PARIS — Eager to capitalize on a dynamic sales channel, L’Oréal said it is creating a worldwide Group Travel Retail Division that will be headed by Barbara Lavernos, currently managing director of L’Oréal Luxe’s travel retail worldwide.
The new Paris-based division spans L’Oréal Luxe brands as well as those from the Active Cosmetics, Professional Products, Consumer Products and The Body Shop divisions
Considering travel retail tantamount to a “sixth continent,” L’Oréal chairman and chief executive Jean-Paul Agon called it “a key channel for winning over one billion new consumers,” adding the company has “has high ambition” for the division.
Lavernos is to report to Nicolas Hieronimus, president of Selective Divisions.
Present in airports, duty-free shops and the like since the Sixties, L’Oréal claimed a 21.6 percent share of the travel retail market in 2012.
The French beauty giant estimates the market should double over the next 10 years to reach $100 billion. Its value in 2012 was $55.8 billion, according to L’Oréal.