L’Oréal Thailand is aiming big and has set its sights on becoming the number one beauty company in Thailand with one of its products on every bathroom shelf in the nation, according to a report published by The Nation. And if 2017’s performance is anything to go by, the company is well on its way to achieving that goal. The company revealed that it has outperformed the market for the sixth consecutive year and unveiled its strategy for 2018.
The Thai beauty market grew 7.8 percent in 2017 and is one of the largest in the ASEAN region. Skin care continues to be the largest category overall, although make-up is enjoying buoyant growth. The French beauty giant’s Thai subsidiary continues to be the leading facial skin care brand nationwide.
“More than ever before, L’Oréal has the best advantages in terms of innovation, quality standards and digital prowess to build long-lasting and meaningful bonds with our consumers. 2017 was especially notable for the accentuation of our digital edge,” Nathalie Gerschtein Keraudy, Managing Director of L’Oréal Thailand told The Nation.
Next year the company will usher in two important additions to its Thai portfolio: Giorgio Armani beauty and derma skin care line CeraVe. The French beauty behemoth is also committed to accelerating its digital presence, having signed up to new e-tailers Konvy and Orami over the course of the last 12 months as well as social commerce in Line@ and Craze and the launch of dedicated e-boutiques for Lancôme, YSL Beauté and Biotherm.
“e-commerce is a very fast growing channel and L’Oréal Thailand is committed to take a large part of it. We have been growing our e-commerce business in multiple ways to ensure that we are a step ahead of market trends and are present at every single step of the consumer journey including strengthening our leadership in connected beauty and managing to develop personalized interactions with consumers,” said Keraudy.