said it is creating a worldwide Group Travel Retail Division
, based in Paris, that will be headed by Barbara Lavernos, currently managing director of L’Oréal Luxe’s travel retail worldwide. Lavernos is to report to Nicolas Hieronimus, president of Selective Divisions.
"This market, present around the world, could be considered as a 'sixth continent'," L'Oreal Chief Executive Jean-Paul Agon
said in a statement on Thursday. "L'Oreal has high ambition for the future of the channel."
The new division will oversee the sale to travelers of L'Oreal's luxury products such as Lancome creams and Yves Saint Laurent make-up as well as brands such as La Roche Posay and L'Oreal creams and Kerastase shampoo.
Already present at airports and duty-free shops, L’Oréal claimed a 21.6 percent share of the travel retail market in 2012, which was worth $55.8 billion, according to L'Oreal - but, the company says that the market should double over the next 10 years, to reach $100 billion.