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L'Oreal Korea Success Story

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"Cosmetics is technology and science, and this difference will divide the success or failure of cosmetics companies in the future.Cosmetics are often said to sell dreams and images. However, the world's top cosmetics company, L'Oreal Jean-Paul Agong, had different ideas.
This is a stern warning that it will be difficult to survive unless the team competes with technical skills.

Jean-Paul Agong (52), chairman of L'Oreal Group, the world's No. 1 cosmetics company, who has annual sales of 23 trillion won and sells 135 cosmetics per second to women around the world, held an exclusive interview with Maeil Business in Korea. As the world's leading company, AGong first revealed the future prospects of the cosmetics industry.
"The days when cosmetics compete with images and packaging are over," he said. In the future, the difference in technology will be fundamental to the cosmetics market. Because consumers will eventually feel the difference in quality and choose products that are effective or effective, companies that are not supported by technology will naturally fall behind," he stressed.

L'Oreal Group, which developed its first dye 100 years ago, is investing heavily in technology development. Of the annual sales, 3.5 percent are invested in technology development, with some 3,000 researchers working at 16 research institutes around the world alone. They are preparing for the future by studying technologies encompassing the entire cosmetics industry, including anti-aging, new makeup techniques and new hair dyeing techniques.