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L’Oréal makes first acquisition in India

French cosmetics giant L’Oreal has made its first acquisition in India. The group’s choice went for salon brand Cheryl’s Cosmeceuticals, a pioneer in professional skin care products and treatments in beauty salons which was founded in 1986 and has a distribution network spanning over 10,000 salons in India.

This is an attractive opportunity for L’Oreal in India as it broadens the product offering of our professional products division in this country to also include skincare products and services, L’Oreal India Managing Director Jean-Christophe Letellier said.

Letellier added this acquisition will further enhance L’Oréal’s leadership position in the professional products Indian market where the group is already present - with L’Oréal Professionnel, Matrix, and Kerastase - in about 40,000 salons.

The amount of the transaction was not disclosed.

© 2013 - Premium Beauty News - www.premiumbeautynews.com
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