French cosmetics major L’Oreal is “not satisfied” with its performance in the Indian market, where it has not gained any market share in 2025 despite recording high single-digit growth, said its global CEO Nicolas Hieronimus.
India, which currently contributes roughly one per cent of L’Oreal’s turnover, is very small and needs a lot of effort, both financial and human, to change gears in India, Hieronimus said while responding to a query on the fourth-quarter earnings call last week.
“India, though, is not meeting expectations, and we have a new setup there starting this year,” said Hieronimus in his opening remarks.
Hieronimus said he is “optimistic, ambitious” that the company will start doing better in 2026.
L’Oreal, which last year appointed a new team, with Jacques Lebel as its India country manager, expects a growth revival in India, where beauty products are witnessing faster growth, riding on tailwinds as a growing economy, rising disposable income, and an expanding number of millennials.
When asked how L’Oreal is changing India going forward, he said the company has revised its strategy and is looking for major growth opportunities. The company expects to do better in the Indian market in 2026, he said.
“As far as India is concerned, when I say that, I am not satisfied. We had high single-digit growth, but we did not gain a lot of market share, if any. And in the end, I think it’s just because we are setting up a new team, a new organisation,” Hieronimus said.
Hieronimus, who took the board of directors to India at the end of October, has revised the strategic plan for the country.
“We have revised the strategic plan. We see where we have major growth opportunities. LDB ( L’Oreal Dermatological Beauty), for example, is fantastic. We just launched CeraVe and La Roche-Posay. It’s starting very well, but it’s still very small,” he said.
However, he also mentioned that L’Oreal had great positions in some categories like hair care, where its brand Garnier is number one, or hair colour, where it has “great products”.
“But overall, we have to be more ambitious. We have a new CEO for L’Oreal India who was previously in charge of CPD Mexico, and he delivered a very strong performance there. We have new capacities. We have invested in our factories,” he said.
The French company has announced the opening of its first dedicated Beauty Tech centre at Hyderabad in India, which will support the development and deployment of digital platforms and AI-led solutions across its international businesses.
“Let’s say that today, India is roughly one per cent of our turnover, which is very small. So, you know, it can only go up, and we have really put a lot of effort, both financially and humanly, in terms of talents, to change gears in India,” he said.
Omar Hajeri, president of the Professional Products Division, said emerging markets in the segment remain the strongest engine. It had double-digit growth, notably in Gulf countries, India, Brazil, and Mexico.
L’Oreal India, a wholly-owned subsidiary of L’Oreal SA, has been operating since 1994. It operates here with 26 brands, such as L’Oreal Paris, Garnier, Maybelline New York, and NYX Professional Makeup, which are mass market products. In the hair and beauty salon channel, it has – L’Oreal Professionnel, Matrix, Kerastase, Redken and in selective distribution – Kiehl’s, Lancome, Yves Saint Laurent.
It sells fragrances via L’Oreal International Distribution, with brands such as Ralph Lauren, Armani, Prada, Valentino, Diesel, Viktor & Rolf, Maison Margiela, Mugler, Azzaro, and Guy Laroche.
Besides, it has two manufacturing facilities in Chakan (Maharashtra) and Baddi (Himachal Pradesh), and Research and Innovation facilities in Mumbai and Bengaluru.
