consumer needs. From brand portfolio and product innovation to channel strategy and talent development, we go from strength to strength. We are committed to bringing the best beauty products and services to China's savvy and sophisticated consumers, fulfilling their ever-growing aspirations for beauty."

Elevating the game for the future of beauty

In 2024, L'Oréal expanded its presence in the Chinese market through investments, including the launch of the group's first smart fulfillment center in Suzhou to meet the growing e-commerce demand with greater operational resilience and capability. The company also invested in Yesskin to seize new opportunities in the expanding aesthetics sector.

Fully confident in the potential of the Chinese market, L'Oréal will continue its Beauty Stimulus Plan, to solidify China's strategic importance for the group and lay the foundation for future growth, expanding investment in key areas:

• Innovation:

- On the 20^th anniversary of L'Oréal China's R&I Center, L'Oréal remains committed to "Innovating in China, for China, Inspiring the World", advancing science across all beauty categories and driving end-to-end innovation.

- L'Oréal has invested in Longevity integrative Science^TM, introducing groundbreaking products like Cell BioPrint, and Lancôme Absolue Longevity Cream.

- The 2025 BIG BANG Beauty Tech Innovation Program kicks off, introducing a new sustainability track and emphasizing AI as a transversal focus across all tracks.

• Society:

- L'Oréal China is in discussions with JD.com, to promote sustainable consumption and lifestyle.

- The For Girls in Science program will further inspire girls with global exchange opportunities.

- Tailoring the "Essentiality of Beauty" program in China, L'Oréal is collaborating on a socio-economic study on beauty with partners including China Association of Fragrance, Flavor and Cosmetic Industries, and co-developing a cultural partnership with the National Museum of China.

• Talents: The 2025 Youth Fun, L'Oréal China's flagship youth empowerment program, kicked off last week with three newly upgraded tracks incl. a beauty-tech hackathon for university students.
• Ecosystem: L'Oréal China established two new investment funds dedicated to supporting burgeoning Chinese beauty brands and related companies, fostering their growth in China and beyond. The first fund, launched in partnership with Cathay Capital and the Jing'an district of Shanghai, will focus on investing in growth-stage beauty brands and related businesses. The second fund, managed by Tiantu Capital in collaboration with BOLD, the venture capital fund of L'Oréal, aims to invest in early-stage companies within the same sector.

About L'Oréal Groupe

For 116 years, L'Oréal, the world's leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as essential, inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 37 international brands and ambitious sustainability commitments in our L'Oréal for the Future programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.

With more than 90,000 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, perfumeries, hair salons, branded and travel retail), in 2024 the Group generated sales amounting to 43.48 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 6,400 Digital talents, L'Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.

More information on https://www.loreal.com/en/mediaroom

About L'Oréal China

L'Oréal, the world's largest beauty company, entered Chinese mainland in 1997. L'Oréal China is headquartered in Shanghai and has five offices across the country. L'Oréal China currently has 32 brands and one R&I center in China, as well as two factories in Suzhou and Yichang, owning more than 15,000 employees. After 28 years of high-quality, steady and sustainable growth, China has become the second-largest market in the world, the headquarter of the North Asia "Beauty Triangle", and one of three Beauty Tech Hubs worldwide. L'Oréal founded the Group's first venture capital firm of regional markets in China, "Shanghai Meicifang Investment Co., Ltd". L'Oréal Group's first self-build smart fulfillment center has been officially opened in Suzhou.. As one of the best corporate citizens in China, L'Oréal China has always implemented and kept the "L'Oréal for the Future Sustainable Development Commitment 2030" in mind. China is L'Oréal's first market to reach 100% renewable energies for its sites, and L'Oréal China actively contributes to the good development of Chinese society through CSR programs.