Mumbai: L'Oreal India, part of the euro 21- billion L'Oreal SA, on Sunday said it expects 10-15 percent growth in the Indian market.
"Our turnover stood at Rs 1,600 crore in 2012. We expect double digit growth of 10-15 percent in the Indian market," L'Oreal India Head, Professional Products Division, Aseem Kaushik said here.
The company sees good potential for growth in the domestic cosmetics market. The market size for professional skin and hair care is estimated to be at Rs 2,500 crore in urban India and it is growing at about 15 percent y-o-y basis, he said.
L'Oreal Professional Products category offers various brands in skincare, Kerastase, and Matrix. These have about 400 products in total, which are sold through salons. Under the skincare brands category it offers luxury brand - Keraskin and the recently acquired Cheryl's brand.
Cheryl's Cosmeceuticals had a distribution network spanning over 10,000 salons in India and a turnover of approximately Rs 20 crore in 2012. It has a very wide product range under its umbrella from skincare, body care, lip care and anti-acne products to waxes, facial kits, sunscreen and fairness creams.
"Following the acquisition, Cheryl's, a homegrown brand, will soon be available not only at L'Oreal's 35,000 salons in India, but also in Sri Lanka, Nepal and Bangladesh," Kaushik said.
L'Oreal trains about 1,25,000 hair-dressers every year at its salons and at 60 of its academies and studios across the country, he revealed.
Kaushik pointed out that the biggest challenge in the Cheryl's rollout was training people to use the products as it is a professional cosmetics range.
"L'Oreal has invested approximately Rs 1,000 crore in India over the last five years. It has set up manufacturing plants at Chakan in Maharashtra and Baddi in Himachal Pradesh, besides research and innovation facilities," Kaushik said, adding that the company, however, has "no immediate plans to make further investments in the country".
First Published: Sunday, November 24, 2013, 23:16