L'Oréal Group to expand further in China
Jean-Paul Agon, chairman and CEO of L’Oréal Group, told reporters on Friday that its previous achievements are "not yet at all at the end of our expansion in China."
He was speaking during an online interview as part of a series of virtual talks at the China International Import Expo with representatives unable to visit China due to COVID-19.
"By combining a large active market with a dynamic and start-up friendly ecosystem, China is incentivizing innovation and becoming a magnet for pioneering talent," he said.
Serving as the first rotating chairman of the Enterprise Alliance Council, as well as chairman of the Special Committee for Consumer Goods Industry, the world's biggest beauty group is also supporting French companies to participate in the CIIE.
In the third quarter, sales of L’Oréal China maintained strong momentum.
Agon said although the pandemic had forced stores to shut in most of the country, he did not see any decline in demand for beauty products.