L'Oreal's new Research and Innovation Center in India has opened, and will be dedicated to studying the specifics of Indian hair and skin. It also aims to better understand the beauty routines and needs of Indian women consumers.
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."
L'Oreal plans to invest a total of 140 million Euros in India from 2011 to 2016. The new R&I Center includes a product development center in Mumbai and an advanced research center in Bangalore. It will employ over 100 Indian researchers and scientists by the end of this year.