THE WHAT? L’Oréal has chosen Singapore as its headquarters for the new South Asia Pacific, Middle East and North Africa (SAPMENA) zone, according to a report by Marketing Interactive.
THE DETAILS Vismay Sharma, who joined the Group in 1994, has been named as the President of the region.
The creation of the SAPMENA zone is to enable future growth for L’Oréal and is part of its consumer acquisition plan. The region is said to have seven of the eight millennial hubs within it.
THE WHY? The beauty company is said to have chosen Singapore as its HQ location due to its strategic location within SAPMENA.
Shelly Chang, the new CMO for the region, said, “Our expansion in Singapore allows us to be strategically located in one of the world’s most innovative ecosystems. This will strengthen our culture of innovation as we capitalize on emerging tech to transform our consumer reach, while also attracting the best talent and partners.”
Discussing the importance of the new zone, Sharma said, “The new geographic zone SAPMENA is where the future of beauty will be shaped, with many of the world’s fastest-growing economies and populous markets in the region.”