L’Oréal has outlined plans for the large-scale development of its online platform, which it predicts will grow exponentially in importance during the coming years, LSA-Conso.fr reports.
Jean-Paul Agon, CEO of the multinational beauty firm, said that it is in the process of changing to become a top-class online company, while remaining a supplier to bricks-and-mortar retailers worldwide.
He explained that during the first nine months of 2015, the revenue generated by L’Oréal online was as large as revenue in the fifth most important country in which it trades.
In China, 20 per cent of L’Oréal's sales now come from its E-Commerce channel, and overall, the company’s online sales are worth over one billion euro annually, Agon stated.
"14 per cent of overall revenue comes through the online platform," he added.
L’Oréal’s annual results will be published on February 12.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Peter Donnelly. To subscribe to ESM: The European Supermarket Magazine, click here.
