L’Oréal Paris has officially entered the Kenyan market, expanding its reach in the beauty sector with the launch of a comprehensive range of products tailored exclusively for the Kenyan market.
Rising customer demand for luxury but affordable beauty and personal care products is driving the brand’s entry into Kenya, according to the company, which prides itself on being a pioneer in beauty science, Parisian, and a feminine brand that empowers women through its famous slogan “Because you’re worth it.”
“L’Oréal Paris provides quality, efficacy, and innovation to a market with a rising consumer base but a big number of potential consumers who are mostly untapped,” stated Serge Sacre, Managing Director of L’Oréal East Africa.
The brand has made its top-rated Revitalift Filler Range, which targets various skin types, available. The product was created to protect consumers’ skin from UV damage and fine wrinkles while also encouraging a healthy and young appearance.
L’Oréal is relying on its research and development center to generate products that cater to local tastes. L’Oréal spends 4% of its income on research & development at the moment.
Sacre noted that the business might grow from its current 30% penetration to a billion-dollar market in five years, up from its present estimated value of $200 million.
L’Oréal employs more than 85,400 people in 140 countries.
Sacre noted that the business might grow from its current 30% penetration to a billion-dollar market in five years, up from its present estimated value of $200 million.
L’Oréal employs more than 85,400 people in 140 countries.
According to a survey by research firm Grandsview, the global anti-aging products market, which was valued at $ 40.49 billion in 2020, is expected to increase at a compound annual growth rate (CAGR) of 5.4 percent from 2021 to $ 60.26 billion by 2028.
Consumer awareness of age-related skin concerns such as fine lines, wrinkles, and dullness, combined with a rising willingness to pay on products that help them proclaim their skin youthfulness, will boost market demand during the projection period, according to the research organization.
Experts from the sector, including scientists, dermatologists, distributors, and celebrities, gathered in Nairobi for the debut.
Content Courtesy of L’Oreal East Africa, Nice and Lovely East Africa & NHF