L’Oréal announces plans to acquire Indian beauty brands and startups
Date: 2019-11-25   Author: Pankaj Singh  Category: #news

L’Oréal announces plans to acquire Indian beauty brands and startups

L'Oréal S.A., a French cosmetic company, is reportedly planning to acquire startups and brands that are operating in the India’s beauty-tech space. According to L’Oréal’s Chairman, Jean Paul Agon, their Indian unit has consistently positioned itself as the fastest growing subsidiaries in the last two years.

He said that their firm is looking for opportunities and is actively scouting for acquisitions in India, in all types of beauty products. Also, in a bid to seek new startups, their company has invested in an early-stage investment fund, Fireside Ventures, which is focused on Indian consumer brands.

Adding further, Agon said that L'Oréal is trying its best to identify businesses that it can co-own and develop in beauty and beauty-tech.

When asked about the effects of the slowdown in India, the chairman replied that India is one of the top four strategic countries for L’Oréal worldwide. The company has made a good presence among mid-teens in the region. Moreover, they are confident that their firm will achieve similar growth this year too.

Recently, in a move to appealing online customer experience, L’Oreal started to use various CRM solutions and cloud-based enterprise from Salesforce. The cosmetic company revealed that this would simplify the overall online experience and help customers to discover, buy or share beauty products.

According to reliable sources, L’Oréal’s subsidiaries such as Lancôme, Yves Saint Laurent Beauté and Kiehl’s utilize Salesforce modules like Community Cloud, Commerce Cloud, Marketing Cloud, Einstein Analytics, Service Cloud, Success Cloud, and Sales Cloud.

Apparently, L’Oreal is running the Salesforce technology in over 150 e-commerce sites from 63 global markets, and in several customer service units from over 10 countries. Sources cite that all this digital transformation has sprung L’Oreal’s e-commerce revenue by 48.5% in the Q1 of 2019.

Sources Credit: https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/loral-looking-to-acquire-beauty-brands-startups-in-india-jean-paul-agon-chairman/articleshow/72215721.cms



About Author


Pankaj Singh

Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

Read More

More from Pankaj


Post Recommendents

Nomura Holdings to acquire U.S. M&A firm Greentech in US$92m deal
Author: Pankaj Singh

Nomura Holdings, a financial holding company in Japan, has recently announced that it will buy Greentech Capital Advisors, a mergers and acquisitions advisory company from the U.S. that specializes in renewable energy. This will be the company&rsq...


Perfect Day raises $140 Mn in a Series C funding round led by Temasek
Author: Saipriya Iyer

Perfect Day, a US-based food technology startup that has innovated new processes of creating dairy products by using casein, reportedly announced that it raised $140 million in a Series C funding round. This investment...


Current Health raises $11.5 million in Series A funding round
Author: Pankaj Singh

Current Health, a renowned New York based universal patient management platform, reportedly announced that it has closed a $11.5 million Series A funding round which was co-led by UK based MMC Ventures.