Interview with Sir Lindsay Owen-Jones, Chairman of L’Oréal
The strategic vision
TAKING STRIDES TOWARDS GLOBALISATION
During the years in which Sir Lindsay Owen-Jones was at the helm of the company, the Group underwent systematic, well-orchestrated globalization. Remarkable geographic expansion generated over 50% of the Group’s turnover outside Europe.
Heading East
After the wall of Berlin collapsed, L’Oréal quickly set up in several former Soviet Union countries where economic expansion was in full swing. Consumer demand was phenomenal and the Group knew exactly how to respond.
During the 90s, the company set its sights on China, which at that time was still an emerging market, but where Sir Lindsay Owen-Jones foresaw huge growth potential. He decided to first launch the upscale products, which appeared to be a paradox but in fact proved to be a rather brilliant success.
As of 1993, the trend picked up considerable momentum throughout Asia. Subsidiaries were established in South Korea, Thailand, the Philippines, India, Malaysia, Singapore and Japan.
Facing challenges in America
“You cannot flourish internationally without doing well in the United States. It wasn’t just an area in which we had to be successful; it was a springboard and a second hub for global expansion.” L’Oréal’s acquisition of Cosmair in 1994 opened the door for several subsequent strategic takeovers of major American brands. Today, Maybelline, Softsheen, Carson, Redken, Matrix, and Kiehl’s provide a solid foundation for L’Oréal’s US subsidiary. This wealthy, demanding, ethnically diverse market is a tremendous source of stimulus and creativity for the entire Group. It is also the birthplace of L’Oréal’s diversity.
In South America, L’Oréal’s presence is increasingly strong, from Brazil to Mexico and Argentina, despite the sometimes difficult and rather risky circumstances. The younger population offers significant growth potential on which Lindsay Owen-Jones bases his expansion policy.
During the years in which Sir Lindsay Owen-Jones was at the helm of the company, the Group underwent systematic, well-orchestrated globalization. Remarkable geographic expansion generated over 50% of the Group’s turnover outside Europe.
Heading East
After the wall of Berlin collapsed, L’Oréal quickly set up in several former Soviet Union countries where economic expansion was in full swing. Consumer demand was phenomenal and the Group knew exactly how to respond.
During the 90s, the company set its sights on China, which at that time was still an emerging market, but where Sir Lindsay Owen-Jones foresaw huge growth potential. He decided to first launch the upscale products, which appeared to be a paradox but in fact proved to be a rather brilliant success.
As of 1993, the trend picked up considerable momentum throughout Asia. Subsidiaries were established in South Korea, Thailand, the Philippines, India, Malaysia, Singapore and Japan.
Facing challenges in America
“You cannot flourish internationally without doing well in the United States. It wasn’t just an area in which we had to be successful; it was a springboard and a second hub for global expansion.” L’Oréal’s acquisition of Cosmair in 1994 opened the door for several subsequent strategic takeovers of major American brands. Today, Maybelline, Softsheen, Carson, Redken, Matrix, and Kiehl’s provide a solid foundation for L’Oréal’s US subsidiary. This wealthy, demanding, ethnically diverse market is a tremendous source of stimulus and creativity for the entire Group. It is also the birthplace of L’Oréal’s diversity.
In South America, L’Oréal’s presence is increasingly strong, from Brazil to Mexico and Argentina, despite the sometimes difficult and rather risky circumstances. The younger population offers significant growth potential on which Lindsay Owen-Jones bases his expansion policy.