Cosmetics importer L’Oréal Romania has integrated its L’Oréal Luxe division into its Romanian business, making it the fourth division of the company. The company will start selling products directly from the L’Oreal Luxe brands, after sales were previously done via zonal agents and reporting was made directly to Zagreb, Croatia. The Romanian subsidiary will control the sales of luxury products on the Romanian market, with brands such as Lancome, Yves Saint Laurent, Biotherm, Giorgio Armani, Diesel and Cacharel.
The luxury cosmetics products make a market of around EUR 60 million in Romania, and L’Oreal estimates it has a market share of some 15 percent on this segment. “I am convinced Romania has a high growth potential, especially on the luxury products market, a segment where L’Oreal had a strong growth at a group level, up 16 percent in 2012. this is one of the reasons we decided to consolidate the team, the proximity and the marketing targeting […],” said Gilles Antoine, country general manager of L’Oréal Romania (in picture).
The Romanian cosmetics market is estimated at some EUR 600 million and is shared by companies such as Beiersdorf, L’Oreal, Unilever, Procter & Gamble. The market is estimated to grow to some EUR 2.2 billion by 2020, according to data from Euromonitor.
(photo source: L’Oreal)