L’Oréal Paris, one of the world’s biggest beauty brands has officially launched into the Kenyan market as it expands its footprint in the beauty market with the introduction of a wide range of products specifically catered t the Kenyan market. L’Oréal which prides itself as pioneering in beauty science, Parisian and a feminine brand that empowers women through its famous slogan “Because you’re worth it,” says rising customer demand for luxury but affordable beauty and personal care products is behind its entry into Kenya to better meet the requirements of the market and grasp local opportunities.
“L’Oréal Paris brings to the market quality, effectiveness, and innovation in a country with a growing consumer base but still a huge number of potential consumers that largely remain untapped,” said L’Oréal East Africa Managing Director Serge Sacre.
The brand has announced the availability of its top-rated Revitalift Filler Range, targeting different skin types. The product has been developed to protect users’ skin against sun damage and fine lines while promoting a healthy and youthful glow. L’Oréal is banking on its research and development center to come up with products according to local preferences. L’Oréal currently invests 4% of its revenue in research and development.
Sacre added the market has the potential to move from its current 30% penetration to a value of a billion dollars in five years from its current estimated value of $200 million.
L’Oréal has a presence in 140 countries and over 85,400 employees.
The global anti-aging products market size valued at $ 40.49 billion in 2020 is projected to expand at a compound annual growth rate (CAGR) of 5.4% from 2021 to $ 60.26 billion by 2028, according to a report by research firm, Grandsview.
Growing awareness among consumers on age-related skin problems such as fine lines, wrinkles, and dullness of skin, coupled with an increasing propensity to spend on products that help them to proclaim their skin youthfulness, the research firm said will drive the market demand throughout the forecast period.
The Nairobi launch brought together industry experts including scientists, dermatologists, distributors, and celebrities.
About L’Oréal
For over 110 years, L’Oréal, the world’s leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. L’Oréal is the manufacturer of Kenya’s Number 1 body lotion Nice & Lovely. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous, and committed to social and environmental sustainability.
With our broad portfolio of 35 international brands and ambitious sustainability commitments in our L’Oréal for the Future program, we offer every person around the world the best in terms of quality, efficacy, safety, sincerity, and responsibility, while celebrating beauty in its infinite plurality.
With 85,400 committed employees, a balanced geographical footprint, and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2021 the Group generated sales amounting to 32.28 billion euros.
With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 3,000 tech professionals, L’Oréal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse.
More information on https://www.loreal.com/en/mediaroom
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