January 10, 2013 06:43 ET

L'Oreal Unveils New Research & Innovation Center in India

L'Oreal, One of the Region's Fastest-Growing Beauty Companies, Accelerates Product Development for the Indian Market Thanks to State-of-the-Art R&I Facilities

MUMBAI, INDIA--(Marketwire - Jan 10, 2013) -   L'Oréal inaugurated today its new R&I Center to study Indian hair and skin specificities as well as the beauty routines and expectations of Indian consumers. L'Oréal plans to invest a total of 140 million euros (Rs. 970 Crores) in India from 2011 to 2016.

The R&I Center in India is the Group's 6th R&I hub globally1. It includes both a Product Development Center in Mumbai and an Advanced Research Center in Bangalore, and will employ over 100 Indian researchers and scientists from the fields of Physical Chemistry, Organic Chemistry, Analytical Chemistry, Biotechnology, Chemical Engineering, Physics and Biology by end 2013.

At the inauguration, Jean-Paul Agon, Chairman and CEO of L'Oréal, said, "With one of the highest growths of the Group in Asia Pacific, India is a key contributor to L'Oréal's objective of reaching one billion new consumers. The R&I Center in India reflects our confidence in the great potential of the Indian market and our strong commitment to the country. It is in line with L'Oréal's universalization strategy of adapting our global brands to each culture's specific needs."

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