Bangkok, 13 March 2017 - L’Oréal (Thailand) Co., Ltd., subsidiary of the world’s leading beauty company, has recently released 2016 business performance outperforming market growth for the 5th year. With 123 million products sold across all categories, L’Oréal keeps its title of the fastest growing company with double growth rate compared to the industry, and also remains the leading player in the facial skincare segment.
Nathalie Gerschtein Keraudy, Managing Director of L’Oréal (Thailand), said, “Our group mission is to drive “Beauty For All” making beauty universal. Therefore, the company remains focused on providing all its customers with high quality cosmetic products that are safe, efficient and innovative. L'Oréal’s success is defined by its unique approach to the bright new world of beauty and is based on the following factors: clearly defined mission and strategy, highly engaged team of experts and a global portfolio of emblematic brands; long-haul investment in research and innovation, as well as implementation of digital technologies, corporate flexibility and agility - all backed up by strong entrepreneurial culture.”
Compared to last year, Thailand’s beauty market grew by 6.5 percent with a total value at 154 billion Baht. Makeup accounted for the fastest growth with 14 percent market share, an increase of 7 percent, while skincare remained the biggest contribution with 46 percent market share. Thailand’s beauty market is one of the largest markets in ASEAN and L’Oréal Thailand is one of the largest L’Oréal subsidiaries in this region. According to Euromonitor, The Asia Pacific region now represents almost a third of the global beauty and personal care market with developing markets, including Thailand, driving growth for the entire region.
In order to accomplish its business goals in 2017 and fulfil the ambition in becoming the Number One Beauty Company in Thailand, L’Oréal Thailand will focus on the four key areas: Consumer Centricity, Connected Beauty, Great Employer and Great Citizen.
Consumer centricity will play a vital role to achieve the company’s goal. Product innovation will remain the core of brand experience and will be further enhanced through different initiatives and platforms. Earlier this year, Lancôme launched its new counter concept, Parisian Apartment, which encapsulates the Lancôme DNA, blending modernity and French heritage. The new counter at Siam Paragon provides a convivial environment of free expression to play with textures and colors for its consumers to have a joyful time to experience and define their own vision of femininity.
Communications will be optimized to ensure that consumers make meaningful and lasting connections with the brand. L’Oréal will make use of various communication channels and approaches including airing of TVC campaigns targeted at different groups of consumers, strengthening partnerships with strategic content providers such as The Face Thailand, connecting with consumers through social media platforms and more.
“Early in 2017, our five brands, including L’Oréal Paris, Maybelline New York, Biotherm, Lancôme and Kiehl’s, launched their first LINE Official Accounts to connect with the Thai beauty community. A YouTube Channel for Maybelline New York, “Make Up My Way”, which is the first brand makeup channel, was also created. It provides real-life advice as well as creates excitement consumers want for makeup” summed up Nathalie Gerschtein Keraudy.
L’Oréal Thailand’s digital roadmap is in full swing as the company has recently appointed its first Digital Director who will lead digital transformation initiatives from the corporate level and animate digital community in L’Oréal Thailand which are more than 20 people. Last year alone, L’Oréal Thailand e-commerce sales rose by more than 169 percent, indicating that the company has strengthened its leadership in connected beauty and managed to develop personalised interactions with consumers.
Making L’Oréal a great place to work for all employees is still one of the top priorities. Learning and development programs will be conducted all year round with an increased focus on millennials who are the current drivers of ideas and innovations in the company. Local talents were promoted from the inside to become part of the country’s top management team exhibiting the company’s appreciation for loyalty and growing with the company.
Finally, L’Oréal’s “Sharing Beauty With All” program shows the company’s commitment to sustainability to drive sustainable innovation, production, living and development by 2020. The company has opened its Asia’s first LEED-certified Silver Level green distribution center, designed to reduce its environmental footprint in Thailand.
Many of its charitable contributions under “Sharing Beauty with All” will continue this year to share growth to the community such as “For Women in Science” that will celebrate its 15 years of making impact and empowering females in STEM, while “Beauty for a Better Life”, “Solidarity Sourcing” and “Bringing Hope to Moms” will increase its contribution to support more underprivileged beneficiaries this year.
“Despite volatile and uncertain economic context, L'Oréal Thailand is confident that it will once again outperform the beauty market in 2017 and achieve another year of sales and profit growth. We will work towards our vision in having at least one L’Oréal product in every Thai household,” confirmed Nathalie.