"One L'Oréal" Strategy to Captivate Consumers

 L'Oréal Affirms Leadership in Dynamic Beauty Market, Launches One L'Oréal Strategy to Captivate Consumers and Elevate Employees as the World’s No. 1 Beauty Company

L'Oréal Groupe in Thailand announces the prevailing trends in the global beauty market of 2024, showcasing sustained growth. Achieving a landmark growth rate of 11% over the previous year, L’Oréal’s global operations in 2023 marked a historic achievement in two decades, with sales soaring to EUR 41.18 billion, reinforcing its status as the world’s No.1 beauty company.

To foster continued growth in Thailand, the company introduces One L'Oréal strategy, aimed at nurturing a dedicated team to develop beloved beauty brands that connect with consumers and furthering social and environmental objectives through “L'Oréal for the Future” – the Groupe’s sustainability commitment.

The global beauty sector witnessed an 8% growth in 2023, with L'Oréal Groupe celebrating its third consecutive year of double-digit expansion. Thailand beauty market reflected this trend with a 12% increase, reaching a notable THB 285 billion in the beauty and personal care industry.

Skincare led the market with THB 113 billion, followed by haircare at THB 39 billion, makeup at THB 22.7 billion, and fragrances at THB 10.2 billion. L'Oréal Thailand plays a pivotal role in the SAPMENA region (South Asia Pacific, Middle East, and North Africa), outperforming the market with significant growth, while the entire SAPMENA region experienced a 23.2% surge.

With the goal to transform Thailand’s beauty landscape through its diverse portfolio of 15 brands across Thailand, Myanmar, Laos, and Cambodia, L'Oréal has embarked on the ambitious One L'Oréal strategy. This strategy focuses on personnel development, business operations, and sustainability practices, ensuring alignment across all business divisions and central operations for sustainable market growth.

People 1st prioritizes employer branding and talent pipeline, bolsters workforce resilience and excellence, nurtures leadership and synergy at every level, ensures individualized career development for key contributors, and fosters a work culture that values employee recognition and well-being.

#1 Beauty Company strives to create beloved brands, highlight expertise in cutting-edge research, and attract new consumer demographics with innovative products and customized experiences to meet diverse needs. This approach seeks to identify growth opportunities through a strong brand portfolio and comprehensive marketing strategies.

One Loved Company leads impactful social and environmental initiatives at both the brand and corporate levels, closely aligning with sustainability goals for 2030. As a sustainability pioneer, L'Oréal operates with a vision and Sense of Purpose to create the beauty that moves the world.

F1t for the Future drives the company and its employees towards readiness and skill development for upcoming challenges, employs data and AI for efficient analysis and agility, and sets new standards for the work environment, reflecting its status as a beauty tech leader in the dynamic beauty industry.

Patrick Girod, CEO of L'Oréal Thailand, Myanmar, Laos, and Cambodia, reflected, “2023 was another positive year despite the intense competition and challenges in the dynamic beauty market. L'Oréal Groupe in Thailand has consistently showcased its prowess and leadership across diverse market segments despite the heightened competition and evolving consumer demands for innovative beauty solutions."

"Under the One L'Oréal strategy, L'Oréal will continue to propel all four business divisions, particularly skincare and makeup products, maintaining their popularity in all market segments both online and offline. Recognizing that sustainable success hinges on a strong team, L'Oréal is dedicated to developing well-rounded employees, enhancing their potential and engagement within the organization, integrating technology to optimize work processes, and creating an inspiring and efficient workspace.” said Patrick Girod

Furthermore, L'Oréal Groupe is committed to addressing environmental concerns and adhering to its “L'Oréal for the Future” sustainability commitment.

In 2024, L'Oréal Groupe in Thailand plans to reduce product wastage, mitigate carbon emissions, and undertake meaningful social initiatives. In 2023, L'Oréal Groupe in Thailand led initiatives to foster employment for women, training over 100 Thai women in professional hairstyling skills in BEAUTY FOR A BETTER LIFE program, and to assist over 200 individuals from underprivileged backgrounds through Solidarity Sourcing program.

L'Oréal has been a proponent of women in scientific field, supporting Thai female scientists’ research for 22 years through FOR WOMEN IN SCIENCE program.

At the brand level, L'Oréal Paris continues its Stand Up Against Street Harassment project in collaboration with Raks Thai Foundation, engaging over 18,000 participants in online training to fight street harassment and make a positive change.

Maybelline New York’s Brave Together program, in partnership with Sati App Foundation, offers mental health counseling access, while YSL Beauty Thailand has conducted trainings in collaboration with the Women and Men Progressive Movement Foundation to create an awareness of warning signs of intimate partner violence, with over 670 participants trained.

In an ambitious move for 2024, L'Oréal Groupe in Thailand unveiled its latest headquarters: “Baan Beauté,” a dynamic hub for operations across Thailand, Myanmar, Laos, and Cambodia. Designed with the concept “Beauty Meets Technology & Sustainability,” this modern office merges aesthetic appeal with functional design inspired by makeup, equipped with collaborative spaces to stimulate employees and enrich the work atmosphere.

Additionally, it incorporates advanced technology for energy and resource efficiency, aligning with L’Oréal's sustainability objectives.