PARIS — Recognizing the growing opportunity within travel retail — which represents products sold within such travel distribution channels as airports, cruises and duty-free shops — the L’Oréal group has created a new Group Travel Retail division.
The new division will include the L’Oréal Luxe brands, as well as brands from divisions Active Cosmetics, Professional Products, Consumer Products and The Body Shop. The new division will be based in the Paris suburb of Levallois.
“Travel retail is a key channel for winning over one billion new consumers. This market, present around the world, could be considered a ‘sixth continent.’ L’Oréal already has extensive expertise and strong relationships with client-retailers and has high ambition for the future of the channel,” said Jean-Paul Agon, chairman and CEO of L’Oréal Group.
Heading up the Group Travel Retail division worldwide is Barbara Lavernos, managing director of L’Oréal Group Travel Retail. Lavernos will report to Nicolas Hieronimus, president of Selective Divisions.
A pioneer in the travel retail market since the 1960s, L’Oréal Luxe today is a world leader in the sector. The Consumer Products division also has taken an important position thanks to L’Oréal Paris, the company stated.
L’Oréal’s travel retail market share was 21.6% in 2012. The beauty company stated that the 2012 global travel retail market (which includes all sectors) totaled U.S. $55.8 billion, up 9.4% compared with 2011. The market is projected to double over the next 10 years to more than U.S. $100 billion.