Thanks to growing disposable incomes and growing consumer demand for luxury goods, Kaushik wants to take growth to the next level. In an exclusive interview with TOI, he said the task is to turn L’Oréal India into a 1-billion-euro company in the next three to four years – a target that requires the company to grow in double pace of the country’s growth. the Indian beauty market. ‘We estimate that India beauty market should grow at a CAGR of 9-10%. The plan is to grow at double the pace,” said Kaushik, who returned to India as MD in January after his assignments abroad.
“Nearly 25% of L’Oréal’s growth contribution comes from emerging markets. India, which leads this pie, is the harbinger of keeping L’Oreal’s flag flying high in the emerging markets world,” it added he added.
In the thirty years since L’Oréal set foot in the country, much has changed in the beauty and personal care market. Segments like hair color have become larger categories, with hair accounting for nearly 46% of the total weight of the $10 billion pure play beauty market. However, the components of this 46% have changed over the years: hair care now amounts to approximately 20%, hair oil 16% and hair color 10%. The skin remains relevant and large at 30%, while hygiene is at 7% and fragrance at 2%. What has expanded significantly is makeup, which makes up almost 15% of the market.