L’Oréal China: 27% Sales Growth, 60% from E-commerce, IT Cosmetics Will enter Chinese Market

On March 29, 2021, L’Oréal China held the 2020/2021 development strategy annual communication meeting in Shanghai “BEAUTY HUGEVOLUTION,”. L’Oréal China announced its results of 2020 and the decision to set Shanghai as the headquarters of L’Oréal’s North Asia. 2020 is the year of the outbreak of COVID 19, beauty company in worldwide may suffer the same consequences that losing sales or breakdown of business in a couple of months. However, L’Oréal China breaks the trends and drives the total sales up to 27% growth. Fabrice Megarbane, the CEO of L’Oréal’s North Asia said in his speech, L’Oreal Group decided to…

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