L’Oréal is continuing its investments in India, one of the key countries for the group to reach its goal to get one billion new consumers by 2020.
The French cosmetics giant has just inaugurated its new Research and Development (R&I) Center to study Indian hair and skin specificities as well as the beauty routines and expectations of Indian consumers. L’Oréal plans to invest a total of 140 million euros in India from 2011 to 2016.
The centre, which will employ over 100 Indian researchers and scientists in India by end 2013, comprises both a Product Development Centre in Mumbai (5,000 square meter) and an Advanced Research Centre in Bangalore.
L’Oréal is recording a growth rate above +20% in India and its sales could reach 230 million euros in 2012. Its brands are distributed in approximately 750,000 points of sale all across India. The group aims to quadruplate its sales and eyes 1.3-billion sales (about 979 billion rupees).