(Yicai Global) Dec. 19 -- China’s anti-aging market may be the most attractive globally, according to Maxime De Boni, research and innovation vice president of French cosmetics giant L’Oréal in China and North Asia.
More young people in China are paying attention to anti-aging and Chinese consumers generally are becoming very professional and have high standards over efficacy, quality and safety, De Boni told media outlets, including Yicai Global, at L’Oréal China’s 25th anniversary exhibition on Dec. 16.
As Chinese consumers become more professional and demanding, China has turned into an innovation powerhouse for other markets. The Chinese consumer’s growing influence means China’s beauty market is no longer a follower but a change maker and leader in certain areas, he noted.
“In recent years, China is rapidly emerging as a trendsetter in Asia and globally, as well as an important driver of disruptive innovation,” said L’Oréal Group Chief Executive Nicolas Hieronimus.
L’Oréal China Vice President Ma Xiaoyu pointed out that the company will focus on the urban “silver-haired.” She believes that today’s middle-aged women, who tried skincare products when they were young, will not forget to treat themselves well when they grow older. It is a phenomenon not seen in the past decade or two.
“Young people are constantly entering the market, but we still believe that this future urban silver-haired group is very promising, thus focusing only on Gen-Z may cost us some consumers,” she added. “The future urban silver-haired is a huge direction for us, a gold mine that many brands are not aware of yet and urgently needs our attention.”
L’Oréal entered the Chinese mainland in 1997 and set up its China headquarters in Shanghai. Today, China is L’Oréal’s second-largest market. Last year, L’Oréal China was upgraded to the headquarters of the beauty products golden delta in North Asia, covering the three major Asian markets of China, Japan and South Korea.
Editor: Peter Thomas