10 – 'Brand first, products second': L’Oréal APAC boss stresses importance of brand trust in times of crisis - Exclusive
The COVID-19 pandemic pushed French cosmetics conglomerate L’Oréal Group to find innovative ways to reinforce the trust relationship between its brands and consumers, a leading executive told us in an exclusive interview in September.
Jochen Zaumseil, executive vice president of APAC, L’Oréal Group, stressed that a brand’s trustworthiness becomes vital during periods of upheaval as consumers are more likely to fall back on the steadfast and dependable.
“Very often, a crisis is also about a crisis of trust. Do you trust the authorities, the current economy – do you trust the brands? Brands with strong trust relationship are growing stronger than the others, it’s a natural thing,” Zaumseil told CosmeticsDesign-Asia.
Zaumseil had observed the steady growth among L’Oréal brands that were perceived to have high trustworthiness among beauty consumers.
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