The CEO of the world’s leading beauty company, Nicolas Hieronimus, took advantage of the Indian Prime Minister’s visit to announce his group’s intention to step up its presence in the Asian subcontinent. In particular, he plans to double production in the country within two years.
L’Oréal doubles its stake in India.
On June 2, Nicolas Hieronimus, CEO of the world’s leading beauty company, took advantage of his meeting with Indian Minister of Commerce and Industry Piyush Goyal to unveil to the press his growing ambitions on the Asian subcontinent.
Piyush Goyal was on a three-day official visit to France to meet with business leaders and stimulate trade and investment partnerships.
A highly strategic market for L’Oréal
However, L’Oréal no longer needs to be convinced of the country’s potential. “India is a very strategic market for L’Oréal,” Nicolas Hieronimus explained during a meeting with journalists. “We intend to more than double our business over the next two years and expand our factories, which currently manufacture 95% of what we sell in India and also export to the rest of the region.”
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Featured photos: L’Oréal CEO Nicolas Hieronimus with Indian Minister of Commerce and Industry Piyush Goyal © Indian Embassy in Paris
