L’Oréal smoothly shifted gears to help mitigate the impact of the coronavirus crisis. 🔐
PARIS — L’Oréal smoothly shifted gears to help mitigate the impact of the coronavirus crisis in all four of its divisions and throughout markets globally.
“All this was done incredibly fast,” said Nicolas Hieronimus, L’Oréal’s deputy chief executive officer, in charge of divisions. “Very typical of L’Oréal is we get onto a big idea — it’s an idea that’s maybe strategized centrally, but then every country, every region, every division implements and adapts it to local needs.”Here, the executive delves into the group’s strategy during the pandemic, discusses learnings and how the beauty business overall might evolve.
I have a quick catch-up with the four division heads about twice a week. That’s very short, but just to share about the issues, opportunities and action plans. We have other types of taskforces, both to prepare for the coming out of confinement and also to try to prepare for the rebound of what will be the next stage of our beauty industry after this crisis.WWD: Where are decisions taken?
Even while managing the business in the confined economy, we learned a lot from China. We could have guessed — but it was very obvious from our Chinese learnings — that e-commerce was going to be the way for consumers, whose desire for beauty has not vanished, to buy products. January was great in China. February was terribly negative. It started to pick up a little bit in March, and we expect our business to continue to improve in April.
WWD: What have been some of the biggest challenges for L’Oréal while the crisis escalated and now, looking at the de-confinement in various countries around the world? On the other hand, you’ve got the mass-market channel, where stores remain open. Consumers’ number-one priority may be other items, but they shop beauty there. And for the Active Cosmetics division, which sells its products in pharmacies, most pharmacies around the world, or drugstores, are open.
At the other end of the spectrum, you’ve got the Consumer Products division, which is providing the cashiers and other employees of supermarkets and hypermarkets around the world with sanitizing gel because these guys are working every day, facing consumers, and want to be protected. At the same time, we are making sure that we ship our products — our hair-color products, our shampoos — that we activate consumers on digital with the right messaging.
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