Jan 12, 2013: L’Oreal, the French cosmetic giant which has a good presence in India is planning for some expansion plans in 2013. The company is all set to pump in Rs.970 crores in India as part of expansion a market which it considers to among the top five in the world. Indian market, as of now contributes 1% to the total revenue of L’Oreal which is valued at over 20 billion. L’Oreal as part of its expansion plans is planning to set up innovation centers and open more factories in India. The company is also mulling to buy an Ayurveda brand so as to increase their revenue which is Rs.1580 crore now to Rs. 7,000 crore by 2020. L’Oreal is trying to cash in on the acceptance of Ayurveda in India and has followed similar strategies in other market as well. L’Oreal acquired Shu Uemura the Japanese cosmetics brand and Yue-Sai, Chinese cosmetics brand as part of localisation. Considering the importance of the Indian market, the company launched a research innovation centre in Mumbai and with that India became the sixth regional research hub in the world.
