对话欧莱雅集团CEO叶鸿慕：从“在中国制造”到“为中国创造”

Core Insights - L'Oréal is shifting its strategy in China from "localization" to "global innovation engine," indicating a significant evolution in its approach to the Chinese market [1][3] - The company reported a return to growth in the Chinese market in Q3, driven by its high-end beauty segment, which accounts for 30% of its global market share [1][9] - L'Oréal's innovation is increasingly rooted in China, with local teams developing proprietary technologies like the PDRN technology for its products, marking China as a key source of global innovation [3][4] Group 1: Strategic Evolution - L'Oréal's strategy has evolved to reflect a deeper understanding of China's unique market characteristics, including diverse climates and cultural nuances, which are essential for product development [3][4] - The company has invested in local laboratories for 20 years, which is now yielding commercial returns, as evidenced by the introduction of the "New Age Beauty" concept based on 15 years of research in skin longevity science [4][6] - The partnership with Kering Group's beauty division is a strategic move to enhance L'Oréal's position in the high-end beauty market, leveraging Kering's luxury brand portfolio [2][9] Group 2: Market Dynamics - The collaboration with Kering includes brands like Creed, Balenciaga, Bottega Veneta, and Gucci, which allows L'Oréal to strengthen its control in the luxury beauty segment [9][10] - Despite overall pressure in the Chinese beauty market, L'Oréal's growth in the high-end segment demonstrates resilience and aligns with the trend of consumer upgrading [10][11] - The partnership is seen as a strategic positioning move in a competitive market, enabling L'Oréal to cover a broader price range from "affordable luxury" to "ultra-luxury" [10][11] Group 3: Long-term Commitment - L'Oréal's success in China is not just about market gains but is integral to its global strategy, emphasizing the importance of long-term commitment to local market dynamics [11] - The company's ability to adapt to changing consumer demands and maintain a long-term perspective is crucial for sustaining its growth trajectory in China [11]