L’Oréal CEO Nicolas Hieronimus told reporters that he is planning to double the company’s operations in India over the next few years.  

Hieronimus, said, as reported by The Economic Times,

“India is a very strategic market for L’Oréal. We intend to more than double our business in the next couple of years, expand our factories which are today manufacturing 95% of what we sell in India, and exporting to [the] rest of the region.”

India is a key market for the group and one of the world’s fastest-growing beauty markets.

With this expansion, L’Oreal hopes to gain a revenue of $33 billion this year, according to Statisia.

Hieronimus, added, 

“We are exporting hair and skin products, particularly to the Gulf region, it is the beginning of a big adventure. We are manufacturing half-a-billion units in India but we intend to increase that in the years too.”

Hieronimus met with India’s Commerce and Industry Minister Piyush Goyal to boost trade and investment between France and India.

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