L’Oréal is looking to play on India’s growing appetite for beauty products and is eyeing new acquisitions in the market, according to MD Amit Jain.
Speaking to Live Mint, Jain stated that the Indian arm of the French beauty company is looking to acquire companies in the skin and make-up market, and is searching for brands that fill a gap in its current portfolio. This includes Maybelline, NYX, L’Oréal Professional and Garnier.
With talks already said to be afoot with some companies, Jain would not be drawn into specifics, however, he stated, “What’s of great interest to us is skin and make-up. These are two areas that are still nascent in India, where we believe there are a lot of opportunities.”
Keen to offer region specific products, he said, “We are looking for good strong formulations for Indian consumers, and high quality manufacturing. For us, it is also about getting in products that are close to the Indian consumers both from a brand and product type.”
He continued that companies with a natural ethos would be “interesting for us.”