Jean-Paul Agon, Chairman of the Board of Directors of L’Oréal
The 7e edition of the China International Import Expo (CIIE), the first national-level exhibition dedicated to imports in the world, is held from November 5 to 10 in Shanghai. Jean-Paul Agon, Chairman of the Board of Directors of L’Oréal, is present at 7e CIIE. On November 5 in the morning, he granted an exclusive interview to China today. He expressed his expectations for this year’s edition, talked about the role of CIIE in cooperation between Chinese and French companies, shared the development and expansion project of L’Oréal on the Chinese market and highlighted the role of L’Oreal in Sino-French exchanges. Here are excerpts from the interview.
China today : L’Oréal has been participating in the CIIE since 2018. What has it accomplished in previous editions and what are its objectives for this year?
Jean-Paul Agon: We want to show our foreign friends the best and most innovative things we have. In China, Chinese companies and Chinese consumers will like our products if they are innovative enough and if they are relevant to the market. We are here to help you make this happen. Each time, we present a new product, a new collaboration or a new initiative. The CIIE is a platform that gives us a lot of visibility. Of course, when customers visit stores, they often look for what was first introduced to the world here at CIIE.
The strong points of L’Oréal for this edition are the new products that we will present. I always look forward to new things because what’s great about CIIE is that every year there is something new: new brands, new products, launches, innovations and new technologies . Therefore, it is very interesting to present L’Oréal, but also to discover all the new products. I’m very curious to see what will happen, because I just arrived and I haven’t seen everything yet.
China today : What role do you think CIIE has played in cooperation between Chinese and foreign companies?
Jean-Paul Agon: A very important role, because the CIIE is the only exhibition in the world dedicated to imported products. This demonstrates the openness between France and China and towards the world. For L’Oréal and French companies, this is a unique opportunity to show China what they are capable of doing. It is also an opportunity for consumers and Chinese authorities to discover everything that France has to offer. It’s really a chance to get to know each other better.
China today : How has L’Oréal evolved in China over the past 27 years? What is the place of China in L’Oréal’s global organization and what are the future plans for this market?
Jean-Paul Agon: I am very happy, because it was me who created the subsidiary in China. At the beginning, we were just ten people, ten collaborators in a small apartment in Shanghai. Today, this subsidiary has become the second largest of L’Oréal, and perhaps one day it will be the first. We have a lot of ambitions, and it has become a large-scale business with many collaborators, a real success. L’Oréal is the leading cosmetics company in China, but we still have a lot of ambition because we still reach relatively few consumers. We reach between 120 and 140 million Chinese consumers, but of course there are many more potential consumers interested in our products.
We already have 350 stores in China and we have the ambition to continue to grow. There are so many opportunities and customers who don’t know us yet. Even if they know us a little, they have never had the experience of visiting a store, appreciating the quality of our products or connecting with the brand. There are therefore many investment and development opportunities available to us.
China today : What changes have you observed in the needs of Chinese consumers in recent years? What actions has L’Oréal taken to respond to this?
Jean-Paul Agon: China is a constantly evolving market, with new trends emerging every year. Young people play a very important role, influencing fashions, expectations and needs. L’Oréal is here to meet these new demands.
China today : This year marks the 60e anniversary of the establishment of diplomatic relations between France and China. For 60 years, trade between the two countries has continued to intensify. Does L’Oréal have any plans to further promote these exchanges?
Jean-Paul Agon: There have already been many meetings and cultural exchanges. For example, L’Oréal organized the Notre-Dame de Paris exhibition in Shanghai in 2022 and in Beijing this year. We are actively participating in the celebration of this very important anniversary. Moreover, what is interesting is that the former director of L’Oréal, Mr. Bettencourt was part of the delegation which came for the first time in 1964 to establish diplomatic relations. He was part of the government of General de Gaulle, which closely links L’Oréal to the history of relations between France and China.
