In an exclusive interview with Fa Yu-bin, we explore the deepening relationship between L’Oréal and the China International Import Expo (CIIE), which traces back to a pivotal letter from 2018.
The letter outlined China’s plans to host the CIIE and extend an invitation to foreign businesses to seize opportunities in the rapidly developing market. Upon reading it, L’Oréal China’s then Chairman and CEO, Jean-Paul Agon, remarked, “What a fantastic idea!” This enthusiasm led L’Oréal to become one of the first supporters of the CIIE, demonstrating their commitment by eagerly participating in the inaugural event.
As a long-time participant and the chair of the exhibitor alliance council for five consecutive years, L’Oréal is set to showcase its offerings at the CIIE for the seventh consecutive year in 2024. They will also serve as the dual chair of the exhibitor alliance and the Consumer Goods Committee.
L’Oréal’s determination to engage with the CIIE stems from their confidence in China’s future. Each year, they tailor their participation theme, bringing the latest global trends, captivating brands, innovative products, and cutting-edge technologies to the expo, reflecting the interests of Chinese consumers.
The CIIE is now a flagship event for L’Oréal and a prime platform for launching global products and technological innovations. Over the past seven years, the company has introduced nearly 20 international new brands and numerous revolutionary beauty technologies at the expo, with many items evolving from mere showcases to bestsellers.
In 2024, L’Oréal plans to establish the largest single booth in the consumer goods sector at the CIIE, spanning 672 square meters. This main display will be a breathtaking blend of technology, culture, and art, offering attendees a unique experience.
The event will feature premieres of global products, trendy beauty technologies, and sustainable collaboration projects. Additionally, L’Oréal will delve into the scientific artistry behind its four key categories: skincare, makeup, haircare, and fragrance.
The CIIE is not just a stage for new global products and tech unveilings; it also fosters international communication and collaboration across various cultures. In 2024, as China and France celebrate 60 years of diplomatic relations, France will be the guest country at the CIIE, showcasing the deep-rooted friendship and fruitful cooperation between the two nations.
As a participant in this celebration, L’Oréal will set up a presence in the French pavilion, symbolizing the harmonious blend of French elegance with Chinese charm, thereby contributing to the shared narrative of Sino-French cooperation.
The collaborative stories at the CIIE have been ongoing. In 2019, L’Oréal partnered with the Dongfang Beauty Valley to launch the “BIG BANG Beauty Tech Innovation Program,” which encourages win-win collaboration with pioneering tech startups to advance open innovation in the beauty sector.
During French President Macron’s visit to China in April 2023, the French segment of the “BIG BANG” initiative was officially elevated to a strategic partnership between China and France. A year later, Dongfang Beauty Valley signed a strategic memorandum of cooperation with CTIBIOTECH, one of the award-winning companies from the 2023 China-France “BIG BANG” track, signifying the positive spillover effects of the CIIE.
The expo encourages industry “leaders” to showcase their proprietary technologies while strongly supporting startups in sharing their unique innovations on this global platform. The CIIE’s principles of “openness, collaboration, innovation, and win-win outcomes” align closely with L’Oréal’s “BIG BANG” initiative.
In 2023, the “BIG BANG” project successfully expanded from China to Japan and South Korea. This opportunity allowed L’Oréal to invite innovative companies from these countries to participate in the CIIE and explore the vast potential of the Chinese market.
Participants from international startups expressed how impressed they were by the CIIE, noting its vibrant market atmosphere and innovative spirit. They built connections with like-minded partners and potential collaborators and received supportive policy packages from various levels of government. Many of them aspire to have more opportunities for “close engagement” with China, hoping to transition from first-time attendees to regular exhibitors at the CIIE, just like L’Oréal.
The CIIE’s “spillover effects” have provided L’Oréal with insights into the dynamism and potential of the Chinese market, reinforcing their commitment to deepen their presence there. In 2024, L’Oréal aims to increase its investment in China, with the launch of a smart operations center in Suzhou set for April 2024, aimed at meeting the growing personalization demands of Chinese consumers.
As a seasoned participant of the CIIE, L’Oréal is poised to continue its support for this significant event. At the launch ceremony for the seventh CIIE, L’Oréal has already secured its participation for the eighth edition, demonstrating its ongoing commitment to this important platform.
