Seeking growth in emerging markets L'Oreal wants to buy Indian brands

L'Oréal, the world's largest cosmetics company, is seeking to acquire a skin care brand in India to adapt to meet changes in global consumer preferences and promote its exotic cosmetics line.

On Wednesday, Mr. Jean-Paul Agon, CEO of L'Oréal Group, said in an interview that he is full of confidence in the acquisition of Indian brands. He said that the company is very interested in introducing the beauty of Indian characteristics to the public. He also said that L'Oréal has been seeking to acquire potential brands and develop new product lines, which is different from other companies in the industry.

An Gong also pointed out that the next three years are very critical for L'Oreal's Indian subsidiary. He believes that this period will usher in a big growth for the company.

Yesterday, the company also released its net profit for 2006 for the year ended December 31st, achieving a net profit of 2.061 billion euros, a year-on-year increase of 4.5%, and a profit increase of 11.9% year-on-year, achieving the company's "double-digit profit in 2006". The goal of growth.

The company stated that all its departments and all markets have grown during this fiscal year. An Gong said that emerging markets have made a "constant, historic" contribution to L'Oreal's performance.

Although this performance is not much different from the company's estimates, it is still lower than analysts' expectations for their profits and stock prices. In this regard, An Gong said that the company will not be affected, he is very satisfied with the company's performance, which also brought hope for 2007.

An Gong said that the strong growth at the end of last year enabled the company to successfully achieve its full-year growth target for 2006. Among them, the renewed vigour in Western Europe and the performance of the Brazilian, Russian, Indian and Chinese markets are the main reasons for the successful realization of the target. The good performance of the Group's Body Shop in July of last year has strengthened the group's growth.

Earlier this month, L'Oreal Group announced that last year the company completed a global sales of 15.79 billion euros, an increase of 8.7% over the previous year, and successfully achieved its annual sales target. Among them, the increase in the fourth quarter reached 9.5%.