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Sunday, May 05, 2024

L’Oreal Middle East Celebrates 25th Anniversary: Empowering Women, Investing in Science, and Driving Sustainability

L’Oreal Middle East Celebrates 25th Anniversary: Empowering Women, Investing in Science, and Driving Sustainability

L'Oreal Middle East is marking its 25th anniversary by partnering with the Himayah Organization in Saudi Arabia to support the "Safe Homes" initiative, which aims to train over 600 women in skills and provide psychological support.
L'Oreal has helped 25,000 women in the region over the past 25 years.

In 2023, they launched a Hairdressing Academy in Riyadh and Dammam to integrate women in the workforce and create 15,000 jobs.

Additionally, L'Oreal's "L'Oreal for Women in Science" program has invested over $925,000 in endowments for 51 female Arab scientists and advocated for gender equality in STEM fields.

L'Oreal, a cosmetics company, has announced a partnership with Himayah Organization to combat gender-based violence in the Middle East.

The project, "Stand Up Against Street Harassment," has trained over 11,000 participants on countering such violence.

L'Oreal has been present in the Middle East since the 1960s and opened its first subsidiary in 1998, currently serving 10 markets.

The company is working towards its sustainability, innovation, and technology goals for 2030 by engaging stakeholders and investing in the startup ecosystem, as seen in its recent partnership with Astrolabs and the "L'Oreal Tech Quest Challenge." L'Oreal executive Duffier announced that the future of the beauty industry lies in technology, specifically in the South Asia Pacific-Middle East-North Africa (SAPMENA) region.

The "L'Oreal Tech Quest Challenge" recognized winners whose innovations will be used to develop tools and practices in the beauty industry across the region.

The SAPMENA region is home to a thriving startup ecosystem, and events like LEAP in Saudi Arabia showcase the growing entrepreneurial and creative energy in the Middle East.

The beauty industry in the Middle East, including the GCC market, is experiencing high growth rates, valued at $11.7 billion in 2024, and has grown by 10 percent since the COVID-19 pandemic.

The GCC's non-oil GDP is growing at a rate of 4-5%, while Europe's is growing at less than 1%.

The UAE has seen an increase in high-net-worth individuals, leading to a positive impact on the luxury market.

Beauty demand, particularly in Saudi Arabia, has tripled due to women's increased access to the workforce and disposable income.

Factors contributing to the market growth include the quality of retail execution and new beauty concepts.

The Kingdom of Saudi Arabia's e-commerce share of total retail was 6% in 2020, up from 4% in 2019, but still behind mature e-commerce markets and the worldwide average.

The beauty and personal care market in Saudi Arabia is expected to experience double-digit growth post-COVID-19, surpassing $13.3 billion by 2025.

Saudi Arabia, the largest economy in the Middle East, is a priority market for L'Oreal due to its economic diversification efforts and high growth potential in the region's booming beauty industry.

Product innovation and beauty technology will continue to drive the offer-driven market.

L'Oreal is launching Melasyl, a breakthrough ingredient for skin care treatments, after 18 years of research.

The Middle East, known as the "cradle of beauty," has a long history of defining beauty trends, with the use of lipstick dating back 5,000 years.

The text discusses the shift in the beauty industry in the Middle East towards digital platforms and sustainable consumption.

The region's customer base is diverse, and there is a growing demand for eco-friendly products.

According to Duffier, the company is collaborating with startups to offer sustainable innovations, with 70% of consumers preferring such products.

The company is no longer just a beauty company but a beauty tech company, focusing on innovation and sustainability while catering to all skin and hair types.

The future of beauty is predicted to be personalized and moving towards technology, with examples given in hair care, derma cosmetics, and make-up applications using virtual reality tools and Microsoft collaboration.

L'Oreal aims to make 95% of product ingredients bio-based and traceable by 2030 as part of their sustainability program, "L'Oreal for the Future." The company plans to reduce carbon emissions at all sites, move to renewable energy, and improve waste management and water treatment by 2030.

In Middle East, L'Oreal expects to reduce distribution-related carbon emissions by 50% and water consumption by 70% through the introduction of Gjosa shower heads in salons.

The initiative, set to launch in the region this year, aims to target 500 salons per year and save 35 million gallons of water annually.

Additionally, L'Oreal Saudi Arabia has recycled 340 tonnes of waste in the past two years through a Garnier initiative in collaboration with Panda and Naqaa Solutions.
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