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. This remarkable success was primarily driven by the strength of its 4 divisions. Specifically, L’Oréal Paris, Lancôme, and Kérastase continue to lead in mass beauty, luxury beauty, and hair care, respectively. Meanwhile, L’Oréal Dermatological Beauty captured the largest market share, further reinforcing the group’s dominant position.
Moreover, Laurence Ma, Deputy CEO of L’Oréal China and General Manager of the Luxury Division, shared insights into L’Oréal China’s systematic strategic framework. This framework not only fully leverages the company’s core strengths and deep consumer insights but also ensures a consumer-centric approach. By doing so, L’Oréal is able to stay ahead of market trends while continuously meeting evolving consumer demands.
- 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. This included the launch of the group’s first smart fulfillment center in Suzhou. The center aims 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. This plan aims to solidify China’s strategic importance for the group and lay the foundation for future growth. L’Oréal will also expand investment in key areas:
- Innovation:
- On the 20th anniversary of L’Oréal China’s R&I Center, L’Oréal remains committed to “Innovating in China, for China, Inspiring the World.” The company continues to advance science across all beauty categories. It is also driving end-to-end innovation.
- L’Oréal has invested in Longevity integrative ScienceTM, introducing groundbreaking products like Cell BioPrint, and Lancôme Absolue Longevity Cream.
- The 2025 BIG BANG Beauty Tech Innovation Program kicks off. It introduces a new sustainability track and emphasizes AI as a transversal focus across all tracks.
- Society:
- L’Oréal China is in discussions with com, to promote sustainable consumption and lifestyle.
- The For Girls in Science program will further inspire girls with global exchange opportunities.
- L’Oréal is tailoring the “Essentiality of Beauty” program in China. The company is collaborating on a socio-economic study on beauty with partners, including the China Association of Fragrance, Flavor and Cosmetic Industries. Additionally, L’Oréal is 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 was launched in partnership with Cathay Capital and the Jing’an district of Shanghai. It will focus on investing in growth-stage beauty brands and related businesses. The second fund is managed by Tiantu Capital in collaboration with BOLD, L’Oréal’s venture capital fund. It aims to invest in early-stage companies within the same sector.
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