Maxime: Chinese Market Becomes the Inspiration for L'Oreal's Innovation

Idea Innovation + Local co-creation = Consumer-centered innovation.

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In the 25 years since its entry into China, L'Oréal has grown from zero to the largest beauty group in China today. And China, in turn, has become the second largest market for L'Oréal worldwide. In the words of Nicolas Hieronimus, Chief Executive Officer L’Oreal Group, "L'Oréal China has had an extraordinary journey over the past quarter of a century."

In an interview with CHAILEEDO, L'Oréal's President North Asia and CEO China, Mr. Fabrice, said that for L'Oréal, China is strategically important in terms of R&D innovation, beauty technology, sustainable development and talent. China is becoming the inspiration of L'Oréal's open innovation and the wind vane of global investment.

So, what will be the next phase of L'Oréal's journey? Maxime De Boni, Research & Innovation Vice President L’Oréal China, in a media conversation at the 25th anniversary exhibition, may give a glimpse of that.

(Maxime De Boni, Research & Innovation Vice President L’Oréal China)

A new era of innovation

Maxime said that L'Oréal China has currently evolved from the original ingredient and formulation innovation to a new era of innovation. It also developed five pillars of innovation, "Infinite Inclusion," "Green Science," " Augmented Beauty", "Open Innovation" and "Augmented Research".

First of all, L'Oréal found that the new generation of consumers is more focused on personalized expression and has a demand for a complete range of personalized products. L'Oréal wants to develop products that are not just for everyone but can offer different personalized solutions according to different consumers' understanding of beauty. Take the YSL ROUGE SUR MESURE as an example, it can print an infinite combination of shades according to the different preferences of each consumer helping consumers to achieve self-expression.

Secondly, L'Oréal is very concerned about green technology and has invested a lot of innovation in this field with the biggest project called "L'Oréal for Future". Previously, L'Oréal may have used petrochemicals for a large number of cosmetics, but now it has shifted to green organic plant ingredients. "Green science is undoubtedly a sure way forward, which is also in line with China's 2030 goal of carbon neutrality," Maxime added.

In terms of enhanced beauty, L'Oréal is focusing on new beauty technologies and empowering beauty expressions. One of L'Oréal's iconic products in beauty technology is the Lancôme Absolute Dual-LED Youth Treatment, which helps the skin to better diminish fine lines and wrinkles by combining gentle amber and infrared dual LED light waves with Lancôme serums. "So what we call enhanced beauty is that there's the addition of technology with the skincare products. " Maxime sums it up.

The other two points are Open Innovation and Augmented Research. It advocates co-innovation with other outstanding companies in the industry and enhances the speed and efficiency of innovation through digitalization and other means. L'Oréal hopes to better promote R&D capabilities through these two concepts.

What did localized innovation do for L'Oréal?

In 1996, the foundation of the L'Oréal factory was laid. A year later, with China's reform and opening up, the L'Oréal Group officially announced its entry into China setting up its China headquarters in China and opening branches in Beijing and Guangzhou. Some industry insiders comment that L'Oreal is one of the best localization among multinational beauty companies, how does L'Oreal maintain this advantage?

Maxime believes that L'Oreal's strength in the Chinese market cannot be achieved without the support of localization, which is because Chinese consumers have gone from being beauty followers to leaders. "Localization is one of the things L'Oreal has had to do. For example, the ingredient Pro-Xylane was invented by French scientists. But this product was first launched in the Chinese market because Chinese scientists developed a formula to strengthen the absorption and penetration effect of Pro-Xylane. That's why it was able to be a big hit in the Chinese market." Maxime said when talking about localization.

In addition, L'Oréal also mentioned that the Chinese beauty market has seen a very rapid development of the entire ecosystem of science and technology innovation, including these hard sciences of technology itself in recent years. Maxime commented that this is largely related to the government's support, which has invested much in R&D, especially in fostering some eco-innovation systems.

Maxime added that Chinese consumers' needs are very diverse and discerning. So L'Oréal's innovation for Chinese consumers can be a source of product innovation for consumers in other regions. China has become an inspiration for innovation for L'Oréal, and products that satisfy Chinese consumers can easily be rolled out to other regional markets.

"The success here is a result of L'Oréal's efforts together with our partners. It is also a result of open innovation. But in any case, these beauty innovations generated in China are inspiring the world's beauty development. At the same time, world beauty innovations are supporting the development of the Chinese market. Our most important purpose is to bring the best technology to consumers and bring them the highest quality products." Maxime believes.

As a senior industry insider said, L'Oreal has witnessed Chinese beauty consumers and the Chinese beauty market grow from zero to become a trendsetter influencing the world. China has also witnessed L'Oreal grow from one of the many foreign beauty companies entering the Chinese market to become the number one beauty company and the number one benchmark for local Chinese beauty companies to catch up with.

L'Oreal's journey in China is continuing and moving forward.