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Jean-Paul Agon, chief executive officer of L’Oreal SA
Speaking on an episode of “The CNBC Conversation“, the chief executive explained how the company had transformed over the past five to 10 years, when it comes to digital.
According to Agon, L’Oreal was “the first in 2010 to perceive the digital tsunami” that would transform the beauty industry.
“We have moved very fast, transformed the company very fast. We are considered today as the most advanced, digitally advanced company in the beauty industry and we want to keep this advantage,” Agon said, adding that the cosmetics group was “working on all fronts” to maintain its speed.
Commenting on two specific developments, L’Oreal’s boss discussed how consumers were becoming more interested in products containing natural ingredients, in addition to the rise of personalization.
“We are even launching some new products that are, I would say, almost 100 percent natural. Natural ingredients, natural formula, has biodegradability, recycling and recycled packaging,” Agon explained.
When it comes to personalization and digitalization, not only has the group acquired a number of brands to expand its portfolio in international markets, L’Oreal has also showcased a number of products that are customized to consumers’ tastes.