MUMBAI, India — Jean-Paul Agon, chief executive officer and chairman of L’Oréal, arrived here last week with more on his mind than just the ceremonial chore of cutting a ribbon at the company’s first research and innovation center to open in India. He underscored the importance of the Indian beauty market for L’Oréal, the global industry leader. India would be one of the top five markets for L’Oréal in the coming years, Agon declared, with the goal of adding 150 million customers by 2020.
Agon also helped connect the dots, explaining how local innovation would help lead to his policy of universalization, and speaking about the growth of L’Oréal India, which has been doubling in terms of sales every three years over the last decade.
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