L’Oréal Signs a New Strategic Cooperation Agreement with Alibaba
- Chaileedo Press
- Apr 7, 2023
- 2 min read
Updated: Apr 7, 2023
According to the strategic cooperation memorandum, the two companies will collaborate on low-carbon commodities, low-carbon logistics, low-carbon marketing, and consumer education.
On April 6th, Alibaba Group and L’Oréal Group signed a strategic cooperation agreement to jointly create the industry's first "Beauty Digital Circular Economy Model", focusing on green and low-carbon new standards, new products, and new consumption concepts.
According to the strategic cooperation memorandum, the two companies will collaborate on low-carbon commodities, low-carbon logistics, low-carbon marketing, and consumer education. Innovate green commodity supply based on digital technology, explore full chain solutions for green recycling such as warehousing, packaging, distribution, and recycling, and advocate sustainable lifestyles among consumers to enhance their awareness of green consumption.
A year ago, Alibaba and consumer brands jointly launched the "Carbon Reduction Friendly Action" initiative. Currently, 24 companies have participated, including L’Oréal and Danone from France, to jointly promote green consumption.
Zhang Yong, Chairman and CEO of Alibaba Group, believes that Chinese and French companies see the same digital and intelligent future. In the field of cloud computing, facing the global digitization process, Alibaba Cloud is deeply cooperating with many French enterprises in terms of comprehensive cloud technology architecture, big data platform construction, intelligent carbon reduction, and supporting their digital business development in the Asian and European markets.
“In the winter of 2022, Alibaba, as the official partner of the Olympics, successfully supported the comprehensive cloud launch of the core system of the Beijing Winter Olympics, achieving a green Olympics,” Zhang Yong said, “We are very looking forward to 2024, the historic moment of the 60th anniversary of the establishment of diplomatic relations between China and France, to support the Paris Olympics through digital measures."
It is worth mentioning that in 2022, L’Oréal led the establishment of the EcoBeautyScore alliance and established a Product Impact Labeling system (PIL) to conduct a quantitative analysis of product sustainability. Over the past year, L’Oréal has been continuously communicating with the government and relevant institutions to analyze the current situation of sustainable development in the Chinese consumer market and promote the implementation of labels in China. In 2023, L’Oréal will introduce this label to Asia, with China being the top choice in the region.
In addition, in the 2022 financial report, L’Oréal China's online channels achieved double-digit growth, especially in the 2022 Double Eleven, where its offline and online market share achieved strong growth. Among them, L’Oréal brand ranks among the top in multiple beauty categories on Tmall. L’Oréal stated, "In China, the luxury division surpassed 30 percent market share in 2022.”
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