“Mexico is a country full of talent and that is making a great contribution to the growth of our group. Together with each of my 2,300 colleagues who work in this subsidiary, we will seek to continue building and scaling this success story called L’Oreal Mexico”, Armstrong was quoted as saying in a statement.
Meanwhile, Kenneth Campbell, current CEO, was appointed to lead the cluster made up of Germany, Austria and Switzerland, the third most important market after the United States and China, the company reported in a statement.
Campbell, began his career at L’Oreal in Germany, 25 years ago. Therefore, this movement is also for the executive a return to the place where he began his journey and that, after performing different functions in seven countries, had brought him to Mexico in April 2020.
Mexico is one of the ten main markets for the company’s global business, registering a record growth of 30% in 2022, driven by new products and the return of buyers to stores, and it was the country that promoted that Latin America to grow “twice as fast”. The goal for this year is to maintain these results.
From its portfolio of brands, Lancome and La Roche Posay They remain the favorites for the luxury and dermo-cosmetic market, while in mass consumption the most sought after are Garnier and Maybelline.
Electronic commerce gained strength with the pandemic and last year the company implemented a social e-commerce model, which allows anyone to sell products and recommend them from its online channels. This digital transformation multiplied online sales twelve times.
L’Oréal arrived in Mexico 61 years ago, with the inauguration of its subsidiary in 1962. Currently, it has a portfolio of 23 brands organized into four divisions: Professional Products, L’Oréal Dermatological Beauty, General Public Products and L ‘Oreal Luxe.
Its local operation encompasses its headquarters in Coyoacán, a Distribution Center in Xochimilco and two factories located in the state of San Luis Potosí and in Mexico City.