L'Oréal Co. (LRLCY.PK), at a press conference held today in Shanghai, reaffirmed its commitment to developing the luxury beauty market in China. The market leader and pioneer in luxury beauty in China laid out its plans for attracting the next generation of Chinese luxury consumers, namely with the launch of game-changing innovations like the launch of instrumental beauty leader, Clarisonic, in January 2013 and the highly anticipated opening of the new Yves Saint Laurent Beauté boutique in May 2013.
L'Oréal Group's Chairman and Chief Executive, said: "Chinese consumers are at the heart of L'Oréal's focus and energies. A potential 250 million new Chinese consumers will be using L'Oréal's products in the next 10 to 15 years, making China the number one contributor to our ambition of winning 1 billion new consumers and to our strategy of universalization. A significant portion of these consumers will be recruited by our Luxe brands, the segment where L'Oréal has historically led the market and where it will continue to influence the shape of its future."
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