PR98664

SHANGHAI, Nov. 7, 2022 /PRNewswire=KYODO JBN/ --

Summit unpacks latest consumer trends and innovation in China, Japan and Korea

Leading experts shed light on how co-creation on technology development and

innovation can empower the future of beauty

L'Oreal hosts the first-ever North Asia Beauty Industry Innovation Summit

focusing on the future of beauty powered by technology and innovation through

co-creation in China, Japan and Korea.  

The Summit took place during the China International Import Expo (CIIE) and was

attended by key stakeholders from different industries and markets. Speakers

included experts from beauty, green sciences, AI, digital and medical sectors

as well as institutions including Business France and Shanghai Institutes for

International Studies. The Summit is open to industry players and the public in

China, Japan and Korea simultaneously in real time.

Mr. Fabrice Megarbane, President of L'Oreal North Asia & CEO of L'Oreal China,

said: "L'Oreal is delighted to host the North Asia Beauty Industry Innovation

Summit at this year's CIIE.  The North Asia region represents more than one

third of the world's total beauty market. It has a unique eco-system of what we

call the Beauty Triangle of C-beauty, J-beauty and K-beauty. There are a lot of

cultural relevance and commonalities in beauty needs in the region while each

market brings unique strengths.  This dynamic is what makes the North Asia

region special, not only as a growth engine but also an inspiration for

technology advancement and innovation empowering beauty. The purpose of this

event is to bring together the different wisdoms and accelerate technology and

innovation through co-creation in the region."

L'Oreal established the North Asia Zone in 2021, covering five markets of

Mainland China, Hong Kong, Taiwan, Japan and South Korea. Its vision is to

strategize, create and activate the powerful Beauty Triangle ecosystem for

sustainable growth.

During the Summit, L'Oreal decoded the lates t consumer trends in the Beauty

Triangle around four key themes including "self-expressive beauty",

"supercharged efficacy", "skinification" and "sensorial matters". The company

also illustrated key innovation breakthroughs echoing these trends, such as

3CE's New Color Effects, Lancôme's Dual LED Youth Treatment, YSL's Touche Eclat

Glow-Pact, Prada's Paradoxe Fragrance, and Shu Cleansing Oil's "Shu Purifying

Ritual".

Talking about leveraging the best science and technology to bring breakthrough

innovations, Mr. Maxime De Boni, Vice President, L'Oreal R&I North Asia and

China, said: "We have the open R&I strategy to lead us into the world of "Co",

a world of co-llaboration, co-creation and co-operation to shape the future of

beauty. Internally, we maximize the synergies across our local R&I centres in

Shanghai, Tokyo and Seoul in North Asia. Externally, we detect, select and

transform with the best academics, suppliers, start-ups and vendors in the

region, from upstream to downstream, to invent breakthrough and superior

innovations. This summit is exactly about our belief in the power of 'Co' and

accelerating our 'Open'."

The event featured a panel discussion that included leading experts from

beauty, AI & digital, and R&D specialties in different markets.  A recent

example of cross-industry co-creation was showcased where L'Oreal Japan

partnered with Morishita Jintan to develop its first capsule made of

plant-derived active cosmetic ingredient through cutting edge "active delivery

capsule" technology.

During the discussion, all experts called for more cross-industry, cross-market

collaboration to bring new technologies and new innovations to consumers. On AI

& digital, experts raised the pressing need to strengthen AI infrastructure to

facilitate collaboration. On medical beauty, panelists pointed out the

importance of bringing together start-ups with new ideas, companies with

resources and medical professionals with expertise to bolster the innovation

journey.

"At L'Oreal, our sense of purpose is to create the beauty that moves the world.

We believe that together with our partners and stakeholders, we can co-create

the future of beauty with game-changing technologies and innovation that truly

inspire our consumers in North Asia and beyond", continued Mr. Megarbane.

About L'Oreal Group

For over 110 years, L'Oreal, the world's leading beauty player, has devoted

itself to one thing only: fulfilling the beauty aspirations of consumers around

the world. Our purpose, to create the beauty that moves the world, defines our

approach to beauty as inclusive, ethical, generous and committed to social and

environmental sustainability. With our broad portfolio of 35 international

brands and ambitious sustainability commitments in our 'L'Oreal for the Future'

programme, we offer each and every person around the world the best in terms of

quality, efficacy, safety, sincerity and responsibility, while celebrating

beauty in its infinite plurality.

With 85,400 committed employees, a balanced geographical footprint and sales

across all distribution networks (e-commerce, mass market, department stores,

pharmacies, hair salons, branded and travel retail), in 2021 the Group

generated sales amounting to 32.28 billion euros. With 20 research centers

across 11 countries around the world and a dedicated Research and Innovation

team of over 4,000 scientists and 3,000 tech professionals, L'Oreal is focused

on inventing the future of beauty and becoming a Beauty Tech powerhouse. More

information on https://www.loreal.com/en/mediaroom

About L'Oreal North Asia Zone

L'Oreal North Asia Zone was established in 2021 as L'Oréal Groupe regrouped the

geographical scope of its zones to give greater coherence to consumer behaviour

and to create synergy within the region. The North Asia Zone comprises of five

geographically and culturally connected markets of Mainland China, Japan, South

Korea, Hong Kong and Taiwan.

L'Oreal North Asia Zone is the second largest region within the Group,

accounting for 30.5% of the Group's global sales in 2021. Situated in the most

beauty intense region with more than one-third of the world's total beauty

consumers, L'Oréal North Asia shapes the future of beauty with its innovation

centers in Shanghai, Tokyo and Seoul, while investing in beauty tech

transformation as one of the three beauty tech hubs globally. Here, our mission

is to strategize, create and activate a powerful ecosystem around the North

Asia Beauty Triangle as a competitive edge to unleash sustainable growth for

all and inspire the world.

Source: L'Oreal North Asia

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=433209

   Caption: Mr. Fabrice Megarbane, President L'Oréal North Asia & CEO L’Oréal China,

delivering opening speech

   Link: http://asianetnews.net/view-attachment?attach-id=433212

   Caption: Expert Panel Discussion (From left to right: Ms. Linda Yan, Corporate Affairs &

Engagement Director L’Oréal North Asia (Host); Dr. Sokju Kim, Director Clinic

10, Korea /Phinskin Clinic, Shanghai; Ms. Katia Lan, Consumer Centricity

Project Director L’Oréal China; Mr. Alexander Wu, Founder & CEO of DeepWisdom)