L'Oreal (Thailand) has reported first-half growth of 12% year-on-year in its skincare business, slightly lower than projected but ahead of industry growth of 4%.
Managing director Umesh Phadke said the growth was driven by brand innovation, new products, new communications, new distribution channels and a new in-store experience.
To boost growth, the company will apply similar strategies in the second half and introduce two new luxury brands — Clarisonic and Urban Decay.
Clarisonic is the No.1 instrumental skincare brand in the US, designed to clean facial make-up better, while Urban Decay is billed as an edgy make-up brand.
L'Oreal will also be promoting Color Show, which has already been launched in Thailand and received good feedback from customers. The sister brand of Maybelline New York is aimed at the mass market and affordable at 99-199 baht.
L'Oreal Thailand is the second-largest beauty company in the domestic market.
Its sales continue growing every year because it offers a wide range of products to all customer groups.
"We are the only company that offers skincare products with a price range suitable for rural people or those who shop at Siam Paragon," Mr Phadke said.
L'Oreal has repositioned its L'Oreal Paris make-up franchise as L'Oreal Make-Up Designer, making it the only designer make-up brand in the premium mass market.
The company will also renovate 821 in-store displays for a new modern look this year.
Thailand's skincare and make-up markets are the biggest in Asean, worth 35.8 billion and 12.4 billion baht, respectively.