Headquartered in Shanghai, L’Oréal China has one Research & Innovation (R&I) centre and five offices across the country, and currently houses 32 brands.
The company recently held its 2024/2025 Annual Results Press Meeting, where its strategies for strengthening growth in the Chinese market were highlighted.
“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.
“With a long-term commitment, we will continue to deepen our presence in China, seizing opportunities from the beauty industry’s socio-economic impact, enhancing our proximity to Chinese consumers, and elevating the game with strategic investments,” said Vincent Boinay, President of L’Oréal North Asia Zone and CEO of L’Oréal China.
Amid global economic uncertainties, Boinay reaffirmed L’Oréal’s confidence in China’s cosmetics market, driven by beauty’s stronger-than-ever relevance to the Chinese society.
Despite challenging market conditions in 2024, L’Oréal China has maintained its position as the top beauty group in the country, propelled by four key business divisions — L’Oréal Paris, Lancôme, and Kérastase respectively lead in mass beauty, luxury beauty, and hair care, while L’Oréal Dermatological Beauty captured the largest market share.
According to Laurence Ma, Deputy CEO of L’Oréal China and General Manager of Luxury Division, the company “fully leverages” deep consumer insights to upkeep a consumer-centric approach.
This approach includes targeting diverse consumer groups, such as Gen Z, boomers and men; sharpening portfolio by introducing “highly promising” brands, such as Miu Miu and Dr.G, and crafting brand personas for all 32 brands; upgrading hero products, developing breakout hits, and inspiring global innovation; advancing omni-channel footprint, expanding penetration in lower-tier cities, and attracting new retail customers with aspirational experiences and professional partnerships.
Based on a “people-first” belief, the company aims to build a multi-generational management team, and enhance its reputation among both employees and the public.
“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 dedicated to bringing the best beauty products and services to China’s savvy and sophisticated consumers, fulfilling their ever-growing aspirations for beauty,” Ma added.
Fostering growth in China and beyond
In 2024, L’Oréal expanded its presence in the Chinese market through investments, including the opening of the group’s first smart fulfilment centre in Suzhou to meet rising e-commerce demand with greater operational resilience and capability.
The company also invested in Yesskin to seize new opportunities in the expanding aesthetics sector, as well as in Longevity Integrative Science to create groundbreaking products like Cell BioPrint, a tabletop device that provides personalised skin analysis in just five minutes, and Lancôme Absolue Longevity Cream, which is designed to reduce signs of ageing.
To solidify the strategic importance of China and lay the foundation for future growth, L’Oréal will continue its Beauty Stimulus Plan, expanding investment in several areas.
For instance, the company will advance science across all beauty categories and drive end-to-end innovation via its R&I centre in China, which celebrates its 20th anniversary this year.
Additionally, the 2025 BIG BANG Beauty Tech Innovation Program has introduced a new sustainability track and is emphasising artificial intelligence (AI) as a transversal focus across all tracks.
L’Oréal China is also in discussions with e-commerce major JD.com to promote sustainable consumption and lifestyle, while its “For Girls in Science” programme hopes to encourage females to pursue scientific careers through global exchange opportunities.
At the same time, it is collaborating on a socio-economic study on beauty with partners like China Association of Fragrance, Flavour and Cosmetic Industries (CAFFCI), and co-developing a cultural partnership with the National Museum of China.
The 2025 Youth Fun, L’Oréal China’s flagship youth empowerment programme, kicked off last week with three newly upgraded tracks, including a beauty-tech hackathon for university students.
Furthermore, the company has established two investment funds dedicated to supporting burgeoning Chinese beauty brands and related companies.
Specifically, the first fund is launched in partnership with Cathay Capital and the Jing’an district of Shanghai, and will focus on investing in growth-stage brands and businesses.
Managed by Tiantu Capital in collaboration with BOLD, L’Oréal’s venture capital fund, the second fund aims to invest in early-stage companies within the beauty sector.
