According to L’Oréal CEO Jean-Paul Agon; 'despite a global context that is still volatile’ the company remains confident in its third quarter results despite them revealing a slowdown for L’Oréal Luxe in Asia.
Cosmetics giant AmorePacific is looking to expand its business beyond Asia in new regions like the Middle East and Latin America with five of its popular brands - Sulwhasoo, Laneige, Mamonde, Innisfree and Etude House.
A dynamic population seeking tailored solutions is boosting the cosmetics market in Turkey and the Middle East and many global brands are making the most of the region’s growth, according to market researcher Euromonitor.
With emerging markets slowing down, attention has turned to core businesses and untapped markets such as Indonesia, Saudi Arabia, and Turkey. Cosmetics Design caught up with Euromonitor to discuss new growth hot spots.
Beauty behemoth L’Oréal invested €50 million in its first factory at the heart of the Arab World, located near Cairo in the Pyramids Industrial Park of 10th of Ramadan, as it looks to meet the rising demand for products in the region.
While there may be slight growth in palm oil exports in Indonesia it is not expected to be significant as markets are weak and prices could remain low, according to the Indonesian Palm Oil Producers Association (Gapki).