Home Beauty & Wellness L’Oréal expands its Russia business

L’Oréal expands its Russia business

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Paris-based L’Oréal group, the world’s largest cosmetic and beauty company, will soon open its first factory in Russia. The firm’s new 111,111-square-foot plant is designed to manufacture shampoos, hair conditioners and dyes for L’Oréal Paris and . These products will be sold in Russia, and other Commonwealth of Independent States. Initially, the factory will produce up to 120 million units annually, with plans to double the capacity in the future. “With sales of 563 million euros in 2009, L’Oréal Russia is the market leader, showing great business potential for the coming years,” says a company official. In the first half of 2010, L’Oréal’s business in Russia posted a 17.6 percent revenue gain.

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Posted on: 30-9-2010
Source: www.wwd.com