|Thursday, 10 January 2013, 22:20 HKT|
|L'Oreal, one of the region's fastest-growing beauty companies, accelerates product development for the Indian market thanks to state-of-the-art R&I facilities|
Mumbai, India, Jan 10, 2013 - (ACN Newswire) - L'Oreal inaugurated today its new R&I Center to study Indian hair and skin specificities as well as the beauty routines and expectations of Indian consumers. L'Oreal plans to invest a total of 140 million euros (Rs. 970 Crores) in India from 2011 to 2016.
The R&I Center in India is the Group's 6th R&I hub globally1. It includes both a Product Development Center in Mumbai and an Advanced Research Center in Bangalore, and will employ over 100 Indian researchers and scientists from the fields of Physical Chemistry, Organic Chemistry, Analytical Chemistry, Biotechnology, Chemical Engineering, Physics and Biology by end 2013.
At the inauguration, Jean-Paul Agon, Chairman and CEO of L'Oreal, said, "With one of the highest growths of the Group in Asia Pacific, India is a key contributor to L'Oreal's objective of reaching one billion new consumers. The R&I Center in India reflects our confidence in the great potential of the Indian market and our strong commitment to the country. It is in line with L'Oreal's universalization strategy of adapting our global brands to each culture's specific needs."
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: L'OREAL via Thomson Reuters ONE
Topic: Press release summary
From the Asia Corporate News Network
Copyright © 2015 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.