French cosmetic giant, L’Oreal, is looking at the possibility of developing a full-fledged Research and Development centre in the country, as it aims to develop specific products for the Indian market. “India is one of the fastest-growing markets for L’Oreal. We have a clear vision that we need to develop specific products for the Indian market considering the size and potential going forward. We have expanded our testing centre in Mumbai to a research centre. At present, L’Oreal has five R&D centres across the globe,” says Aby George Philip, National Sales Manager, L’Oreal Professionnel India. The company currently mostly imports products for the Indian market, while a few are produced at its plant in Pune. Besides, the company is betting big on the professional segment and is planning to reach out to around 10,000 beauty salons across the country in the next two-three years.
Source: www.economictimes.com
