年内两次投资本土品牌，欧莱雅意欲何为

Core Insights - L'Oréal has announced a minority stake investment in the Chinese skincare brand "LAN" through its investment company, Shanghai Meici Fang, although the exact shareholding ratio and investment amount have not been disclosed [2] - "LAN" is a domestic skincare brand established in 2019, known for its unique "oil-based skincare" approach, and has shown rapid growth with significant revenue achievements [2][3] Investment Strategy - Since its establishment, Meici Fang has completed multiple investments in Chinese beauty brands, focusing on beauty technology and high-end fragrance sectors [3] - L'Oréal has also invested in other local brands, such as Naturals, where it invested €4.42 million for a 6.67% stake prior to the brand's IPO [3] Market Performance - L'Oréal's sales for the first three quarters of the year reached €32.8 billion, reflecting a growth of approximately 1.2%, which is a slowdown compared to the previous year's 6% growth [4] - The North Asia market has seen a decline in sales, with a 1.1% drop year-on-year for the first three quarters, indicating a need for new growth avenues [4]