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Barbara Lavernos will head the new expanded travel retail division |
In major breaking news, the L’Oréal Group today announced the creation of an enhanced, expanded Group Travel Retail Division.
L’Oréal, the market leader in the travel retail beauty sector, said that the new division will include the L’Oréal Luxe brands, as well as brands from the other divisions: Active Cosmetics, Professional Products, Consumer Products and The Body Shop.
L’Oréal is aiming to win over a billion new consumers with its “˜universalization strategy’, which seeks to meet the diverse beauty needs of male and female consumers around the world.
L’Oréal said: “Travel retail”¦ plays an essential role in this strategy as it is a dynamic market. The democratisation of travel, especially in emerging countries, has led to an increased number of consumers searching this channel for a full selection of products that correspond to their beauty aspirations, whatever their nationality, beauty rituals or purchasing power.”
L’Oréal Group Chairman and CEO Jean-Paul Agon said: “Travel retail is a key channel for winning over one billion new consumers. This market, present around the world, could be considered as a “˜sixth continent’.
“L’Oréal already has extensive expertise and strong relationships with client retailers, and has high ambitions for the future of the channel.”
Barbara Lavernos, Managing Director of L’Oréal Group Travel Retail, will head the Group Travel Retail Division Worldwide, and will report to Nicolas Hieronimus, President of Selective Divisions.
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Jean-Paul Agon: “Travel retail is a key channel for winning over one billion new consumers” |
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Nicolas Hieronimus: “The creation of the new Group Travel Retail Division demonstrates our confidence in the huge potential of this channel” |
Hieronimus said: “The creation of the new Group Travel Retail Division demonstrates our confidence in the huge potential of this channel. From now on, all of the group’s major brands will have the opportunity to develop on this “˜sixth continent’.”
A pioneer in the travel retail market since the 1960s, L’Oréal Luxe is today the world leader in the sector. The Consumer Products Division has also taken an important position thanks to L’Oréal Paris, the world’s number one beauty brand.
Ms Lavernos told The Moodie Report: “It’s a big change, because it represents the creation within the L’Oréal Group of an entire division [as we have for] major regions such as America or Asia.
“Travel retail will therefore be at this level within our organisation”¦ and that is the reward and the recognition of this strategic travel retail channel, right from the top of our company.”
Earlier this year, during a key media conference in Hong Kong , Ms Lavernos referred to the travel retail channel as a “sixth continent” with a “population” of 4.8 billion [travellers] and over 11 billion by 2030.
Commenting on the new travel retail structure, she reaffirmed that message, telling The Moodie Report: “Today is a recognition of the importance and the strategic value of travel retail.
“There is no doubt that in the eyes of the top management of L’Oréal, travel retail is seen as one of the biggest, most dynamic markets and providers of additional consumers for the future.”
L’Oréal identified the scale of the opportunity citing Generation figures that suggest the travel retail market will double in value to more than US$100 million in the next ten years. Last year L’Oréal commanded a 21.6% share of the travel retail beauty market.
Look out for comment and more from Barbara Lavernos in today’s edition of The Moodie Report e-Zine, plus a major interview wth both Nicolas Hieronimus and Barbara Lavernos about the group’s approach to travel retail in coming days.
FOOTNOTE: Barbara Lavernos, speaking in her new capacity, will be one of the lead speakers at The Trinity Forum 2014 to be held in Bangkok on 26-28 February, hosted by King Power International Group of Companies. Registration and programme details will be released in coming days.
