L’Oreal, the world’s largest beauty and cosmetic company, has acquired Cheryl’s Cosmeceuticals, a Mumbai-based professional skincare brand, for an undisclosed amount. Jean-Christophe Letellier (pictured), managing director, L’Oreal India, said the company is bullish on the Indian market and plans to grow the professional division of the company, which currently accounts for 20% of the turnover. About 70% of the revenues comes from consumer products and 10% from luxury & active cosmetics, which includes brands such as Vichy, Giorgio Armani and Ralph Lauren fragrances. “We plan to go deeper into the market every year. And for this we will increase the number of salons by 5,000 every year.” The acquisition wou...
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