This article is by: CNBC
Read more about it here: The world’s largest beauty company sees China as its digital ‘laboratory’
An excerpt from CNBC:
"China is “a great laboratory” for beauty giant L’Oreal in terms of how it tries out new technology, according to its chief digital officer. It is the “most digitalized” country in the world, Lubomira Rochet told CNBC’s Julianna Tatelbaum.
E-commerce makes up 40% of L’Oreal’s sales in China, up from about 2% in 2012, Rochet said, and that compares to 13.2% for the business globally. “The magnitude of the change has been tremendous,” Rochet added.
It’s a market where many consumers buy via messaging apps such as WeChat, so L’Oreal has integrated technology to let people “try on” lipsticks by pointing their smartphone camera at themselves. The L’Oreal-owned Giorgio Armani make-up brand became the first luxury line to use the technology on WeChat in July.
“It has seen a massive digitalization, so everything we see coming from China we think will spread out. And it’s a great laboratory for us, China, you know in order to be able to take those best practices and be able to spread them in other countries,” Rochet added."
Your On-the-Ground People in China.
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