Nation attractive market for L'Oreal

L'Oreal, the world's largest beauty company by revenue, said it remains deeply committed to the Chinese market, one of its most strategic growth drivers, fueled by the country's dynamic consumer landscape, rapid technological advancements and growing middle-income consumers.

The French company, which has been operating in China for 28 years, said it has seen a huge increase in demand for beauty products and a wider opening of the business environment over the period. By 2030, about 150 million new beauty consumers are expected to emerge in the middle-income consumer group in China, it projects.

"Chinese consumers are well informed and discerning, embracing a more refined and diverse approach to beauty. We remain confident in the long-term potential of the Chinese market and its beauty ecosystem. L'Oreal will continue to invest in China, as investing in China is investing in the future," said Nicolas Hieronimus, CEO of L'Oreal Group.