The company sees good potential for growth in the domestic cosmetics market. The market size for professional skin and hair care is estimated to be at Rs 2,500 crore in urban India and it is growing at about 15 percent Y-o-Y basis, Aseem Kaushik said.
L'Oreal India, part of the euro 21 billion L'Oreal SA, today said it expects 10-15 percent growth in the Indian market.
"Our turnover stood at Rs 1,600 crore in 2012. We expect double digit growth of 10-15 percent in the Indian market," L'Oreal India Head, Professional Products Division, Aseem Kaushik told PTI.
The company sees good potential for growth in the domestic cosmetics market. The market size for professional skin and hair care is estimated to be at Rs 2,500 crore in urban India and it is growing at about 15 percent Y-o-Y basis, he said.
L'Oreal Professional Products category offers various brands in skincare, Kerastase, and Matrix. These have about 400 products in total, which are sold through salons. Under the skincare brands category it offers luxury brand - Keraskin and the recently acquired Cheryl's brand. Cheryl's Cosmeceuticals had a distribution network spanning over 10,000 salons in India and a turnover of approximately Rs 20 crore in 2012. It has a very wide product range under its umbrella from skincare, body care, lip care and anti-acne products to waxes, facial kits, sunscreen and fairness creams.
"Following the acquisition, Cheryl's, a homegrown brand, will soon be available not only at L'Oreal's 35,000 salons in India, but also in Sri Lanka, Nepal and Bangladesh," Kaushik said. L'Oreal trains about 1,25,000 hair-dressers every year at its salons and at 60 of its academies and studios across the country, he revealed.
Kaushik pointed out that the biggest challenge in the Cheryl's rollout was training people to use the products as it is a professional cosmetics range.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.