L'Oreal Group to debut more of its brands at CIIE

Five brands owned by L'Oreal Group will debut at the fourth China International Import Expo, which will be held in Shanghai from Nov 5 to 10, according to the company's China CEO Fabrice Megarbane.

The French beauty giant will also showcase Perso, the world's first personalized lipstick at this year's CIIE, Megarbane said during an interview prior to the 33rd meeting of the International Business Leaders' Advisory Council in Shanghai on Friday.

Powered by artificial intelligence, Perso allows consumers to create their own creams, lipsticks and foundations. Perso was first introduced to the Chinese market at last year's CIIE.

According to Megarbane, the CIIE provides an ideal platform via which consumer goods companies such as L'Oreal can build technology connections with consumers and other companies. By working with other exhibitors and the CIIE bureau, a complete ecosystem can be built to advance quality consumption, which in the long run will also boost innovation, he said.

This is the second year in a row that L'Oreal is part of the IBLAC - an international think tank for Shanghai made up of multinational companies' top executives. In a proposal that will be submitted to the local authorities, the company suggested that the city's industrial innovation should be integrated with consumer insights. While the total consumption value should be further increased, as much importance should be attached to improve consumption quality and promote personalized consumption.

L'Oreal will make efforts to help Shanghai keep up with the major trend, which is the integration of consumption, new demands, business models, consumer experiences, technologies and values, said Megarbane.

Through its continued opening-up and digitalization, Shanghai will be able to ride the tide and become an international consumption center in a real sense, he added.

Meanwhile, L'Oreal has witnessed the evolution and upgrading of the Chinese market, which has at the same time generated much room for L'Oreal's growth, said Megarbane. He noted that Chinese consumers are now seeking higher quality products and this has provided another incentive for companies like L'Oreal to enhance product innovation, he said.