BEIJING - The L'Oreal Group, the largest cosmetics corporation in the world, doesn't just bring beauty to its Chinese customers; it puts a good face on society at large.
| L'Oreal Group has issued its first country-specific report on sustainable development - the 2009 L'Oreal China Sustainability Report. It delivers a full picture of L'Oreal's sustainable achievements and commitments made in 2009 from the aspects of performance development, scientific research and innovation, corporate social responsibility and information transparency. [Photo/China Daily] |
The French company has officially issued its first country-specific report on sustainable development - called the 2009 L'Oreal China Sustainability Report.
"From when we were a small company with a single hair-dye product until we grew into the largest cosmetics group in the world, we have ensured sustainable values have played a dominant role in our success. We have extended the spirit of pursuing excellence and sustainable development in the dynamic and fast-growing cosmetics market in China," said Jean-Paul Agon, chief executive officer of L'Oreal Group.
"By publishing the first specialized and localized sustainability report in China, we will show our confidence and commitment to the China market. We believe that with the sustainability vision and driving forward sustained innovation L'Oreal will better meet diversified beauty needs in whichever market we enter."
China represents one of the most dynamic and untapped cosmetics markets for L'Oreal. Over the last six to seven years, the Chinese cosmetics and toiletries market has undergone rapid transformation and expansion, making it the second-largest in the Asia-Pacific region after Japan and seventh-largest in the world.
"In such a dynamic market, L'Oreal China has made significant process since it entered in 1996. We now offer 19 brands here. In 13 of the past 14 years, we have seen consecutive double-digit sales for nine years of growth, making us the largest 'beauty kingdom' in China," said Francis Quinn, director of L'Oreal Sustainable Development. "The greater our development in China, the stronger is our commitment. It's important to emphasize our commitment to developing here in a sustainable and responsible manner. That's why we have decided to make China the first country in which we publish a specialized and localized…