L’Oréal Pledges More Investment in China

L’Oréal SA, the world’s biggest beauty company, said the potential of the Chinese market is huge and it intends to increase investment in the country.

China has become L’Oréal’s second largest market, with a 5.4% increase in sales last year. The group reported Thursday that its sales in China grew 6.2% year-on-year in the first quarter.

L’Oréal has reached 100 million customers in China, but the potential is there to reach 500 million in the future, said Vincent Boinay, Chief Executive Officer of L’Oréal China.