The L’Oréal group, the historic market leader in the Travel Retail beauty segment, announced today that it is creating a Group Travel Retail Division. The new division will include the L’Oréal Luxe brands, as well as brands from the other divisions: Active Cosmetics, Professional Products, Consumer Products and The Body Shop.
L’Oréal is aiming to win over a billion new consumers with its universalization strategy, which seeks to meet the diverse beauty needs of men and women around the world.
Travel Retail, which represents all products sold in the travel distribution channel (airports, airlines, ferries, cruises, downtown duty-free shops, etc.), plays an essential role in this strategy as it is a dynamic market. The democratisation of travel, especially in emerging countries, has lead to an increased number of travellers and thus consumers who today are searching in this channel for a full selection of products that correspond to their beauty aspirations, whatever their nationalities, beauty rituals or purchasing power.
Jean-Paul Agon, Chairman and CEO, L’Oréal Group said "Travel Retail is a key channel for winning over one billion new consumers. This market, present around the world, could be considered as a “sixth continent.” L’Oréal already has extensive expertise and strong relationships with client-retailers, and has high ambition for the future of the channel.”
Barbara Lavernos, Managing Director of L’Oréal Group Travel Retail, will head the Group Travel Retail Division Worldwide, and will report to Nicolas Hieronimus, President of Selective Divisions.
For Nicolas Hieronimus, “The creation of the new Group Travel Retail division demonstrates our confidence in the huge potential of this channel. From now on, all of the Group's major brands will have the opportunity to develop on this ‘sixth continent’".
A pioneer in the Travel Retail market since the 1960s, L’Oréal Luxe is today the world leader in the sector. The Consumer Products Division has also taken an important position thanks to L’Oréal Paris, the world’s number one beauty brand.
The Division will be based in the Paris suburb of Levallois.
Key Figures for Travel Retail in 2012 (Source: Panel Generation)
- The 2012 global Travel Retail market (includes all sectors): US $55.8 billion (up 9.4% vs 2011).
- The market should double over the next 10 years to over US $100 billion
- L’Oréal is the historic market leader in Travel Retail beauty
- L’Oréal's Travel Retail market share was 21.6% in 2012
L'Oréal, the world's leading beauty company, has catered to all forms of beauty worldwide for over 100 years and has built an unrivalled portfolio of 28 international, diverse and complementary brands. With sales of 22.5 billion euros in 2012, L'Oréal employs 72,600 people worldwide. In 2013, the Ethisphere Institute, a leading international think-tank for business ethics, corporate social responsibility and sustainability, recognized L'Oréal as one of the World's Most Ethical Companies. This is the fourth time that L'Oréal has received this distinction. www.loreal.com
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