French beauty giant L’Oréal has suggested that it’s significant investment into digital will help spell success for the company in 2016.
In fact, such is its focus on the digital arm of its business, CEO Jean Paul Agon has stated that the e-commerce arm of the business needs to be a main focus, rather than a peripheral revenue steam.
Speaking during an analyst Q&A Agon stated, “Across all brands in functions we continue also to drive our digital transformation at full-speed. Digital now amounts to 30% of our media. And E-commerce growing at plus-33%, it’s close to 6% of total group sales.
“Our confidence for 2016 is also routed in our digital edge, with our strategically centralized, yet operationally de-centralized agile approach, we are moving forward fast. We now have more than 1,400 digital experts on board, driving our transformation with up-skill teams. More than ever, we can build empathy with consumers and do what we do best, invent the beauty products of tomorrow.”
The positive outlook follows a lacklustre performance to the quarter ending June 2016, which was put down to a poor performance in France.