French beauty products giant L’Oréal plans to double its India business over three to five years, growing at twice the pace of the local personal care market, expecting higher disposable incomes to spur demand for hair colours, skin care creams and fragrances.
L’Oréal, which entered India in 1994, sells a range of beauty, personal care and coloured cosmetic products under brands such as Garnier, Maybelline New York, L’Oréal Paris and Kiehl’s. Garnier, its mass market brand for hair colours, shampoos and skin care products, is the company’s largest brand in the country.
“From our perspective, the idea is very clear—We are No. 1 in the world and No. 2 in India. Can we grow to become No. 1 in India in coming times?," said Aseem Kaushik, managing director, L’Oréal India. HUL with brands such as Lakme is the largest in the beauty and personal care market.
Kaushik has spent close to three decades with L’Oréal and took over as India MD earlier this year.
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